j.p. morgan chase chairman and ceo, i asked him about the jobs market and his plan to get staff back in the office, concerns over the delta variant and i wanted to know about his big push to do more business in china, you hear his response for all of that and more. i look on the markets and where the end of the week after a better-than-expected july jobs report employers adding the best pay since last august and through the cycle president john long skeeter talk more, it's great to have you as we can, thank you so much for being here, give me your thoughts on what you saw from the july jobs report was it a solid number? >> got to get the very solid number we had the deep decline by the unemployment of 5.4% in addition to the creation of more than 900,000 jobs, moreover we had a general but average hourly earnings, when we take this together, more jobs of average hourly earnings were looking at a very healthy increase by wage and salary income and that's going to help fund consumer spending over the near-term. maria: 930,000 jobs in the month of june i'm sorry 943,000 jobs in the month risin

j.p. morgan chase chairman and ceo, i asked him about the jobs market and his plan to get staff back in thes big push to do more

j.p. morgan chase told foxbusiness he sees himself staying in the job for another five years, but not 10.lobal news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. -- global news 24 hours a day. i'm ritika gupta. this is bloomberg. ♪ jonathan: big downside surprise on the adp report this morning. good morning. here's the price action. 1.13 to 4% the yield on the 10 year -- 1.1324% the yield on the 10 year. we are just about to break through 1.13% now. your dollar is weaker. as tom pointed outcome of the dollar index briefly through a 92 handle, advancing by 0.06%. equity futures a bit softer, down nine points on the s&p 500, down by 0.2%. it is a downside surprise on the adp report. 330,000 is the number. 690,000 was the estimate. tom: we go granular. only michael mckee can do that because beneath the headline data is other data. is there a veracity to this granular data of adp? michael: the conclusion is the same, that it is an ugly report. the question is, do you believe it? the markets don't seem to be re

j.p. morgan chase bank global head of market strategy.his idea that margins may not be insulated into the new year, what is your take on that? david: i would probably take the other side of that, to a certain extent. i think one of the most important things going on is that we are in the midst of a positivity shock. positivity growth started to move up before this crisis started to re-accelerate gradually, and i think this forced a wave of investment into digital technology we are now seeing companies utilize to deal with a rising input cost environment, and yet deliver tremendous earnings. i think that is going to continue for a while. at some point, look at the strength of investment. that is the major driver i see in the next couple of years. tom: cancel the next three guests. we are going long here with david stubbs. i am going to go back to the great productivity analysis of 15 years ago and give credit to credit suisse on that. there's a new capital deepening intake not believe -- deepening in technology. what does it mean for the s

j.p. morgan chase chairman and ceo, i asked him about the jobs market and his plan to get staff back in the

j.p. morgan chase jamie dimon weighing on impacts of biden administration.hanges do you expect? >> i don't expect any. i think we have to deal with doubt and if some of the things change over time, sobeit. maria: what about broadly speaking policy. president biden wants to try to get through the new spending plan in taxes and that's going to possibly include a capital gains tax of 43.4%, a corporate tax between 25 and 28%, how does that change thicks and -- >> i don't think it's any chance that he goes that high. you talked about the economy, you mentioned china, will the me pull it together for a second. policy, so think of healthcare policy, immigration, taxation, regulation, litigation, education, we've gotten all of that wrong. that's why we've had growth which hurt the lower paid. so we had -- when we had strong growth, the black community had the lowest unemployment we have ever had. we need to focus on good policy, policy that works and we have to shed bad policy. the advice i give to the government is that all of the things is how you spend the morni

j.p. morgan chase. don't miss our exclusive interview with the bank of israel governor, governor yaron.pandemic and inflation. that is coming up next. this is bloomberg. ♪this is bloomberg. ♪ francine: welcome back to the open. we are 10 minutes into the european trading day. european stocks getting a little lift. across the board. an israeli cabinet subcommittee charged with mishandling the pandemic and a new lockdown may be needed. the bank of israel has already lowered its economic growth forecast to 5.5 for the year compared to 6.3%, the previous estimate. yusuf -- yousef gamal el-din. >> it is a precarious environment for any central banker out there. let's flush that out. we are joined by the governor of the bank of israel, governor amir yaron. what kinds of tweaks are you going to be looking to make a policy? -- to make to policy? gov. yaron: good morning. we have to make every conceivable effort to avoid a lockdown including imposing the green tag and the purple tag. we have not been doing enforcement very well. and we have to substantiate and extend the third booster shot and a

j.p. morgan chase and mastercard. happening. because this was a lifeline for many softs workers during the pandemic. absolutely. especially during covid for example, it wasn't safe to send your children to daycare. so somebody others are only fans and allowed to support themselves on a safe platform and raise her kids at home without risking covid. what home without risking covid. what oortion of home without risking covid. what portion of your — home without risking covid. what portion of your income _ home without risking covid. what portion of your income will come from the site, what percentage? rule from the site, what percentage? ilia: personally, from the site, what percentage? ic’iéi personally, only from the site, what percentage? ma: personally, only fans from the site, what percentage? me: personally, only fans has become about 80% of my total income. about! about 8096 of my total income. and ou can about 8096 of my total income. and you can do — about 8096 of my total income. and you can do this _ about 80

j.p. morgan chase where they have decided to push things back for in person return may be for various thingsber of people who would return in person. >> this could change, it will be interesting to see, they may delay it, who knows. we are not part of the scale in the delta variance we are in. i believe there are people like goldman saying if we are going to come back with masks, that's hard to do so keep an eye on it, will be on the news on the other stuff, wall street is just getting used to this stuff. neil: thank you. i want to get reaction from llc founding partner, this great return to work across the country but it's been staggered increasingly across the country. most barbara apple is putting it back and microsoft and amazon to next year, where you think this is going? >> it's hard to tell because i think everybody was patiently waiting after labor day when everybody was going to get back to normal, many aspects of the summer were normal for the consumer and the worker getting back to the office so i think what you see with wells fargo, just give headroom to figure it out, you will s

j.p. morgan chase ceo jamie diamond about doing business in china as jp and was just granted a license tosiness in china. here's what jamie said. >> national-- natural security issue is a whirl and when i said you are jamie dimon i metthat shining known you for a long time and you aren't in it just for the money or is it just about the many? >> of course not. i'm a patriot way before i worry about any money. or about j.p. morgan per se, but you should imagine that foreign policy of the united states is set by the government of the united states. if you start telling companies that they should stay in their own foreign policy you are making a huge error for the united states. maria: general, what do you make of what's going on today with corporations working with the ccp? >> i do sympathize somewhat in the sense that the biden administration has to be more clear. there is growing bipartisan support in the united states that china clearly is a strategic adversary, not just strategic competitor that jamie diamond used in his characterization of the country. it's a known fact now and it's not