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El-Erian discusses the jobs report, the Fed, inequality and economic recovery

2020 6/10
El-Erian discusses the jobs report, the Fed, inequality and economic recovery

Mohamed El-Erian, chief economic adviser at Allianz spoke with Yahoo Finance’s Julie Hyman and Adam Shapiro about the latest jobs report and inequality in

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  • joe zanella says:

    It could be that these numbers are fresh out of the kitchen very well cooked, but would the Trump gang do that?

  • A Bouss says:

    I don’t believe anything coming from this administration, trump will fake data to benefit him

  • G C says:

    El-Erian is one of the most competent finance/economic analysts of our time. He concisely describes what’s going on in the belly of the beast.

  • Raghav garg says:

    Trump – a beautiful mind

  • The1forGod says:

    I am one of many thousands who have yet to receive the 1st Stimulus check or any Unemployment since March 2020. I don’t know how this economy has gotten better when there still are so many of us still left behind and no one seems to care that we have financial obligations.

    • Ender vi Britannia says:

      @The1forGod — Why do you expect government to bail you out? Shouldn’t you be financially responsible? 1 year emergency fund in cash to handle all expenses? And saving (by spending less than you earn) and investing the rest in stocks and bonds? Due to illiteracy in basic personal finance, we have created a country of too many weak people.

  • greycrx87 says:

    Mr Do not but the dip – I did the opposite to what he said and I made a lot of the upsite

  • Mike Nettles says:

    It doesn’t help to talk about inequality in the job market now. With less jobs, it is all about competition and survival of the fittest. Cannot afford token positions anymore.

  • williamd915 says:

    Still in denial even after job data shows that it’s less disconnect between financial market and economy reality. Still in disbelief even bond yield is back up. Still bitch and moan the Fed every day.

  • Eddie C says:

    El-Erian has been wrong throughout the entire COVID lockdown and yet he still gets air-time.

    • John Armstrong says:

      Example me.

    • Chris C says:

      Contrarian view will always have an audience. Look at how the media works.

  • Dr Control says:

    Here come the experts scratching their heads. Why do I think this guy is not very happy that the economy is recovering.

  • Gabby Chatterly says:

    The reality must be measured in what happens to the Labour market since covid19 shutdown. 40mllion people plus applied for unemployment. Now that we ask small businesses who were shut down during covid19 to come back to open up. So even if 2.1 million people now have employment, what about the 40million or maybe less as they may have opened up back to their business and are no longer in the unemployment jobs seeker. We are being mislead that US economy is strong with 2.1 new jobs. We have to holistically look to consider all that has happened under covid19 closedown. Consider 40million+ unemployment over say 2.1million jobs now?? It is small businesses and those that are asked to open have come back to the markets, there may be some new jobs but the market needs to take this into account. The threat of covid19 has not gone away but the risks are less and vaccines or potential help in fighting covid19 may be strong. We need to wait for fully opening to learn more about the US economy state.

  • Paul Robinson says:

    Rigged, care of the trump administration.

  • any name says:

    this job report is full of misleading data, the state gave me 6 weeks of unemployment then stopped end of April, reason was i did not have enough working history, i am a gig worker and i sub sometimes

  • any name says:

    in my state a lot of businesses already closed the business for good. every factory is idle. it is so bad we still have miles in front of food banks

    • Craig Jackson says:

      Move! Everyone working here! Housing is way up and so is construction. Opening back up baby! Protests showed us nothing to worry about!

    • April Harris says:

      T does not have a clue as to the state of the REAL Economy. You got to be ignorant to not see what is coming.

  • Mike Noelck says:

    There are still 25 million unemployed, we have protests in the street, and we still have a pandemic going on. I’m not sure if anyone can take a victory lap.

    • Jim Duncan says:

      That is why it is so disgusting that Trump has.

  • Mike Noelck says:

    Why aren’t more people listening to El-Erian?

    “Fundamentals to improve and validate asset prices” – Unfortunately I do not think that is going to happen.

  • Gene Seiler says:

    7:37: “Labor retooling, labor retraining, education reform…” As if those haven’t been tried for decades.

  • Jacke7111 says:

    Trump is insane and lies as soon as his lips moves.

  • Rajeev Nanda says:

    By all historical measurements this market is a fraud driven by unprecedented levels of liquidity and zero interest rates that have made treasuries and bonds unattractive and funneled ridiculous amounts of money into stocks. There’s still a lot of liquidity on the sidelines from hedge and mutual funds that will have to be put back into the market to make end of quarter numbers respectable. It’s a gamble they will be forced to take raising this market to new highs and nosebleed valuations. Eventually when the fed draws back the fundamentals will hit this market hard and it will fall similar to the dot com bubble. I’m keeping stop losses on all my stocks and will continue to ride this wave however long it goes.

  • Vincent says:

    Ah, this guy is wrong all the times. Never listen to a smooth talker, and I think his time has passed

  • no brainer says:

    This anchor does not like the job number.

  • Arthur C says:

    They must have counted looting as a job.

    • Jongbong Kim says:

      Humor of the day.

    • Amanda Cheng says:

      Haha, that’s a good one.

    • Allen D says:

      You got that right! ;-))

    • wim lammens says:

      Trump counts protesters as employment and looting as their pay check

    • Sadiya Ahmed says:

      Possible haha

  • Daniel Purdy says:

    Unemployment for Asians went up more than blacks. Quit making it all about blacks.

  • Triggzz says:

    Why are the last 15 sec muted??

  • Mrrossj01 says:

    Golden Nugget Casinos reopened. Staff is there wearing face masks. Facilities have been sanitized. No customers. Virus fears. Eventually, staff will be laid off.

  • Seth Tegler says:

    Trump has to be the most annoying person to listen to. A literal moron who thinks he’s best thing to ever grace this planet.

  • Andrew Norman says:

    You guys need to do something about your audio/video sync.

  • J. Caesar says:

    Fake Labor report….millions still unemployed.

  • M Mercato says:

    Now i finally agreee with Mohammed. This market wil fall to 2750. Or lower

  • OJA says:

    are people still listening to this guy?

  • Dustinisnotavailable says:

    The government NEEDS the numbers to paint a rosey picture so that they can call off the next stimulus payment and extended unemployment benefits out to next year. They don’t want people’s tax dollars going back to themselves, it needs to go to all the corporations that put them where they are. Oh, and don’t be surprised when taxes get raised in the future, regardless.

  • April Harris says:

    T is so full of it.

  • A P says:

    J powell has really screwed up America. Worst fed president ever

  • soulmate says:

    Perhaps they counts all those people sitting at home day trading on Robinhood as employment.

    • Death Larsen says:

      Yes those are big jobs 🙄

  • Lee Ackerson says:

    ADP’s numbers for May are 2.7M additional lost jobs, NOT increased employment. ADP has no vested interest in fudging the numbers; but Trump does.

  • toology55 says:

    Mike Pence 😂

  • warmperson2007 says:

    Mohamed El Erian keeps warning us about the markets. When the S&P hit the 2720 level he told us to be very careful. His advice for people wanting to invest in the stock market was do dollar cost averaging, by investing not more than one fifth of the capital each month. He did not expect the S&P to rally to the 3200 level so fast. I guess a good strategy would be to do the exact opposite of what he advices.

  • Ad Kest says:

    Funny how people are serious try to predict the market with fundamentals, even Buffet did not predict this bull market.

  • Rof Lhard says:

    Corporates should only have one duty: shareholder long term returns. That’s it. Anything else is socialism.

  • laureate-concert-group says:

    A very interesting interview. It would have been even more interesting if the tech team would have gotten the synchronization right. My advice: Check before publishing.

  • Vision Warrior 777 says:

    Rigged!!!!

  • anonymous says:

    this is a clear indication for only one thing: The US Establishment wants him Trump re elected. Why. More free money bottomless for the rich. And he bailed out capitalism big time.

  • Jim Motley says:

    What I see in my area is business is coming back like the running of the bulls. Beaches are packed, more visitors than ever recorded. Housing around me is booming and has not slowed one bit with land continues to go up in price. Workers are scarce as people are working overtime to fill the needs.

    This is Florida, maybe not like this everywhere, but shocked as I am what I see before me is a very V recovery

    • Jennifer Miley says:

      Beaches are free. The restaurants near them are not full. And I am not sure where you go t the idea that real estate is fine. A staggering number of properties have been pulled from the market and interest rates had to be lowered to nothing. Air BnB was a huge part of most major real estate markets (and valuations) and that business is dead in the water.

  • Bagpuss Macfarlan says:

    Weally wevolutionawy times. Wioting, wecession, depwession…wun, wun now!

  • Huy Makazi says:

    “The data is very noisy”. I will definitely reuse that expression at work

  • Adam Sahr says:

    The absolute value of the numbers might be correct, the sign is definitely not !

  • Adam Sahr says:

    Too honest to be in World Finance. El Erian explains things so concisely even a 5-year old would understand, and get scared !

  • Stratford1 says:

    V SHAPED S&P Fvckaroonies!

  • Mark says:

    So we’re supposed to believe that instead losing 9 million jobs, we added 2 million jobs while unemployment claims were flat. Got it.

  • Richard Nunziata says:

    God…Trump is such a idiot

  • Mark Fox says:

    This guy (Trump) is lost in “magical thinking”. America statistics are a joke…

  • Martin Lemke says:

    ÖPP

  • Martin Desmond says:

    There is “fine print” in the Bureau of Labor and Statistics that notes a problem in trying to model for furloughed and other types of workers. The BLS reports admits that factoring in those types of workers that the unemployment rate actually increased to over 16% and not the 13% rate.

  • Chris Boe. says:

    From the BLS: “If [the workers misclassified as employed by the BLS] were instead considered unemployed on temporary layoff, the number of unemployed people in May (on a not seasonally adjusted basis) would increase by 4.9 million from 20.5 million to 25.4 million”

  • hugh allen says:

    When you are draft dodger racist Trunk, Comrade Barr, Moscow Mitch, and “Justice” Roberts,  you steal the 2020 election.   It’s what you do.           Party of Trunk must go.

  • Jackie Gailfoil says:

    We have two economies really one for the wealthy and then everyone else because what we have in this country is wealthy welfare the stock market is fine because of what the fed is doing meanwhile the average American has lost a job or is behind on their rent or mortgage payments the ppp is trying to help small businesses but so many of them have already closed their doors the average American needs help now the idea of a capital gains tax cut is just another handout to the wealthy and the idea of a payroll tax cut would leave social security in ruins so what do we do I am unsure but if things don’t change soon I believe there will be a big change this coming November

  • ART DECO says:

    TRUMP IS LYING!!AS USUAL ..

  • Jacqueline Padilla says:

    I know nothing about all of this. I know this, just listening to all of u, either someone is underestimating, not reporting or fudging the numbers?

  • Νίκος Μαζαράκος says:

    The data was trash and he is a brilliant man. This all will end very bad. It is a 2001 dot. com bubble repetition.

  • Keith Brandson says:

    The *PPP Flexibility Act passed on Friday June 5* – modifies the original PPP loan/forgiveness requirements in three ways: 1. the deadline to rehire workers was extended from June 30 to December 31, 2. Reduced the ‘forgivable’ amount of the loan from 75% payroll related – to 60% related (more allowed for rent, utilities, etc.), and 3. Extended the maturity of the PPP loan from 2 years to 5 years.

  • Mike N says:

    “the data is very noisy”… Just say it’s a lie and people are being coersed to put out false information

    • miller charlie says:

      It could be a sampling problem that makes it statistically noisy. I think that’s what he means. If the people they surveyed happened to be employed very different than the normal population, then a second survey randomly sampled would get a different result…thus the noise is in varying results

  • tavo m says:

    Is that arabic analyst doing a morgan freeman impression or morgan freeman playing an arabic analyst?

  • Bob Me says:

    Ridiculous, I can’t believe anyone is actually discussing whether these numbers are correct or not ? But nonetheless it matters not anyway…. just 41 Million still unemployed versus 43 Million ?

  • Muratib Mike Fatah says:

    Great discussion! Thanks.

  • Peace O says:

    That’s what America has always been about: Defying expectations!

  • Bharat Oz says:

    BTFD *Trumps* Intellectual Masterb@!ion . Keep telling people to not to buy on steep fall and ask to buy when they reach new highs. CNBC BLOOMBERG MARKETWATCH ALL THE SAME STUPID OR WORKING FOR WALL ST SHARKS

  • John Roth says:

    At this moment (6/7/2020) is a complete disconnect between the stock market and the economy. The FED is backstopping the markets with free money which is exacerbating the wealth gap. This policy is a travesty of justice for all of us outside of the wealthy ring. How about a policy that funds main street, which will actually create jobs.

  • Trilok Arora says:

    Experts economist are always wrong.

  • Rita Kader says:

    The reason that Wall Street is doing the opposite to the rest of the economy is that the Federal Reserve has already pumped 9-Trillion into wall Stree in the last past six months and now is offering the banks another 1.5Trillions. The government is given so much money to the richest of the wall street and so littler to the regular Americans 1200 per person and 2400 hundred to family and some of the families have not received yet. It won’t be equality as longer the government keeping rescue the wong America.

  • C Puzz says:

    Out of all the economists ElErian always has such a great way of explaining simply

  • da block says:

    wall street is running up stocks because they know the scamdemic was a fake. Nobody got sick or died from the FLU this year, it was always reported as covid19. In my opinion this was a planned false flag by the FED, wall street banks, administration and treasury to justify a money creation binge and they don’t care who loses especially We the People. We’ve been scammed again and we will never learn and they know that.

  • William Saxton says:

    I guess no one understands the PPP and what that did to force employment in May. That program ends June 30. The only jobs reports that matter are June and beyond when the government isn’t paying for people to work.

  • Sergiy Popov says:

    What is with the sound lagging?

  • ian halagean says:

    Covid is/was a hoax. I dont know who started and pushed it , but follow the $. Who is making a bundle off this bunkum. Who is seeking to divide and confuse the public? Who is fomenting fear and hatred? You figure it out. Think for yourself and analyse the medias lies.

  • D Snyder says:

    Totally bogus market and numbers.
    This Ponzi scheme is heading for a spectacular fail and hopefully takes the Republican party with it.

  • C Dun says:

    Didn’t the report actually say 16.7% and maybe more? Misclassification of something.

  • Kay Es says:

    El lost his shirt on shorts lmao

  • Simon Edge says:

    If it walks like a duck, talks like a duck, then its probably a f@&king duck.
    These job numbers surprised everybody – something smells…

  • Young Grizzly says:

    What’s the best way to fix unemployment? Change the model/formula that you use to calculate unemployment. Genius!

  • Patrick W says:

    Take away the PHD and translate into layman’s terms Mohamed is trying to say ….” The job data released is Bull*****

  • Julian Boyce says:

    “Unemployment is down” sounds much better than “we added thousands of minimum wage jobs to the economy”

  • Esquire says:

    He got muted when he started talking reality

  • Christopher Spavins says:

    ” I’m really not comfortable making that bet.” This chap seems to have a way of thinking about the facts rather than the narrative.

  • Andrew Strakele says:

    2020 is 2009 on Steroids! 🙀

  • Lionel Colas says:

    I dont understand how the country has already priced in a best case scenario. Still in the mist of a pandemic, Race riots, and businesses are still shut down. None of this make sense anymore.

  • Jeff Thompson says:

    They are counting people like me who are on furlough till July. I know 20% of my company will be let go in July.

  • GUIDESPERSPECTIVE says:

    I hope Trump is the only one on his rocket ship and its heading for the sun.

  • Trumpenstein says:

    The Fed is bankrupting the country as it “backstops” the equities markets. This will not end well.

  • john ellington says:

    Need Bank of US Dollar Charity.

  • Mike Webster says:

    hahaha — the irony is palpable! — missed 4 MILL people? whoops. unreal.

  • T. R. Campbell says:

    Glad to see this mentioned but what we must understand is the recent killings of black people by police has happened in are most Democrat controlled progressive cities, many of our black and Hispanic entrepreneurs also have businesses in our most progressive cities.
    Small business is the backbone of any economy. We have seen many of our governors close down business because of the COVID-19 virus. Some governors display fascist tendencies (Michigan), who allowed certain stores to be open and then mandated specifically what products they could sell. None of these permitted openings were small business.
    Governors in some states have not yet opened for business, in other states business, bars and restaurants can only serve 50% capacity. So this is the prime reason why we see many black store owners, restaurant owners, bar owners, entertainment venue owners, suffering because they cannot open or there are severe local or state government restrictions on opening. Our progressive cities need to be more pro-small minority owned business.

  • Death Larsen says:

    The jobs report is such a scam and lie. I’m pro Trump but this is over the top this scam jobs report. Dog walker jobs are back!

  • Death Larsen says:

    Literally impossible for asset value in reality to meet valuation levels.

  • Aneil Pokharel says:

    Maybe just maybe! Someone scammed this data.

  • Blake Lewison says:

    The BLS admitted that the jobs reports in April should have actually been 19.7% so if unemployment dropped by 1.4% in May we would actually have 18.3% unemployment rather then 13.3%.

  • leonardoraphael donatello says:

    asshole made me miss the bottom

  • Ias Onas says:

    Audio problematic. Otherwise keep up the good work.

  • cat car says:

    Did they mention that they made a major error on the data? Me ‘fudge’ is not a strong word, haha!

  • Yvette C. says:

    fake jobs report!

  • Yasmeen Nasir says:

    Nah.what an economic nothing 🍔..this is all fuzzy math..there are still 40 million unemployed…most cant get through to file/or they gave. up…something stinks

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