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Ryan Bridge: Unemployment isn't as bad as it seems · Early Edition with Ryan Bridge

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  Speaker 1: A couple of things. On the unemployment number that came
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  Speaker 1: out yesterday, it looks worse than actually it is because
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  Speaker 1: a bunch of people decided they would start looking for
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  Speaker 1: work in the second quarter than the one before it.
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  Speaker 1: So there are a bunch of reasons for this happening.
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  Speaker 1: But basically, you don't really know. You don't know what
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  Speaker 1: you don't know. It's anyone's guess. It could be that
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  Speaker 1: people go, oh, the job market is on the up,
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  Speaker 1: so it's actually worth me trying to look for work now,
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  Speaker 1: which would be a good thing. But also, the neat
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  Speaker 1: rate is better than it was in March. There are
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  Speaker 1: a couple of reasons. A couple of good takeaways from
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  Speaker 1: yesterday's number. The neat rate better than it was in
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  Speaker 1: the March quarter. That's young people, so ages fifteen to
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  Speaker 1: twenty four, who are not in employment, not in education,
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  Speaker 1: or not in training. So you want is you want
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  Speaker 1: fewer of them. It was fourteen point four percent, it's
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  Speaker 1: now thirteen point eight percent. Sure, it's definitely room for improvement,
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  Speaker 1: but there is a slight improvement. Young people who couldn't
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  Speaker 1: find work have gone into education to up skill, which
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  Speaker 1: is exactly what you want. Them to do at a
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  Speaker 1: time like this, the number is still higher than you want.
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  Speaker 1: Of course, they both are actually on the whole, but
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  Speaker 1: with context, not as bad as they look at first glance,
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  Speaker 1: and with some promising signs under the hood, And every
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  Speaker 1: economist and his dog right now will tell you don't
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  Speaker 1: let this put you off. Unemployment is the lagging indicator,
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  Speaker 1: so it's the last one that will turn in an
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  Speaker 1: economic turnaround. And gee, this thing's been a titanic of
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  Speaker 1: a turnaround job. But there are plenty of reasons to
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  Speaker 1: be optimistic despite the headline number that came out yesterday.
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  Speaker 1: For more from Early Edition with Ryan Bridge, listen live
• 1:39
  Speaker 1: to News Talk Set B from five am weekdays, or
• 1:42
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