you know despite the very strong job growth there are so many unemployed and underemployed. it's taking a while to absorb all of those potential workers but the good news is at the current rate of job growth by mid next year i think we'll be back to full employment which means everyone who wants a job will have it and at that point, we should have some pretty strong wage growth and i think we will feel a lot better about things at that time. >> which may free up the fed to make a move on interest rates. at the same time the ecb and a lot of central banks around the world are either holding rates steady or cutting rates. what do you make of the data that's coming out of europe and what are your expectations out of the european central bank? >> they're better sue, because of the decline in oil prices. a real big boost to the european economy because of the weaker value of the euro that's helping and the ecb just about ready to start quantitative easing that's drich driven down rates. that's helping. it feels like the european economy is gaining strength. i'm not arguing it wil

workforce is underemployed.order to get up to what they need to be making, a lot of folks are freelancing and others are saying this is a more entrepreneurial economy. while they're trying to figure out how to do that, they may have a corporate job or regular job while they're trying to figure out how to become more entrepreneurial in the future and freelancing while they're trying to figure out how to do that. >> what's the biggest thing while you're transitioning. >> you can be your own boss and set your own deadlines. to be a successful boss of yourself, you have to be a successful marketer. you have to get the word out there about what you're able to do. a skill set you may not have developed as well in a traditional job. >> practical considerations, what should freelancers know before they really jump in? >> financial considerations you need to make. as you're managing your own finances you have to manage your own taxes as well. rule of thumb that was easy when i was doing freelancing, think about your tax

taught construction skills they can turn into jobs. 2/3 of haiti's workforce is unemployed or underemployedredevelopment projects like the j/p hro program will create some jobs, the government is betting tourism will be the country's golden ticket. ♪ stephanie villedrouin: the president, when he took power, he said, we don't want more aid, we want investment. therefore, we actually invested in sectors as tourism that can bring revenues to the country. stephanie: stephanie villedrouin is haiti's tourism minister. it is her job to get the global hospitality industry to develop the country's coastline into a tourist destinations. she's focused on a tiny island 6.5 miles off the coast, where the government wants investors to create luxury resorts. villedrouin: ile-a-vache is where we started some tourism projects. so we are building a runway airport, a port, and a main road. stephanie: until the airport is built, the only way to get to ile-a-vache is by boat or helicopter. the government has spent $40 million developing the island. so far, no foreign investors have signed on. but carnival is in

you've got people that are underemployed. there's no competition for workers outside the city.ot so much that the bank of england needs to be concerned. it has got to be concerned that the major items in any economy is wage market. the wage market is not showing signs of inflation. david: why is this? we are seeing this plunging unemployment rate, which the central banks said -- we slashed through those levels. no wage growth. adam: i think there's two answers. neither is satisfactory. one is, this is a long-term trend. even when times are good -- [indiscernible] that was true in the mid to thousands. the other thing is we've overestimated the markets. the unemployment numbers they overstate the labor market. you've got all these people in part-time jobs and underemployment. that is true in the u.k. as much as the u.s. jonathan: and record levels of self employed in the u.k. i want to take you back to the headline inflation number. we could see negative inflation this year in the u.k. almost unthinkable 12 months ago. do we face a disinflation or a boom or a deflationary bust?

one in 10 american workers are unemployed, underemployed, or have just given up hope of trying to find a job at all. one of five children live in families that are on food stamps. we need to look them in the face and ask them, is that the best that america can do? the president may be satisfied with 2% economic growth. i am not. the first time in american history, a generation of leaders are on the verge of breaking the social compact, if you will, with the next generation. that is, that we leave a better country for them than what we found for ourselves. fewer of us believe in the american dream now than in the last 20 years for middle-class americans. opportunity and security have been replaced by worry and anxiety. out-of-pocket health costs housing, college tuition, all of them have gone up faster than wages have. student debt is at an all-time high, and this has to change. it is time to restore hope and opportunity to middle-class america. start with our tax code. we had the highest corporate tax rate in the western world. that doesn't hurt companies, it also hurts the american wo

one in 10 american workers are unemployed, underemployed, or have just given up hope of trying to find job at all. one of five children live in families that are on food stamps. we need to look them in the face and ask them -- is that the best that america can do? the president may be satisfied with 2% economic growth. i am not. for the first time in american history, a generation of leaders are on the verge of breaking the social compact, if you will, with the next generation. that is, that we leave a better country for them than what we found for ourselves. fewer of us believe in the american dream now than in the last 20 years for middle-class americans. opportunity and security have been replaced by worry and anxiety. out-of-pocket health costs housing, college tuition, all of them have gone up faster than wages have. student debt is at an all-time high, and this has to change. it is time to restore hope and opportunity to middle-class america. we can start with our tax code. we have got the highest corporate tax rate the western world. that does not just hurt companies -- it also

taught construction skills they can turn into jobs. 2/3 of haiti's workforce is unemployed or underemployedvelopment projects like the j/p hro program will create some jobs, the government is betting tourism will be the country's golden ticket. ♪ stephanie villedrouin: the president, when he took power, he said, we don't want more aid, we want investment. therefore, we actually invested in sectors as tourism that can bring revenues to the country. stephanie: stephanie villedrouin is haiti's tourism minister. it is her job to get the global hospitality industry to develop the country's coastline into a tourist destination. she's focused on a tiny island 6.5 miles off the coast, where the government wants investors to create luxury resorts. villedrouin: ile-a-vache is where we started some tourism projects. so we are building a runway airport, a port, and a main road. stephanie: until the airport is built, the only way to get to ile-a-vache is by boat or helicopter. the government has spent $40 million developing the island. so far, no foreign investors have signed on. but carnival is investi

. >> the best thing we could do to help people who are unemployed or underemployed is fix obama care. >> obama care adds a cost to employment. if you increase the cost of employing someone, you will cause unemployment. >> obama care's the biggest job killer in this country. >> these are the ones that are out front ahead of the pack running in 2016 and all of them are saying that obama care or the affordable care act is a jobs killer. 60 straight months 60 straight months, austan of job creation. how do they run on this how do they stand there and tell the american people something that the american people see is blatantly untrue? >> look you remember in the '90s when the clinton job machine was cranking along and then newt gingrich said well really it was the gingrich economy. i predict they will try to come up with some way to explain how we had 60 months of job growth because of what happened in the midterm elections a few months ago. >> well, they can try, but 60 months clearly does not -- >> exactly. >> -- not include just the midterm elections and their policies, congressman, hav

>> i think -- it is always good to have lower unemployment, but it is never good to be underemployed never good to have the most number of people in the history of america not looking for work anymore and i think the structural problems created by obama care are yet to come and in many ways the epa regulation on carbon, if it goes into effect, and drive up energy costs. and one reason we're enjoying low energy prices, gas prices, is because the arabs are trying to drive iran into the ground. it has got nothing to do with supply and demand. the sunni states that have oil resources are trying to keep oil prices low to hurt russia and iran. >> we have not heard from senate republicans on wanting to open their own version of an investigation into libya or the benghazi situation. does anything that happened this week with secretary clinton's e-mail situation make you rethink the decision by senate republicans to -- whether to participate in an investigation? >> i have confidence that trey gowdy will get to the bottom of this. at the end of the day what i want is what any other cabinet mem

one out of five american children are -- because one out of 10 american workers are unemployed underemployedor so discouraged they have quit looking for work. and i want to say this quite plainly. the unemployment rate is a sham. it leaves millions of american workers uncounted. if the republican party doesn't take a stand for these uncounted americans, who will? [applause] the answer is not to expand the welfare state. it's to build the freedom state and i happen to know what can happen because we did it in my home state. [applause] our formula was simple. you controlled the taxes and spending, provides smart regulations. you develop an educated workforce and you stop lawsuit abuse at the courthouse. [applause] in my 14 years as governor we helped to create almost one third of all the private-sector jobs in america. in the last seven years in the last seven years we created 1.4 million jobs. you take those jobs out of the equation minus those jobs created in texas this country lost a quarter of a million jobs jobs. it's time to bring economic revival to every state in america with policies

.-- the you know or you're underemployed. there are issues in this country that still need to be fixed.i thin i think that's what the president talked about.hy that's one of the reasons why george w. bush was there, because he sees there are still we' issues' we, our o ur ecountry, we have got to and l open ouroo eyes and really look at the facts. and look at it really accurately. and not get upset -- the issue of race is something that we are so scared to touch because we'red put hypersensitive about it on every side. and if we can come down and put the facts on the table and just thin talk and have a civil discussion, i think, you know, things would bear out out differently than they have over the years. >> peg writes on twitter racism was hidden and whispered about until our first black president then it boiled up to the surface and became apparent.an anthony's waiting in flint michigan. line for democrats.ll. anthony, good morning. >> caller: wow thanks for taking my call. >> good morning. >> caller: i was wondering if sh

one in 10 american workers are unemployed, underemployed, or have just given up hope of trying to find a job at all. one of five children live in families that are on food stamps. we need to look them in the face and ask them, is that the best that america can do? the president may be satisfied with 2% economic growth. i am not. the first time in american history, a generation of leaders are on the verge of breaking the social compact, if you will, with the next generation. that is, that we leave a better country for them than what we found for ourselves. fewer of us believe in the american dream now than in the last 20 years for middle-class americans. opportunity and security have been replaced by worry and anxiety. out-of-pocket health costs housing, college tuition, all of them have gone up faster than wages have. student debt is at an all-time high, and this has to change. it is time to restore hope and opportunity to middle-class america. we can start with our tax cut. we have got the highest corporate tax rate in the western world. and that does not just hurt companies, it also

a lot of people are underemployed.lege kids, working at starbucks who could move up as the economy improves. other people would come in to help boost things along. on the jobless claims, there is a weather affect. initially when you have bad weather, you often see claims go down. people who cannot get to the claims office. and then you see an increase because that weather does tend to restrict economic activity. you will see increase in claims. betty: we are going to have to leave it there. scott brown, chief economist at raymond james. also, thank you to jeremy siegel , professor of finance. we are monitoring the news conference with mario draghi taking place in cyprus. starting march 9 you can watch the news conference on our live event channel at bloomberg.com/tv. these are the top headlines. other top stories this morning. the u.s. ambassador to south korea says he will be back at work despite getting 80 stages -- stitches for knife wounds. his attacker says he opposes south korean military exercises. north korea c

it is unemployed and underemployed taking their frustrations out on each other.hen our president doesn't talk about black and white but talks green and global, he probably is doing much more to address the problems of the world than he could if he talked in the terms we are talking here tonight. i want to remind you that we have come a long, long way. amanda jackson, shirley franklin, bill campbell -- they very seldom talked about black and white, but our effort last year generated $32 billion worth of economic and 70 and created 400,000 jobs. that is addressing the last aspect of the moment -- of the movement which we have yet to take on. that is we promised to redeem the soul of america from the triple evil of racism, war and poverty. haven't done a lot on poverty. we've done a lot but it's global impact on the united states of america and our poverty has as much to do with the currency manipulations in china that the president is trying to deal with as it does us being black and white on the same streets. i think we've got to focus on ourselves not as problems

still have problems because of your race, or being declined credit, or cannot find a job or are underemployedthere is -- there are still issues in this country that need to be fixed. i think that was part of why george w. bush was there because he sees that are still issues. we've got to open our eyes and look at the facts and look at it really accurately. the issue of race is something we are so scared to touch because we are hypersensitive about it on every side. if we can come down and put the facts on the table and just talk and have a civil discussion, i think things would thereof differently -- bear out differently than they have. host: on the twitter page. anthony is waiting in michigan the line for democrats. caller: thanks for taking my call. i was wondering if she knows when the drumbeat for netanyahu when he came up, and they applauded and this guy was going to get money for a war. all of these things that americans are upset about right now, we've got a really big water problem. these people will not come here to straighten that out, but they will applauded the drumbeat of war. i'

i say the unemployed folks, the 18 million underemployed and unemployed, they haven't been a part of this conversation like they needed to be. i say that unilateral actions by a leader that doesn't take all stakeholders into account makes those that aren't taken into account not matter. i say we need to have to do this conversation again. this is america. everybody matters. not just those that came over the border illegally but those that have been here looking for jobs for long periods of time. i say we can do better. i say we can have a broader conversation. i say everybody matters. you all know these people that are unemployed. they're in your family. they're your close friends. they are the people you see every day doing the jobs that some of us wouldn't want to do. i say those people matter. i say, mr. president, before you do a cramdown of the law for the benefit of one group of our society, i say all the groups of our society, particularly the unemployed also matter. the speaker pro tempore: the gentleman's time has expired. mr. clawson: and i yield back. the speaker pro tempo

so by having a weak, chronically underemployed economy you're also going to get, eventually an economy which is not as productive as otherwise would be. so that's that's roughly the, my overview and, of course larry has no responsibility for my summary of his views, of the secular stagnation hypothesis. let me now just give a few concerns that i have or a few potential responses, you know and give it an alternative perspective. i would say, first, just a few points. first, i think the notion that the real interest rate that you these to get full employment has to be, actually quite negative which is what you need, because the fed can get real interest rates down to -2 if they have a 2% inflation target. that's a little bit strong and most economists would argue negative real interest rates there's got to be things that are productive ultimately, at least in the normal growing economy. when i was on panel when larry first introduced this point about secular stagnation, and i reminded him of what his uncle, paul samuelson, taught us in school because in that world it would pay to knock d

save our sons takes underemployed young men and train them and matches them with local jobs. we are expecting to hear more on this, including when the program may be up or running in a press conference tomorrow afternoon. >> thank you, sarah, for joining us from ferguson. >>> a warning for americans in saudi arabia today. the united states embassy is cancelling service for two days because of security concern. they had a threat by militants to capture western oil workers, including americans, from the oil fields there. saudi arabia is among coalition of countries helping the u.s. to fight isis. >>> a new study suggests viewing e-cigarette ads could encourage the to smoke regular zetscigarettes. >>> eight people are dead after a category five cyclone ripped through a south pacific nation this weekend. cyclone pam tore up trees and homes in vanuatu. it had winds of more than 185 miles an hour. >>> this winter's blizzards are having a drastic effect in several states as the weather warms up. ice jams like what you're seeing here in northern ohio and the melting ice are causing s

threats of regulations what it is doing two jobs seeing more and more people working part-time underemployed. i i believe it is directly attributed to the regulatory embodiment. all of us no. she sits at the kitchen table. she wants clean air and water but her 1st and foremost request: i want a job for my son. something has shut down as a result of overregulation. i am struggling with that. poor modeling with heavy trucks. in 2010 he said it would be about $3,400 but we are seeing three times that cost. mercury and air toxin standard for your prediction said would only be ten gigawatts of power shutdown. the department of energy and others say it could be six or ten times that amount. yet you continue to issue more regulation even though the model is saying it does not work. a model that talked about how co2 impacts the temperatures around the globe. we no that does not work. let me close and the time i have. a george mason university report. regulations can affect job creation, wage growth and workforce skill mismatches can result in lower labor workforce participation and higher unemployme

very much like valerie -- is also the case that if part-time underemployed is elevated in at a given state in a given year that that also dampens very significantly. and if you look at the state-by-state participation rate, particularly in the earlier work we looked up prime age in this paper, it's all of those, all working age adults but also affects. as ben bernanke said, these two seem to be forms of slack. it's not just the on the public right of people who are completely unemployed, and complete out of work and searching for a job. it's people who are partly employed. by definition they are employable because they have a job they are showing up to work every day but just 20 hours we can they really want a 40 hour a week job. >> is getting $2 destination mean your wife has to get a job? >> no. >> okay, fine. that was a joke last night. >> two points. what is just what we're getting, all talking that because i took some of andy's work and some early work he had done with atom, and i did the following exercise which i thought was a good way to explain these dynamics, that we been t

however, despite this improvement, too many americans remain unemployed or underemployed, wage growth is still sluggish, and inflation remains well below our longer run objective. as always the federal reserve remains committed to employing its tools to best promote the attainment of its objectives of maximum employment and price stability. thank you. i'd be pleased to take your questions. >> madam chair. i first want to get in to the measures of inflation you touched on that a little. the federal reserve, i understand, currently uses an inflation measure of core personal consumption expenditures or pce, which excludes volatile food and energy prices. several alternative measures of inflation exist, including one called the trim mean pce, which strips out a larger basket of volatile items from the calculation. i know you know all this. do you think that the federal open market committee should incorporate alternative measures of inflation such as trim mean pce? and could you explain to us the risk of not properly gauging inflation expectations? >> so, let me first say that the federal

african-american market out there looking for content that appeals to their interests, and there's a huge underemployed pool out there looking to go to work. if you can get african-american consumer who have proven in the way that -- the amount of money they spend on movies and music and other things that they're willing to pay for specialty content to their interest and you got a talent that's under work and you put those two together and have an internet system where there are no gatekeepers, where there's nobody keeping you from getting to your customer you've got a pretty powerful opportunity, so the urban movie channel on rlj entertainment is exactly that. it's a way to deliver content to an audience and provide talent a chance to showcase their talent and make money, and at the same time do it in a way where the internet becomes an open network that has not only national potential but global potential on any device that you want to see it on. >> quickly on this issue of gatekeepers and the open internet, i would imagine as a startup you support net neutrality, what the fcc has done here or have y

le with 20 million americans unemployed or underemployed or have given up we put a fraction of a percent of tax on wall street speculators and fees on big polluters to finance more than $1 trillion in investment to repair our roads and bridges upgrade energy systems, and prepare our young people to thrive as citizens and workers. this budget will create 8.4 million jobs by 2018. when i came to congress a number of decades ago, to fight for dr. martin luther king's priorities jobs justice, and peace, the progressive caucus does it. the chair: the gentleman's time has expired. mr. ellison: at this time sprs we yield one minute to mr. nadler, the gentleman from new york. the chair: the gentleman is recognized for one minute. mr. nadler: i thank the gentleman for yielding. madam speaker, for the fifth year if a row the republicans have put forth a budget that devastates nondefense spending and dismantles medicare, medicaid chip, and aid to college students. it gives a $200,000 trach to the wealthiest americans while imposing a $2,000 tax increase on working families. it abandons our critical

lawyer is your jima is a time we stayed away are the range of the guns all end davis thinks going underemployeding it on their flight in the rinse water them as our flight departed. try >> reporter: and some showers across the north valley and some rain plus more in shares is your son tracker 74 kessel was details coming up. the thickness >> reporter: a spawn 24 the right hand for caldecott tunnel so close will be a toll of the clot accident occurred here there was a fire. i fully no one injured going to the hospital fire extinguisher in the right borman's closed. greta van inspection right now not expected to the open to love and s 8680 still backed up getting in the san ramon valley attend car crash here of the title very early morning hours. >> reporter: tracking their rest of your commute the right to the bay bridge san now much more than usual here westbound ride. trip to the san mateo bridge an easing just a bit now but backed up earlier than usual and has been on spot for most the morning. that appears as they exist only quite well over the richmond bridge of by the westbound still compl

they're underemployed. i could go on and on and on. i really believe it's directly attributed to the regulatory body with it. i think all of us know a mill drid schmidt. she probably lives right next door to you. she lives next door to me. hill dread schmidt sits at her kitchen table. she wants clean air and clean water but her first and foremost request, i want a job for my son. i can't find a job because either the coal mines are pulled back or the steel companies or chemical -- something is shut down as a result of overregulation. and i'm struggling with that and i struggled with the second about your poor modeling. that i have heard the talk about it. here was the poor modeling is with the heavy trucks. back in 2010 you said there was going to be about $3,400. but we're seeing three times that cost is what it is going to affect with it. we see the mercury and air toxic standards that your prediction said that there would only be 10 gigawatts of power shut down. but the department of energy and others say it could be six or ten time

affect their motivations and their connection to fiber market, -- labor market, citing a weak underemployed economy you're also going to get eventually an economy which is not as productive as otherwise would be. so that's roughly my overview, and, of course, larry has no responsibly for my summary of his views of the secular stagnation hypothesis. let me now just give a few concerned that they have, a few potential responses that give it an alternative perspective. i would say first that just a few points. first, i think that the notion that the real interest rate that you need to get full employment has to be absolutely quite negative, because the fed can get real interest rates down to minus two advantage 2% inflation target. that's a little bit strong and most because would argue negative real interest rate is got to be things that are productive ultimate at least at a normal growing economy. when i was on a panel with larry first introduced the point about secular stagnation, and i reminded him of what his uncle todd was in graduate school which was that paul argued real interest rates

still have problems because of your race, or being declined credit, or cannot find a job or are underemployedthere is -- there are still issues in this country that need to be fixed. i think that was part of why george w. bush was there because he sees that are still issues. we've got to open our eyes and look at the facts and look at it really accurately. the issue of race is something we are so scared to touch because we are hypersensitive about it on every side. if we can come down and put the facts on the table and just talk and have a civil discussion, i think things would thereof differently -- bear out differently than they have. host: on the twitter page. anthony is waiting in michigan the line for democrats. caller: thanks for taking my call. i was wondering if she knows when the drumbeat for netanyahu when he came up, and they applauded and this guy was going to get money for a war. all of these things that americans are upset about right now, we've got a really big water problem. these people will not come here to straighten that out, but they will applauded the drumbeat of war. i'

one in 10 american workers are unemployed, underemployed, or have just given up hope of trying to findob at all. one of five children live in families that are on food stamps. we need to look them in the face and ask them -- is that the best that america can do? the president may be satisfied with 2% economic growth. i am not. for the first time in american history, a generation of leaders are on the verge of breaking the social compact, if you will, with the next generation. that is, that we leave a better country for them than what we found for ourselves. fewer of us believe in the american dream now than in the last 20 years for middle-class americans. opportunity and security have been replaced by worry and anxiety. out-of-pocket health costs housing, college tuition, all of them have gone up faster than wages have. student debt is at an all-time high, and this has to change. it is time to restore hope and opportunity to middle-class america. we can start with our tax code. we have got the highest corporate tax rate the western world. that does not just hurt companies -- it also hu

i say the unemployed folks, the 18 million underemployed and unemployed, they haven't been a part ofhis conversation like they needed to be. i say that unilateral actions by a leader that doesn't take all stakeholders into account makes those that aren't taken into account not matter. i say we need to have to do this conversation again. this is america. everybody matters. not just those that came over the border illegally but those that have been here looking for jobs for long periods of time. i say we can do better. i say we can have a broader conversation. i say everybody matters. you all know these people that are unemployed. they're in your family. they're your close friends. they are the people you see every day doing the jobs that some of us wouldn't want to do. i say those people matter. i say, mr. president, before you do a cramdown of the law for the benefit of one group of our society, i say all the groups of our society, particularly the unemployed also matter. the speaker pro tempore: the gentleman's time has expired. mr. clawson: and i yield back. the speaker pro tempore