Mar 4, 2013|
The First Look - Janet Freund, Bloomberg News
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
The rate of unemployment at the United States is seven point 9% lets you look at the U six which is running at about fourteen point 7%. We're joined by Janet going from Bloomberg News in New York Janet good morning. Good morning. Good next. Janet what's the median duration for joblessness today relative to what it was back in 2010. The median duration today felt about sixteen weeks in January and that. Compared to 25 weeks in June of 2010. Right so it's make a marked improvement in a in a two and a half year period time is this a result of that policy I know the -- taking credit report. But is the consensus that this is a result of zero interest rates. -- hiring has expanded and that apparently support. But chairman Bernanke is that America's labor markets remain flexible. And they are not succumbing to these higher jobless permanent jobless rate. It's likely does that aspect continued monetary stimulus can -- faster healing. And that the Fed will continue with the 85 billion security purchases per month through at least the end of the year possibly into the first quarter of 2014. Dana what about older workers you know because the the I know they had been hit very hard. Back in 2008 are older workers finding it easier to get work. Surprisingly older Americans have experienced the biggest turnaround in unemployment variation. For ages 45 to fifty for the medium period of joblessness decreased 26 week. In the fourth quarter from 31 week two years earlier. And sedate people 55 and over the medium period was 29 weeks -- -- fourth quarter of 2012. Vs 36 weeks two years earlier. Though they are being a an easier time getting the job. -- and Janet how many people have been unemployed for more than 27 weeks and compare that again if he can't. April of 2010 it's a long term unemployed out of work more than six months. Short of the number of people unemployed for 27 weeks or longer has dropped. To four point seven million from the -- in April 2010 of six point seven million. Now that's good but it's still. Higher than the norm isn't it -- -- Two ten million fewer than two years ago but that four point seven million at the trip all the -- swamp amount to go with. -- ways to go there. And Indian terms of forecasting -- somebody's trying to anticipate how long interest rates are gonna remain near zero what is the outlook for interest rates remaining near zero. The Fed has said they're committed to keeping the target effort benchmark interest rate near zero as long unemployment remains of about the point five and an inflation isn't forecast to rise about 2.5. Right. There you go all right we'll get a new report on Friday thank you very much skin. Jennifer and from Bloomberg. That's right we have this Friday will be getting -- jobs report the big grand -- normally it's the first Friday of the month. Which would have been march 1 that because forever it was a short month or not to use that data. Until this Friday which I believe is march 8 camp -- yes that is -- Local company. Being acquired and we're talking about I party party city. Will acquire data -- I party what's behind mr. Picard should collegial -- the and compliment. -- I pretty actually put itself for sale last November Barry the stock trades around eighteen cents per share and that's where it's been sitting for the past. Year they outbreak about fifty stores throughout new England and they hired investment bank Raymond James to help them with this deal. -- party Katie which was that a position by Boston based Thomas partners which was taken in party city about a year ago moved in. They offered 8200%. Premium. And for our I party stocks and they offered to pay shareholders 45 cents a share and the looking for the ideal to close by as early as the second quarter while -- When we come back we're gonna take a look at Infiniti they have a new drug. And will be taking a look at that and we're also following the Transocean story that in more coming up on the financial exchange.