The Good, the Bad, the Ugly in the Job Market

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April 4 (Bloomberg) -- JPMorgan Chase Senior Economist Jim Glassman discusses the job market and his investment ideas on Bloomberg Television’s “Bloomberg Surveillance.” (Source: Bloomberg)

We will get a triptych labor perspective.

Legendary with jpmorgan.

Really focused on the american labor economy.

You write up a storm every month.

What is your focus this month?

It is the hidden unemployment that is interesting to me.

Now that the fed has backed off or downplay the unemployment rate, we know why because there's a lot of part-time unemployment that folks can't find full-time jobs in the 20 to 30-year-olds are slowly to me back into the market.

The unemployment rate is not telling the whole story.

Is part of america in any way getting full-time jobs?

Slowly getting full-time jobs.

And people who are unemployed long-term and short-term, they're slowly getting jobs.

Long-term unemployment is coming down, despite all the angst about it.

These folks have useful skills.

They do matter.

Broadly, i think we're all getting used to the idea of the economy is moving forward.

The issue now is, what meaning are we in.

I think we're in the fifth inning.

Now the debate will be on how much slack is there and when you watch to figure out the risk?

When you talk about slack i'm a you're talking about -- massive jargon alert.

U6 is the official unemployment rate.

Those working part-time and would like to get full-time.

I get out of school, can't find a job to me give up and do something else.

I don't show up in u6. let me bring up jim glassman 's note.

It is like 14 pages.

I thought this was an important paragraph -- what is an alternative option?

May be freelancing.

Went back to school.

This is a structural issue.

I want to ask about inflation.

What about wage increases?

We sell pickup in february, but a lot of people say -- it seems like a weather distortion.

We are expecting to see some backoff from the wage growth.

This is not a u.s. phenomenon.

This is going on across the developed economy.

Are benefits crowding out wage growth?

Are they growing so much that i can't get a raise?

They have slow down more in

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

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