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American Morning
Minding Your Business: Not So Much Help Wanted
Aired February 24, 2003 - 07:48 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
PAULA ZAHN, CNN ANCHOR: If you're looking for a job, look out. There is some bad news about the job market.
With that, and a market preview and a look back at last week's markets, Andy Serwer, Minding Your Business." Good morning.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you, Paula.
Last week was a good one on Wall Street. The Dow was up 109 points; so were the other indexes. There you go right there. Up two weeks in a row. Overall, though, Paula, no real trend. The market wandering aimlessly. Sort of like Dustin Hoffman's opening remarks last night...
ZAHN: I missed them.
SERWER: ... wandering aimlessly.
ZAHN: Were they awful?
SERWER: Yes, they were bad. Sorry, Dustin. They were...
ZAHN: What did he talk about?
SERWER: I didn't understand what he was saying.
ZAHN: Oh.
SERWER: OK. Anyway...
ZAHN: Roll the videotape.
SERWER: Yes, let's talk about the job market. A new survey out this morning showing things are not that great. Companies are not going to be hiring that much in the second quarter.
Let's check it out here. Holding steady, 63 -- well, that's (UNINTELLIGIBLE), 22 hiring, I wouldn't count on that, and 9 percent already saying they're going to cut jobs. Really not a good situation, especially if you look at where the jobs are going to be -- where the jobs are.
And the reason this is really bad, Paula, is I'm thinking about people coming out of school right now. They like to get jobs in finance, retail -- those are some white-collar jobs. The blue-collar jobs, well, you're going to graduate from college and go into construction. The job meter, the econ-o-meter, let's take a look. Ill call this kind of tepid. We have this here. Because it's not as bad as I thought it was going to be. But still, not great. And again, war hangs over everything here. That's what is going on in this climate.
ZAHN: I just want to know where those numbers are on Election Day 2004.
SERWER: Yes, that's going to be very interesting, right?
ZAHN: Do you want to make a guess?
SERWER: I guess it will be...
ZAHN: Or a projection?
SERWER: I guess it will be up a little bit if the president has any say in that.
ZAHN: Andy Serwer, that's playing it safe.
SERWER: Yes.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Aired February 24, 2003 - 07:48 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
PAULA ZAHN, CNN ANCHOR: If you're looking for a job, look out. There is some bad news about the job market.
With that, and a market preview and a look back at last week's markets, Andy Serwer, Minding Your Business." Good morning.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you, Paula.
Last week was a good one on Wall Street. The Dow was up 109 points; so were the other indexes. There you go right there. Up two weeks in a row. Overall, though, Paula, no real trend. The market wandering aimlessly. Sort of like Dustin Hoffman's opening remarks last night...
ZAHN: I missed them.
SERWER: ... wandering aimlessly.
ZAHN: Were they awful?
SERWER: Yes, they were bad. Sorry, Dustin. They were...
ZAHN: What did he talk about?
SERWER: I didn't understand what he was saying.
ZAHN: Oh.
SERWER: OK. Anyway...
ZAHN: Roll the videotape.
SERWER: Yes, let's talk about the job market. A new survey out this morning showing things are not that great. Companies are not going to be hiring that much in the second quarter.
Let's check it out here. Holding steady, 63 -- well, that's (UNINTELLIGIBLE), 22 hiring, I wouldn't count on that, and 9 percent already saying they're going to cut jobs. Really not a good situation, especially if you look at where the jobs are going to be -- where the jobs are.
And the reason this is really bad, Paula, is I'm thinking about people coming out of school right now. They like to get jobs in finance, retail -- those are some white-collar jobs. The blue-collar jobs, well, you're going to graduate from college and go into construction. The job meter, the econ-o-meter, let's take a look. Ill call this kind of tepid. We have this here. Because it's not as bad as I thought it was going to be. But still, not great. And again, war hangs over everything here. That's what is going on in this climate.
ZAHN: I just want to know where those numbers are on Election Day 2004.
SERWER: Yes, that's going to be very interesting, right?
ZAHN: Do you want to make a guess?
SERWER: I guess it will be...
ZAHN: Or a projection?
SERWER: I guess it will be up a little bit if the president has any say in that.
ZAHN: Andy Serwer, that's playing it safe.
SERWER: Yes.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
