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[0:00] ..." July jobless figures 247000. Jobs lost any unemployment rate nine point 4%. And as bad as it is that's better than had been expected is that a sign that the recession."...
[0:25] ..." we have a bit of a plateau here. People were expecting the unemployment rate to rise and it's -- well that's good news."...
[1:20] ..." Video the government also reported professor that the year to year hourly earnings on average were up by. Two and a half percent what does that tell you but what the future is Donnelly of the recession. But of the possibility that we'll see a price spiral. "...
[1:34] ..." Well I don't the cricket is here price spiral because. The government has been reporting that the -- price increase not way to greatly increased -- rate price increases been pretty"...
[0:00]" July jobless figures 247000. Jobs lost any unemployment rate nine point 4%. And as bad as it is that's better than had been expected is that a sign that the recession. Has turned the corner joining us this morning with his instant analysis and admittedly it's very early on in the process Harvard the university economics professor. He'll Jorgensen good morning professor -- is this good news."
[0:23]" Certainly good news looks like we have a bit of a plateau here. People were expecting the unemployment rate to rise and it's -- well that's good news."
[0:32]" This is still in nine point 4% is an awful lot of people without jobs."
[0:36]" Other threats and we know that two it's gonna take awhile for a lot of these people who were looking for work two. Find an appropriate job and get back into employment so whether it's not good news from that point of view."
[0:49]" Little factory jobs were down 52000. A significant improvement over the number factory jobs left the loss that is the month before."
[0:57]" That's right so what we've seen here is that the number of people reporting themselves as unemployed and looking for work has actually declined. And so again we're looking at a little bit of a plateau here in terms of the impact of the recession. Going back about six months this situation was pretty grim we're losing jobs if any great numbers and that's no longer the case."
[1:20]" Video the government also reported professor that the year to year hourly earnings on average were up by. Two and a half percent what does that tell you but what the future is Donnelly of the recession. But of the possibility that we'll see a price spiral. "
[1:34]" Well I don't the cricket is here price spiral because. The government has been reporting that the -- price increase not way to greatly increased -- rate price increases been pretty moderate. So inflation is below the Fed's target and I think that's likely to continue for awhile."
[1:52]" And so overall good news -- the good progress today thank you very Michelle Harvard university and Thomas -- desert. Dale Jorgenson."
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