he puts it together for adp.g things i think when i see these numbers is everybody said we were going to run out of workers. that there weren't the workers to fuel this kind of job growth. that underlying population growth, 60,000, 80,000, maybe 100,000. we keep doing 200,000 or near there every month. where are these people coming from >> we're drawing them from the unemployed and the underemployed. the employment rate is 4%. at the current rate of job growth, given all the fiscal stimulus in the economy, the deficit finance tax cuts and government spending increases, this will be sustained unemployment is going to go into the low threes underemployment, if you throw in the folk who is are part-timers who want more hours or people who stepped out of the workforce not looking for work and thus not counted as unemployed. about as low as it gets in business cycles. so we're drawing from the unemployed and underemployed >> i would note there's a story from "the wall street journal" saying some employers are lowering

adp hit today 219,000 in july.hat beats expectations that the fed will conclude the two-day meeting today with an interest decision at 2:00 eastern time. adp estimate was 185 we got june revised higher, jim. now the 10 year as you were talking about. >> i think to find the additional workers, you have to pay more people continue to tell me offline, yes, we are hiring parolees why? because they paid their dues they're available. there's no -- there used to be a lot more immigrants coming into the country. and, you know, these people count. for heaven's sake, if someone smoked pot in some state and then legalized how can they not get a job it's wrong i think that's how you pay up. so therefore, if you pay up, then you have to pay up in interest i think that matters. >> it's not just here, of course, the doj what has been going on in japan the last few nights in terms of them trying to control the yield curve and expanding it and the move up i mean, it's still incon -- contestable interest rates. >> i saw 4 -- what is

adpe report sppgs 158,000 jobs created -- >> 219,000 jobs created for the adp report for the month ofuch better than expected. >> much better than expected i think the new norm i think you are going to see beats going forward, because the economy is actually stronger than there is more demand out there for workers than what people are giving credit for i think the is a massive number the if you want to throw cold water here, you are going to start to see people talk about the economy growing too quickly is fed going to have to do something to slow it down i dismiss that completely, you the fact that you have strong jobs' report is nothing but a positive for the country, for the economy, for people who want jobs this is great. >> no major reaction from markets. dagen: you can see we are going to hear from federal reserve this week don't expect an interest rate hike they will be adjusting potentially their growth forecast for the economy. looking ahead to friday. what -- possible that the estimates on job moderation go up because of this number slightly because it beats so handily on th

let me give you guys a stat from this morning's adp number., america's added 836,000 manufacturing job. the prior 19 months, 26,000. this is a hell of a story. this should be the number one story in the country. again, i'm sure if you're campaigning as a candidate in the heartland -- >> you can't campaign against that very effectively. charles: you know, so when it's always about seeking out the bad and the good, that underscores the point, i guess. >> well, you mentioned it, the fact that the media is so against this president, and it's all resist president trump as well. i'm a marketing major. you can have a great product, a great service. if you don't advertise it, it doesn't matter. the president is always in sale mode just like he was in tampa last night with the rally talking about how great the economy is. people are back to work, low unemployment. and with those who are up for re-election, republicans, they don't do a good enough job in talking about how great our economy is, how job growth is, how wages are going up. they need to do w

according to the payroll processor, adp, 2019 jobs were t added, that's most in five months and it comespite a shrinking pool of qualified workers. that report sent the yield on the ten-yearreasury bacp to 3%. >> now to housing which saw demand droprly 10% in june compared with a year ago. a new report fromea onlineor redfin called it the biggest decline in more than two years. not only hethat, but number of people requesting home tours also fell and it sms that red-hot prices, rising mortgage rates and a lackti of ls at the entry level are all still taking a toll on potential buyers. >> and the third pillar of the economy is the consumer. the recent gdp report showed a surge in spending in the second quarter and that's significant because consumer spending makes up about two-thirds of economic activity. >>> so putting it all tog preliminary estimates from the atlanta fed today showed that the economy c bld be growing as much as 5% here in t third quarter. let's dig deeper into these threela p with the economy where chief u.s. economist. good to see you. >> nice to be here. >> let's star

thelso said following revelation he had sold some of his adt -- adp stake, he still likes adp and says his views are not connected. they relate to sector weightings and redemptions. pershing square added some shares of lows in the second quarter -- lowe's in the second quarter. this is bloomberg. ♪ mark: getting some breaking news out of turkey. qatar has pledged $15 billion in direct investment in turkey. this is according to a news agency. the mayor of qatar is in turkey today. some show of support from a recent, and given the selloff we have seen in turkish assets, i am sure this is a welcome show of support. qatar according to the state-run agency, has pledged $15 billion in direct investment in turkey. that is dollar-lira and the dollar is down 6% against the lira. the two-day gain and the lira the biggest in a number of years. some show of support from qatar for turkey with that $15 billion direct investment. we will continue to monitor that. up theprovals is shaking world's top gain market. china's regulators have frozen approval of game licensors amid a struggle of power. than

according to the adp research institute, payrolls rose.overnment comes out with the july job report on friday. the u.s. wants to ratchet up pressure on china to resume trade talks. the trump administration may more than double its plant tariffs on $200 billion on chinese imports. china calls that blackmail and says the issue should be resolved through negotiation. there was a report that google is preparing to launch a censored version of its search engine for china. intercept says it would follow results in terms beijing considers sensitive. hard topictures make it believe no one died in the crash of a mexican jetliner, but there were no patellar these when the aeromexico plane came down in durango. everyone on board made it out but 85 were injured. one official says the plane was hit by a wind gust as it took off. global news 24 hours a day on-air, and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am kailey leinz. this is bloomberg. caroline? caroline: thanks. an apple a day keeps the

often predicted in the last few months, the adp numbers, the isn numbers we've had.e might do that again this month. even with our the low-consensus estimate, we would still consider this to be a red-hot labor market. david: draw a connection, if you can, between the strong jobs growth, which has been going on for some time now, the ok wage growth -- i think it is fair to say it is not robust -- and what is going on with the gdp. carl riccadonna says those numbers do not support such a growth number. michelle: the implication is that if gdp is so much stronger than employment, we are seeing a pickup in productivity. that would be a welcome development. , think the productivity story you mentioned the fact that wage growth has been sort of subpart, much lower than you might expect given the tightness in the labor market. i think productivity is the key. i think it is difficult for firms to pay more for workers that are not contributing more to the bottom line. in a low-inflation environment, it is hard to pass those higher labor costs on to consumers. so productivity,

automakers report sales for the month of july and ahead of the government jobs report on friday, adpate payrolls report for ly, as well and that's what we'll be watching for on wednesday. the northern california wildfires are leaving a trail of destruction. more than 100,000 acres have burned at thisoi. firefighters are making progress, but already livesos he been and homes and businesses have been destroyed. it's early, but wall street is already starting tohe analyze impact. according to keith bruyette and woods, reinsurers will bear the majority of the losses incurred so far. >> horrific scenes from the deadly flash flood in small town america memorial day weekend drew national attention, but now there cameras there gone and locals have to figure out what to do next. the problem is the rivers. combination of climate change and too much real estateas development turned water from an asset to a liability. diana olick has the next part of our series, rising risks. >> it would have been called a thound-year flood if the deluge hadn't struck through maryland just two years before. [ sc

charles: speaking of jobs, the adp report yesterday 8 30,000 manufacturing jobs in last 19 months, priors 26,000. >> this is a sea-change. this is the second part his election the election in refir refirmation has two parts, he has to make it clear, he is on the ballot. charles: looking live, we'll have to wrap it ulive, it will be a fun event, we got the right guy, lou dobbs, the man is next. lou: good evening our top story, president trump's rally in willl could -- pennsylvania, he was greeted by congressman lou bar letta, tonight's rally is all about barl eta. to take back senate seat from bob casey there is the president right there, in the arena, trump will be speaking only as he can do

caroline: talk me through the adp numbers today, because they hint when you look at manufacturing jobswe might talk up concerns, but still there is no impact with a trade tensions even there. carl: exactly. the price tag of the tariff related taken to date not move the needle on overall economic growth. so yes, it is a negative factor, but it is a relatively small negative factor. in an economy that is growing at a robust pace and is supported by fiscal tailwinds due to tax reforms at the start of the year. as we have been looking at the economic data, in what are the soft metrics, we see that definitely trade war concerns are an elevated concern, they are at the forefront and on the radar screens. when we look at the hard economic data, we do not see the material pullback just yet. certainly, we did not see it in last month's jobs report and we will be focused on the area closely in this friday's report. manufacturing employment would be one place to look. job, the diffusion index of creation, which measures the breadth of job gains, that would be the early canary in the coal mine sho

adp reporting 219,000 new private sector jobs in july. that is more than expected.oming ahead of the government's big jobs report which is out this friday morning. more good news on the economy give the white house and republicans more juice to push a second round of tax cuts? let's ask market watcher, gary, scott and deidra. gary, what are you hearing about this? potential tax cuts 2.0 in the works? >> that is potential. investors are saying this is not the best idea. there's a lot of people looking to wage growth. remember the last time we saw a figure that economists deemed hot in february, that really sent a lot of volatility in the markets. the conclusion and the question comes, what is the fed going to do? if we see wage growth, means raising rates. looks good. looks strong. a lot of people i'm saying are just hold the course. stay the course. >> trish: scott, deidra brings up something important. we would love to see wage raises. >> i could use a raise. >> trish: look at the inflation we've had. we haven't seen enough inflation in actual wages. so does that a

the adp number showed continued strong growth. we think for a full year we'll see 3% gdp growth.t will be the fastest growth rate for this cycle. we can tolerate a couple more rate hikes for for this year. >> you are sceptical the fed is masking or helping to aid a potential time bomb here? >> i think it's telling. no one expected a rate hike to be announced today. there is a lot of anticipation for september. i'm not clear on december. a lot of what's happening, and even those consumer figures has to do with the fact that right now aggregate household debt is at a higher point than it was going into the financial crisis. powell didn't mention it at this time, is what might happen if these trade wars actually get going. what might happen in terms of consumer prices rising even more, and more debt being required to pay for things. and backing off from companies increasing jobs and wages. there is a lot of uncertainty coming later. what powell did was say this is what's happening now. and what will happen later will be announced as results start to come in. charles: i think the inc

before all of this kicked off in 2010 i'm happy to say that i have an expert with me, the founder of adp invest we were talking about some of the european institutions heralding greece it is a watershed moment a long time coming yesterday it was said greece would be treated like any other country going forward. do you believe that? >> it's still going to be under review the review will be close knit to make sure that at least in terms of the primary balance targets they're met, quite tough targets, 3.5% until 2022. the issue is this clean bill of health was given after the fourth pass of the ecm on the 21st of june yes, it was the official exiting from the bailout but these positive developments had come in line with that earlier in june. >> i have to say, i've been commenting about this, this historic day i called it a grexit yesterday there are many skeptics out there, many people saying the countdown clock has started ticking, waiting for the next time this issue will flair up again. i believe the perception is that short-term, yes, things are under control, but what happens longer te

evidence, particularly manufacturing, dirty fingernail stuff, construction, manufacturing, according to adpe last 19 months, we created over 800,000 manufacturing jobs. it's a beautiful story. by the way, for everyone. >> trish: thanks, guys. to the battle for election security. top officials at the white house detailing the threats that we're facing right now in this country. let's go to john roberts with the latest. >> good news and bad news this afternoon when it comes to the integrity of the elections in 2018. the bad news is, according to a number of officials that appeared at the white house briefing this afternoon, they included the director of the national intelligence, the director of the homeland security, the director of the nsa and national security adviser, foreign actors continue to try to influence american politics and divide the american electorate. the good news, the intensity of the efforts this year is far lower than it was back in 2016. the one actor that was named by the director of the fbi and the director of national intelligence, russia. it would be not just russian

elsewhere, news on the economy, adp says the private sector continues to go with robust hiring addingthat is better-than- expected, this comes before the government gives its monthly report on friday. >>> the fed wraps up a two day meeting wrapping up from pandora and blue mobile. >> reporter: on the big board, the market flat, if not for apple it would be ugly, the dow down by 4 points, nasdaq up by 28, s&p moving higher by 2 points. back to you. >> jason brooks, thanks. >>> san francisco is banning marijuana businesses from one neighborhood. the board of supervisors voted to ban potshots from the chinatown area, supervisor, aaron peskin, who includes that area, proposed a ban at the request of people in that community. >>> muni slowdowns are affecting commuters throughout san francisco, when supervisor says she will get to the bottom of this. supervisor valley brown says there are not enough buses and the system is unreliable. she is calling for more drivers to be hired and better training to address delays. >>> it is 13 minutes before 7 am, no delays with mass transit right now. >>

white house considering hiking tariffs on chinese goods to 25% >>> and we'll get you ready for the adprate decision as we kick off august, wednesday, august 1, 2018 "squawk box" begins right now. live from new york where business never sleeps, this is "squawk box. >>> good morning welcome to "squawk box" on cnbc. we're live from the nasdaq market site in times square. i'm becky quick along with andrew ross sorkin and mike santo santoli. joe is off today looking at the u.s. equity futures. right now a mrixixed board dow down by close to 36 points nasdaq up by 16, s&p off by 2. looking at july, it's been the best month for the dow and the s&p 500 that we've seen since january. we'll continue to watch. first trading day of august. if you check out what happened overnight in asia, the nikkei was up by almost 0.9%. the hang seng was down the shanghai was down by

strong household liquidity here, strong spending, strong jobs market which, by the way, the adp number didn't even get to that and we've got to go, saw a gain of 219,000 jobs. grid is the big government jobs report. teddy, phil, larry, thanks for weighing in. >>> big earnings coming up after the bill. david and melissa are going to have, you ready? tesla, t-mobile, and they will also have an interview with t-mobile's new president, mike sue earth. it's all at the top of the hour. see how they're doing. >>> none of our traders, did you notice, mentioned a possible government shutdown? with the closing bell ringing in 47 minutes, president trump is mentioning a government shutdown. in just moments we've got the senator who lived through not one, but two brutal government shutdowns. he saw the devastating effects to the party that pushed it. former connecticut senator, independent joe lieberman on why the president might want to rethink his pro-shutdown tweet storm. >>> and as one of the senate sponsors of the mag anytime sky act, we will ask him about facebook, russia, election interfere

the bunch since the election but look at some names, techs hitting higher, nvidia and sales force and adp. these are the tech type names hitting highs. while the dow is not at the record there are dow stocks in that dow 30 also hitting highs today and a lot of folks have these in their portfolios. unitedhealth, visa, and american express are the ones. i'll toss it back to you. last thing we got today which was good news on durable goods. while the headline number was weaker-than-expected. non-defense goods excluding aircraft, that is the business spending that did better than expected. looks like we'll lock in another winning week here on wall street. dow, winning week for six out of seven weeks. cheryl: thank you, nicole petallides on floor of new york stock exchange. now we want to bring you this news today that senator john mccain has chosen to discontinue medical treatment for brain cancer. the arizona is battling aggressive form of the disease in the past year. in the statement, it was a graceful statement they put out from his office in d.c. they said the progress of the disease and

and finally the adp report, 219,000 jobs added.he official labor numbers on friday from the labor department. elizabeth: we will be monitoring elon musk. he runs tesla. we're going to monitor whether he says anything combative on his earnings call with wall street. tesla's stock did lose $2 billion in value after last quarter's earnings call when musk said, he insisted investors, if you're concerned about volatility, don't buy tesla's stock. and told day traders please tell our stock don't buy it. to a video going viral, a local connecticut official, she was booed as she knelt during the pledge of allegiance. she did it to protest president trump. ♪ >> i pledge allegiance -- [inaudible conversations] elizabeth: that's her free speech right. we'll show you how some in the community reacted, plus a federal judge at the 11th hour stopping the release of downloadable instructions to make untraceable, undetectable 3-d printed plastic guns. judge andrew napolitano will weigh in on whether or not this is an attack on free speech. but firs

adp was over 200,000. should be another month much over 200,000. all the fiscal stimulus is juicing things up, that will be the case, next 12 to 18 months. trish: mark, thanks for joining us. adam, kristina thank you. we're down 130. sitting near the lows of the session right now, amid this news that the fed is ticking to the script. coming up next, karl rove, former deputy chief of staff to president george w. bush, he is going to join me on how these trade tensions to affected midterms and a whole lot more. stay with us. metastatic breast cancer is relentless, but i'm relentless too. mbc doesn't take a day off, and neither will i. and i treat my mbc with new everyday verzenio- the only one of its kind that can be taken every day. in fact, verzenio is a cdk4 & 6 inhibitor for postmenopausal women with hr+, her2- mbc, approved, with hormonal therapy, as an everyday treatment for a relentless disease. verzenio + an ai is proven to help women have significantly more time without disease progression, and more than half of women saw their tumors shrink

we had a great adp number yesterday.whisper number going in i suspect will have a 2 handle >> jason, the market still wants to see good news it's not a situation where we want it too hot. >> you want to keep it warm, not too hot. i think the focus will be more on the hourly wages than the number we will get 200 in the ballpark. it's really more about the inflation story. >> jason, thank you. >> sure. >>> more coming up on "squawk box. we will get you ready for today's big ipo at the nasdaq. wireless speaker company sonos and don't miss our interview with the company's ceo, that will happen at 8:00 a.m. eastern time we'll look closer at casino stocks, some of the biggest movers this morning. stay edtuned. t right our bond is fraying. how do we get back to "us"? the y fills the gaps. and bridges our divides. donate to your local y today. because where there's a y, there's an us. ♪ it is such a good time to dance ♪ ♪ it is such a good time to [ laughing ] ♪ scoobidoo doobidoo ♪ scoobidoo doobidoo [ goose honking ] ♪ [ laugh

the correct direction takes a lot to knock it down i think right now, we're getting started seeing adpgain coming back to the workforce i like to see labor force participation a little bit higher again we have opioid cries that is kind of holding down some construction, and some of the hourly earnings numbers i think, you know a lot of stuff to work through but on balance, we have great earnings, great economy, and market is telling us that, right now. >> did you just say adp up 5% you meant atlanta fed looking at 5% economic growth that is a moving number we know that i am a little confused as to why this market is not showing any reaction whatsoever let's get to nicole petallides on the floor of the new york stock exchange with early reaction to july jobs' report nicole flat market here. >> good morning, maria. i am interested in here right now as we got this report, noting going to keep fed at bay before this report we had 96% likely hooded fed fund futures to have rate hike september, 27% december now people talking about january, in particular, but what was interesting about this

the big jobs number tomorrow, adp suggests that will be strong yet again.y sets the mood for at least a couple of weeks >> i think that that, plus treasury auctions, are going to make it so we go the 3.1, the 3.2. tech stocks will be down again today. they are a good place to go on all this news. i like that very, very much. >>> let's get to the opening bell and get a look at the s&p on the left side of your screen. big board today celebrating its ipo, the chicago-based real estate service ompany. over at the nasdaq, another ipo today. [ opening bell ] prices are 15, the longer range of $17 to $19. they'll raise about $38 million. >> they've never made money. a lot of us like the product but that doesn't necessarily mean you like the stock i'm doing a lot of work on that because i'm kind of mystified about whether that's something i shouldn't be recommending on "mad money." >>> tesla is obviously the one we'll key off of first lot of discussion about the quarter, the cash burn a little bit lighter than some were expecting $2.2 billion on hand then not dismi

have a series of discussion with aiib president, and many of the project in confidence with world bank adp. [inaudible] number of staffers. the aiib was still not able to make assessment of project by -- [inaudible] there have been a lot of opportunity. so the australians, the europeans, better than we have expected on the aiib. but still, we do not consider to join the aiib yet. >> okay. great. rick? >> -- ray? >> we're not an agency, so every one we make we expected to get paid back with interest. and and so as we travel around the world, i was just in africa the last three weeks and countries like zambia or rwanda, botswana, and you land in these countries in these spectacular airports that the chinese built that have no prayer of getting paid back. i mean, the one in botswana, many cities in the united states would love to have it, and they have four flights a day in this airport. they spent tens of millions of dollars building it. the chinese, when i run into it, they've got kind of a loan to own program where they want to own the project at the end of the day, and they're overlending

the strong adp number suggests it will continue to grow.upply coming to market. 3%.10 year threatening analysts are saying we are going to cross that today. we may hold over it for a strong jobs report on friday. that raises borrowing across the economy for everyone. thank you. that was michael mckee. fed watching for the decision coming up at 2:00 eastern time. here withchandra first word news. >> trade can be resolved through negotiation and blackmail won't work or the u.s. wants to ratchet up pressure on china to resume trade talks. bloomberg has learned the trip administration may double planned tariffs on chinese imports. they may be waiting for the u.s. itmake -- take action before reveals its next move. learned twog is countries are in the final stages of negotiating a deal on rules for cars sold under nafta. mexico's economy minister will come for u.s. trade or presented to talks. and theresa may cutting her vacation short to gain support for her brexit plan. meet manual macron and the south of france and emphasize the risk of the u

adp came in above the estimate and the ism manufacturing remains at a high level. i know you guys are following this and we'll follow it more. those vehicle sales seem a little weak. that's the first piece of data for the third quarter. >> in light of what the president has said lately, do you think there will be anything in the statement as sort of declaration of independence, to use a pun, to try to reassert what is the general custom here? >> you know, i think you're clever to say that is a tool in the fed's toolbox. i don't think the fed will believe that now is the time to use it i don't think the federal reserve feels especially threatened by what's happened previously, but if it does get to that point, you'll note, by the way, that powell several times has asserted the fed's independence, almost gone out of his way rhetorically and gives a speech and says, oh, by the way, we're very independent it is something he can use in the future but i don't think this time around. >>> in the meantime apple shares rallying on the back of strong earnings, hitting $200 a

be adp election seems to foregone conclusion. is anything we should be looking out for? should be looking out for? >> he could be the longest prime minister ever to serve in japan. we are looking for now is the policy he will put in the run-up to the vote. two major issues he could touch on. one is immigration. he could bring in a larger number of lower skilled workers. fa another area he couldce talk about is his will to change the constitution. that could prove quite divisive in japan so it depends if he will invest the political capital needed to push that through. kenneth 20 is what we are looking at, what kind of scene are we setting for a successor? >> at the moment, he is facing one opponent who is a former defense minister. she fails -- if he feels -- fails miserably that could spell the end for leadership hopes. in ae also could be position to anoint a successor. one person he has mentioned is the former foreign minister. another person that is a dark horse candidate is a's right-hand man -- abe's right-hand man. he has been a driving force behind some of the ch

the founder of pershing square slashed hits stake in adp where just a year ago he was kicking off whaturned out to be an unsuccessful proxy contest ackman doubling his stake in united technologies and disclosed his share ownership of lowe lowe's other notable moves were coatue dissolving a stake in snap and david einhorn preferred gap and t.j. x ajx >>> and value act cut its stake in 21st century fox. all these stakes are as of june 30th and may have changed in the six weeks since. >> einhorn s he's like walki, h like -- >> ouch. >> he's everywhere that's bad right now. >> he's unlucky in a way >> don't stand around him. sputnik will fall on his head. sorkin, he has got -- sputnik, remember that? >> i do remember >> it was going to come down or maybe some other thing he managed to find everything that's bad >> he's famously short tesla >> he short shorts, the tweets, all of it. >> you know that elon musk's next plan is to sell sho short shorts online. >> seriously >> yeah. >> i thought that was a joke >> i don't think it's a joke >> they're back, i heard >> tesla short shorts. >> for g

adp comes out with the job support and the government numbers comes out on friday. 836,000 manufacturing jobs. >> sandra: incredible. >> 19 months prior to that, 26,000. no wonder they thought it couldn't be done and said you need a magic wand and they said it's impossible. 836,000 in 19 months. >> they were getting used to it and we came to a point we were just anticipating it. >> we learned how to appreciate mediocrity. maybe we'll set the bar too high but i think we are now. >> sandra: what is going on with wages. we're seeing better numbers on the economy wages were stagnant. are they moving? >> they're moving but not as fast as they should. two things hurting wages. one, the people who are making the most money as they leave the job force you have younger workers coming in don't make the same amount doing the same kind of jobs and the skills gap is deafening. everything people talk about. i don't care if it's tariffs, federal reserve. the number one impediment to our economy is the unskilled worker. if we can get people skilled up forget about it. a big push la

numbers this morning out of 8:30 initially jobless claims layoff rate close to historic low, yesterday adpong report tomorrow probably a strong economy that is president trump' leverage, because china is beginning to slow down, he he extort orders down china port down in tariffs pressure from strong economy by president trump long run, i suspect that the president is going to win on this one, i don't know how big sooner or later somebody going to blink i think china i think we come out ahead of the game having said that, many i think today is more like a one day blip the computers read one day headline negative on trade the sell orders go out dow comes down we have seen this before usually bounces back again, i think that is what is happening today, about it longer term i think president trump wins this one. >> we will see about in a. >> we will you sound concept tally. >> concept tally. >> i think what he is doing with china is right because of intellectual property i am questioning whether or not it is ever going to change behavior. because they won't admit they are doing it so he is try

in that range there related data heading in pointed to strong gains including low jobless claims and adpay. meanwhile a lack of skilled workers is the number one complaint of employers >> why don't they train people instead? >> i think they're doing some of that i think they've been conditioned in a pavlovian way to rely on states to provide the training i think a lot of businesses haven't been geared up for many decades. they're looking to local community colleges we don't see a whole -- i don't think they're geared up -- >> for a private/public partnership. they're out there. the trouble is i don't think -- we did one remember we did the louisville thing where they were trying to get talent at the high school level. i also think that they need to internalize it as well there was a lot of competition between municipalities and it covered things where a southern state would woo a northern company. part of that was always this job training thing >> 125 years ago, only like 12 rich dudes went to college and somehow the economy grew we did apprenticeships we've got to back to that kind of t