alan krueger, your reaction? i said we would see job growth slow and the labor market is tight? that is what we saw. 168,000 in the household survey, but the unemployment rate fell .2% of the labor force the patient rate held steady. this is what one expects to see when you are approaching full improvement --employment. there markets are wrong -- anticipation? alan: that would be my initial reaction. alix: what about 4.5% --will they have to lower that or stick around this level? alan: the fed has to make a decision -- is 2% inflation a ceiling or a target? we have been below or above for little bit of -- for little while. i think it is ok to run the labor market a little bit hot given how loose things have been and how low inflation has been. jonathan: the market fading. treasury yields down by 4, 5 basis points. the two life year down by 1.5 basis points. we can cross over to bloomberg surveillance where tom keene and david gura are standing by with bill gross. fromjoining us, bill gross janus capital. 170,000

>> reporter: princeton university economist alan krueger is one of the independent researchers that will analyze data from the basic-income experiment. he was visiting the pilot village along with givedirectly co-founder michael faye. so, this is the questionnaire that recipients go through? >> that's right. >> reporter: it's pretty weighty. how long does it take to actually get through all these questions? >> at the moment, it's taking just under three hours, and we're trying to cut it down. participants will be asked about everything from their hopes for the future to their incomes. you don't just focus on a single outcome, you have to look at a range of outcomes. >> how did you react the first time you heard about it? >> reporter: although worlds apart, faye believes lessons from the universal basic-income experiment in kenya will be relevant to europe and the u.s. that might seem like apples and oranges to a lot of people, kenya compared to the u.s. >> it is absolutely apples and oranges, and you could also say detroit and oakland are also apples and oranges. and as an economist, thi

this friday, an all-star lineup of gary cohn, mohamed el-erian, and alan krueger.ine revs ] [ screams ] [ shouting ] brace yourself! this is crazy! [ tires screeching ] whoo! boom baby! rated pg-13. [ screams ] [ [ screams ] ] [ shouting ] brace yourself! this is crazy! [ tires screeching ] whoo! boom baby! rated pg-13. [ screams ] jonathan: from new york city, this is "bloomberg daybreak." we are 23 seconds away from the cache open in new york. futures are positive. the s&p six points on 500. an upside surprise on the adp report. we have gotten used to that, haven't we? the enthusiasm there are ahead of the board. -- single basis points. the dollar rising firmer by .1%. that is the situation. 10 seconds into the open. let's get you to abigail doolittle. abigail: we are looking at a bullish open for the major averages. the dow, s&p 500 and the nasdaq trading higher on the open after choppy trading yesterday that ended in small gains after the blowout adp report you mentioned. laterad of the minutes today. it will be adjusting to see if averages hang on. theenergy c

i know you have alan krueger on later area he knows this deeply are -- he knows this deeply. fair globalization? ellen: it is through trade policy, but it has to be well thought out with concessions on the part of both parties. we will see what comes out of tax reform later this year. we have discussions about how to wrap up trade protectionism in a corporate tax reform. all of these things are on the table for discussion because we are trying to figure out how we can level the playing field. we don't have any clarity yet and that's difficult for multinationals in the u.s. we see a positive business decision-making with a surgeon small business. he shape and tax policy that encourages money to come back in the united states? element: there has to be an influential part of the you -- white house this year. unfortunately, -- -- he has got to carry the message forward of what the white house is looking for in terms of repatriation and lower corporate tax rates and adjustability across the board. that will give us a fair playing field. tom: you were great to sit on the same set w

alan krueger says no and there's a notion, and i think we might as well try, that there are people onft, who are in the prime working age, who could come back. what's your take, austan? >> look, i hope they're coming back. and let's try. let's try to get them back in. on some of the grounds, most of the people who are out are older, and it's the aging of a population. it's the main thing that's driving participation. there are some prime age as erica will say maybe they could come back, but you've got some issues there of, some are injured or on disability. you've had incarceration of some part of that population to have a hard time getting back in the job market. and so, the nut to crack on that is a little harder than just the normal business side. >> in the bls, the guidelines, is a tenured professor at like university of chicago a -- >> a hero? >> do you consider this part of the workforce? or zero of the workforce? >> i mean -- >> is that guy actually in the workforce? i would think that it's just right now some gray area. >> if you work for pay or profit during the week that con