UC Berkeley's Shaiken: My Concerns About the Jobs Report

The video discusses the current state of the labor market, highlighting the difference between unemployment and underemployment rates. It points out the slow wage growth and the concentration of job creation in low-wage sectors like restaurant and social services. The video also addresses economic concerns such as the decline in automobile demand and the loss of manufacturing jobs. It concludes with a recommendation for the Federal Reserve to wait before making policy changes, considering the potential risks of increasing downward pressure on the economy.

What implications does the drop in demand for automobiles have on the economy?

What is the significance of the job losses in manufacturing during August?