Steve Syre

" Glorious day Lori -- is dead where's the rain I like that viability of -- I hadn't read that and why that's very clever I wonder who thought of that. -- A I don't know thought of it but I like it to an agreement so what's going on the -- 7 o'clock what do we do 7 o'clock I forget it's well it's what we know now. We're pretty sure we just socket. -- satire from the -- bodies still in business though would you stop yet you know you're year old wise guy ate it every day of the week but particularly on Friday you are really upon -- I'm ready for the weekend -- OK when you could be ready for the weekend and not be -- really yeah I of that trip that's right at delta email us at separatist -- be quite a permanent pay attempt okay. Tied up robust business report with a Boston Globe Steve side and we are delighted to welcome to underscore what all right Bob I. We're delighted to welcome Steve's I -- good -- to Steve."

" I'd -- it's -- coming -- of the union meeting coming out of a couple of bars later."

" How how well. I actually there were there or police lights in the background -- that's I guess it was the clock. In any event -- like go in full would. But we're reading in the USA today that there's an employment report that might be showing and you know some glimmers of light tell us what's going on."

" Yeah you know I collect rent a Condo week this week have been talking about. At different points. The three big issues in front of the economy that. The financial system the real estate problem. And the unemployment problem and this morning that government's monthly unemployment numbers are coming out and you know this isn't good news but everybody's looking for some find that we're slowing down on this -- that we were down in terms of overall unemployment and that new rate of joblessness and you know that. The bad news here is that you know the unemployment rate will probably be. They'll pretty close to 9% which is a big big number. By the that this is the April number that they're coming going to come out with today. And that is that's as a state obviously a bad number what we're looking for is some kind of improvement in slowing it down before things can get better and there's is there a lot of little data points here and one came out yesterday which is. They measure how many new claims there are every week and then try to smooth them out over a four week period in. And -- it -- there that came out yesterday it was that. This trend of new jobless claims is. Still but swelling down from a -- early last month."

" So it's the rate of the coast we're still going to have more people. Out of work. But not that that number of people unemployed not growing as fast there is --"

" That the pace of them joining hopefully we're gonna see. More evidence of that falling down and eventually sometime soon hopefully we'll see the pace of the overall unemployment rate. Slowdown -- even off but it's not even in -- right now it's still."

" Yeah and I don't go to still astronomical. It's just -- astronomical lasts a fraction. Yeah and everybody's going -- out over the fraction of the fraction that's how desperate we are for goodness has no -- and there's no evidence of two of hiring going on at the moment it's still. Unemployment still grows."

" Employment -- definitely have people losing their jobs are still. The front line Trent."

" And you know what happened sir Republican administration is that there -- front page stories about how unemployment is really much worse than what we're seeing. And how the unemployment rate is actually alive because it doesn't measure as an -- people who were given up hope and all that I don't see those right now do you."

" I have seen some of those there's -- you know it Grassley Wright is always a truck effort just I understand. What what the reality to -- number is like that and it's. Clearly between people who have stopped trying to look at people who aren't measured for various different other reasons. I clearly whatever the unemployment rate is it any particular time. The reality is something higher and when you get into high -- times really bad economies like -- now that that that difference between the number the reality. That gap increases and it certainly is."

" Evidence seems to me it's different media coverage I decided just occurred to me I thought we should get on the record there in case. Is there might be some bias in the media it's never occurred to me before that that might be the case but it'd be worth investigating -- So what are you expecting is it do we have any sense of where the trends are going if this is if we're gonna CNN novelists kind of better number or. If if were actually training in a good direction do we know anything about that."

" I think we're we are turning it slowly into a good direction and I think. These weekly new claims trend that I that they came out yesterday is more important than actually the number that is come the big. Overall --"

" You know and then I -- I like sort of 650000. To 600000 is aren't. Are something like yeah and his is that in does that mean something or."

" Well it detonated it and number itself doesn't mean anything. But that didn't do claimed number getting down into the -- 600 is a is definitely a improvement in. Besides the fact it is better that you were people losing their jobs people are focused on that because. I turn and that trend is historically. A signal of in a recession the economy bottoming out in in getting to a process where can start to get better and it again. That does the sheer numbers and the reality on the ground is a good thing and are not so bad thing. But also it's an indicator. Hopefully of something more important in larger. In the economic picture overall unemployment has one of those things that as you. Is -- economies and the recession. And slowly starts to find out unemployment is one of the last things that actually start to improve. So it's a it's a long way alcohol without saying. You know things are gonna get better and then you know the unemployment rate is gonna start to go down but. You know. As we've said quite a few times here recently that all those sort of issues that could. And make a turn for the worse -- dragged everything down unemployment is the single biggest thing if more and more people faster pace start. Losing their jobs that means they don't pay their mortgages means they don't go shopping. It means all kinds of things that worked through the economic cycle that are bad -- every at a category for every person."

" Steve peer into that crystal ball the doesn't tell us if you it to the extent he can widow will the first signs of hiring where they likely to recur is going to be in manufacturing in medicine China. Yeah half half in China. -- did you know I know it's just aghast but give it your best guess on that."

" Well I think if you look at you know is going to happen in and financial services in this area a big employer I think no. I would you know some sort of manufacturing particularly manufacturing that has. Specific. Advantage in that they have products that even though it -- Mediocre economy people continue to need. We're inventories have been work down and that is not a matter that you know just demand has dried up but. People have been squeezing their inventories of products down to save money on -- Production that eventually those things have to start to turn around because there is nothing left in the where -- server or whatever. But those are the areas that I think. I would showed some kind of first improvement but it's a slow saying it's not -- if it isn't uniform across. -- thousands of different companies and it's not going to happen like a flip of the switch I think. Those types of manufacturing jobs and things that that the high technology. Environment and economy need I think a lot of these. Tech manufacturing companies are the ones that have been squeezing their inventories as much as possible."

" I want to give us a quick update on the globe you -- have a meeting last night."

" We have meeting last night yes and there is if you want at a meeting whether anything was voted on and -- the fact it was even a vote scheduled yet but. You know I think get to the purpose was to. Explained -- of a fairly complicated. Contract proposal and and what happened all the details are. He'll find it pretty grabbed their you know bad economic news about a dozen different bullet points that we're kind of complicated and -- agreed it with you know a lot of confusion and frustration as you can imagine that that's kind of we will have its process of moving forward and you know people talk about these things is if everybody's going to vote for that and approve them and I would say. That's not a foregone conclusion it's there's a lot of."

" There's a lot of turmoil -- last -- well that. May in fact work out but it's right now we're at the turmoil stage."

" I wonder if it's like. -- morning you know like you lose a loved one -- got to go through that emotional process and then we'll come around. Because whoever what are you gonna do is powerless to work."

" That is that in fact the case I would say there are other options but all the more bad."

" How long does management wait for you folks in the unions to make get to have you ratification are you rejection of the proposal. You know because they put up prettier urgent deadline on -- in on the may first deadline everybody's from."

" In any kind of deal like that not just our union but all unions that you legally have a period of thirty days vote up or down."

" I -- We'll keep us posted Steve and enjoy a the."