Job Summit
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What got referred to is so real estate sales numbers they can now or November it was yesterday which were. And it just off the charts very good days and doubt -
Syre talks Boston Business
Steve Syre from the Boston Globe talks banking
little punch at every day at this time we do the Boston business report with the Boston Globe's Steve siren all of that is being brought today by the Wall Street. Journal Steve -- good morning. -
Steve Syre
The Boston Globe's Steve Syre talks about the current economic climate
in their house it's the people own them and death. And their retirement plans which is that the stock market were talking about their bank account those are. Out of the typically the three legs -- you know the housing market didn't stocks are doing better but the housing market is still. Flopping around and does do word -- yet other numbers we were disillusioned by. Financial numbers these days but got -
Steve Syre - Boston Globe Biz Reporter
Syre talks housing
were coming up against that deadline for the the first time homebuyer tax credit that -- grant tax credit which was supposed to expire November. And I think clearly that had an impact on people's saying. Well we don't know it's gonna be extended or not in October or early October we really gonna. Start building a new house and hope for the best here. And things kind of fell down a little bit. That you know the good news is I think it is bumpy and it'll get better now that the bad news is I think it reflects how important that artificial stimulus. But of the tax credit is in propping up the housing market right now.right I think in the end yeah it's good to get a housing market that's recovering without any kind of stimulus effect did you like that almost everything else we talked about in the economy. You're gonna need to a broader sense of confidence about people's job to -- and you know at least direction only good news on unemployment and and so we really get that I think it's gonna be hard to have something as fragile as the housing market . -- covered by itself and that I think these housing start numbers are another piece of evidence to to suggest that.
Automatically Generated Transcript (may not be 100% accurate)
Steve -- we're always talking about the economy and jobs and not president of had a job summit yesterday what she did take on the big summit.
Quite a quite a bit theater was an. Yeah get a bunch of people are open and didn't bring the pom -- is basically although. I think he's got a a little bit of back talk -- tilt but. -- a lot of a lot of media and photo ops but there's not a lot going on there yesterday.
In terms of the back talking to anything in particular jump out at -- is being either inappropriate are re insightful. That I get outside hey mister president this is this is Williams missed the ball all of this is where there's an opportunity what you take on the given tech.
Now I I think there's did you know clearly some point of view that. If you don't if you're gonna speak to the president and say you know what are you doing about jobs there's been the issue is you know all we hear about is. You know programs that where you're spending a fortune and driving those those. The deficit way off and and if any thing. And besides the money it did indicate they lack of focus that this is still priority won two and three year and it will all we're not hearing about it day in and day out. I think that level of uncertainty among. Some business people and I'll worry about a lack of focus. They're on the jobs issue is over on the economy more broadly it is something that is I think that. The most frequently repeated concern.
Steve what do you make of the the point that the US chamber of commerce was not even invited here that -- large business organization. -- the company's. That's that are members have represent what close to half the workforce in the United States under a 115 million people and then not even invited.
Yeah I I I I don't know what to make of that potato -- I can't say that you know is that the rule was a 100% stop -- you know adoring fans. But does it to your point about the chamber of commerce -- I don't have a good explanation about that I don't really know.
Steve and ever curious if you had been invited we do we did this with some of -- is for awhile. And had the presidency if for a minute you know on this hire a list of things we'd say Mr. President with all due respect. This is what I think is the most urgent and appropriate policy could adopt. I am curious because you've heard us talk about health -- we kicked around cap and trade we've talked about a whole host of things in Steve sire is mind. What piece of advice would you would pop to the president.
I think in terms of creating jobs in getting that part of the economy going again we've talked before about. How would technically that it appears we've been out of recession for months now but the jobless number there's a new unemployment number this morning by the way. Which everybody expects to be about the same at ten point 2%. That that it that the single best thing that we can do that's constructive right now is to try to help. Smaller and medium sized businesses on credit issues those companies are having a hard time getting to credit. The very larger companies have acts. Access to credit but they also have a lot of the resources that make it possible for them to continue to do business. And not hire people they have all kinds of infrastructure that. Can essentially. Allow them to. Do day to day operations and continue to profit without hiring people I think. These smaller and medium sized companies would hire more and do you have an opportunity but they have a legitimate problem.
