Labor Market Not Matching Up With Workers: Ryding

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

April 30 (Bloomberg) -- John Ryding, co-founder at RDQ Economics, talks with Tom Keene about expectations for the April jobs report in today’s “This Matters Now” on Bloomberg Television’s “Bloomberg Surveillance.”

Good morning am everyone.

It is fed day.

Our guest host, john ryding.

Signs of real improvement in the stock formation.

A jobs report on friday.

This is a debate about the fed behind the story -- head of the story.

The job market is getting better.

Absolutely the job market is getting better.

The most telling indicator for april was the for the drop in the initial jobless claims which suggests that fewer companies are laying off workers.

There is plenty of job openings out there in terms of the numbers we see from the labor department.

The missing piece has been getting existing workers into the jobs -- the labor market is not matching as well the unemployed to the jobs available.

The idea of that long-term unemployed buying us the regular unemployed.

There's is a number -- the structural unemployment won't improve.

Is it a matter of time to get there?

Time helps.

Unfortunately, it's too long for the long-term unemployed.

We need nonmonetary government economic policies.

Work retraining policies, tax incentives -- policies like germany.

Why can't we be more like germany?

Because we have a divided government in washington that is completely gridlocked on the subject of economic policy.

So we get absolutely nothing out of washington leading the fed to carry the bomb.

All of the impetus on one particular level of policy and it's already so pushed to the extreme, potentially bad things are going to happen down the road.

He will have unintended consequences.

Maybe another financial crisis at some point.

You're not helping the long-term unemployed.

You worked for years at bear stearns and now rdq economics.

Do you still have the worry of future inflation?

Inflation could be a problem in the future?

I do.

Right now, the liquidity the fed has created is idle on bank balance sheet.

We start to reconnect the banks willingness to lend with the amount of reserve they have available, the money supply could literally explode and the fed could do little about it.

We saw that in the 1970's. we have sort of forgotten about

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change