Transcript for ADP Jobs Report and the Presidential Debate
One -- -- -- -- -- breaking news hiring is down according to ADP's monthly jobs report that's even after last month's numbers were revised down. Joining me now to talk jobs and the rest of the business headlines and Matt -- co host a break -- on our part area finance good morning that. So -- with the ADP payroll report -- a 162000. Private sector jobs added in September. Give us your take on this. Well as you pointed out the numbers down -- -- said that 200 plus thousand reading from ADP last month. That was marked down 189000. Which was a sharp. Sharply higher number. Compared to the -- -- the federal report that we get from the Bureau of Labor Statistics on Friday. So that was already some discretionary some discrepancy there but we're seeing the number -- soften up and about what it is that still. Is a relatively new low number and not enough. Jobs are being created in the private sector. To fuel the economy particularly at large. Corporations we talk a lot about companies sitting on their money not having the confidence to go out and hire people -- look at the hiring. And the way -- breaks it down -- the payroll the -- people you will debris -- small medium and large businesses those with more than 500. Employees and though only 171000. Jobs were added by large companies of that 162000. So we'll call about 10% to nine -- on the jobs. In the small and medium size area. Let me ask he's having the ADP number has not been dancing with the government's fast lately and which number. Should we put more faith. Government simplest yes the big daddy. This is good and and it's nice to have you know get a second opinion if you will. But the government number is the one that matters most that come the end of the day in -- -- tool. Type -- report their statistical. Dated there within there's also the survey data in -- while they call people up both have their. Benefits and there of shortcomings us as well but definitely -- that numbers the most important. All right we'll -- the government of course we have the presidential debate tonight so how do you think each candidate might use this report. To prove his case. Well you know jobs -- certainly not a new issue and so they all have their talking points down. The number that we see today what we'll see you know -- Friday and what we'll see probably the Friday before the election. Won't see a material change I don't see the economy suddenly starting to heat up in the next you know 35 days so we'll hear President Obama talk about the trend. Is moving in the right direction conceding that you know we have still a long way to -- -- -- a long way. Back we've added for a half million jobs in the unemployment rate is gone from 10% to 8%. And we'll hear Mitt Romney. Talking about the fact that we have had forty plus months north of 8% that we still have unemployment of 15%. In the add in all the people in the participation. Rate. Fall into a thirty year -- just too many people on the sideline giving up an economy. That is tepid at best also I think he'd be wise to raise some of them out -- statistics like 15% unemployment for you know people under age 25 and 50%. Unemployment and you know certain like that black population as well. Of them Lindsay that's gonna go tonight -- gearing up for that now switching here -- T-Mobile is merging with the MetroPCS. As the some of these two companies. Going to be any better than the two troubled parts well -- It blows it up. Up the wrong a little bit into the towards closer towards third place Sprint Nextel. So the T-Mobile has about 3035. Million subscribers. -- and another ten million give or take from MetroPCS. So that still leaves -- Bob about ten million short. All of a distant third place spread. So they'll be in the hunt so though they'll be -- the second of course it's a bad thing you know scale those. Usually good but it certainly. Given the fact that T-Mobile was left at the altar from AT&T via the court. I guess is over a year ago now it -- because they would've been number one by here of course both AT&T and Verizon Wireless have a 100000. Plus Verizon as a little bit of an edge over AT&T right now by about five or ten million subscribers. Articles that merger work that out after -- beer sales are up after several years of declines of this could be. Does this mean that the young man have jobs or -- -- just a lot of cats. -- -- I guess in drinking good beer by. By the looks of the numbers because -- the craft beer that's really drive in the turnaround. There's more hope Bob Kraft are small. Breweries in the country right now than we've had enough 150 years more than 2100 items that we saw beer sales. Snap a three year slump the the report says. One point 9% growth 12% growth if you look at the craft. Beer market but again that's still small -- real picture I guess. I you know how he's going to be outlets may be an extension of the -- -- -- -- trend that's just now filing making its way to be here. Actually in Egypt. Cook is the ultimate ambassador. From Boston brewing Samuel Adams. You know he serves beer like it's about what WiMax savers -- You know the -- -- and on the glass the whole thing so god bless agrees he's the pioneer out there and he's a massive brewer compared you know the real micro brewers. I've never been much of the beer drinker but it makes me wanna rethink my priority should he really -- that you don't give it a try and keep your eye on her head -- -- -- let's say what we're look at the Dow edging up. Well look like it's up about 10 points this morning. Thank you so much about --
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