Bloomberg Talks
US Acting Labor Secretary Julie Su Talks Jobs Report
Dec 6, 2024
Julie Su, the Acting Labor Secretary of the United States, provides insights into the November jobs report. She highlights that the unemployment rate, now at 4.2%, remains historically low despite recent challenges like hurricanes and strikes. Su discusses labor market trends, emphasizing wage growth and support for vulnerable communities. She reassures listeners that the economy is still on a steady growth path and underscores the importance of accurate reporting and responsive economic policies.
05:50
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Quick takeaways
- Despite a slight rise in the unemployment rate to 4.2%, Acting Labor Secretary Julie Su emphasizes that the economy is still growing and historically stable.
- The podcast highlights the significant wage growth of 4% over the past year, enhancing workers' purchasing power while addressing inflation.
Deep dives
Recovery and Job Growth Insights
The recent job growth numbers indicate a historic recovery in the economy, showcasing consistent job creation despite recent disruptions such as hurricanes and labor strikes. The three-month average of 173,000 jobs reflects this rebound, emphasizing that the unemployment rate, while slightly rising, remains historically low. This indicates a broader and more stable economic environment, where significant increases in labor force participation complement job growth. The discussion also highlights the importance of prioritizing workers and vulnerable populations, underlining that such an approach contributes to a stronger overall economy.
