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Former Biden adviser: 'not seeing a ton of sunshine' in jobs report

State Beacon Published May 4, 2012 Reviewed Jun 30, 2026 ✓ Reviewed by citations.press editors
Former Biden adviser: 'not seeing a ton of sunshine' in jobs report
The unemployment rate could fall to about 7 percent by the upcoming election, according to Joe Kernen.
about 7 % · unemployment rate Joe Kernen
Joe Kernen stated that Democrats have an 8.1 unemployment rate.
8.1 % · unemployment rate Joe Kernen
Joe Kernen stated that Jared Bernstein does not like 115,000 in job growth.
115 thousand · job growth Joe Kernen
Joe Kernen stated that Jared Bernstein does not like the unemployment rate being above 8%.
more than 8 % · unemployment rate Joe Kernen
Jared Bernstein indicated that recent job growth numbers are around 130,000 or 120,000.
about 130 thousand · job growthabout 120 thousand · job growth Jared Bernstein, former economic adviser to Vice President Joe Biden
Joe Kernen stated that Democrats view the unemployment rate as 8.1% and believe it could reach a '7 handle' by the election.
8.1 · unemployment rate (Democrats' view)about 7 · unemployment rate Joe Kernen
Joe Kernen suggested that Jared Bernstein dislikes job creation numbers around 115 and an unemployment rate above 8%.
115 · job creationmore than 8 · unemployment rate Joe Kernen
Jared Bernstein stated that it would be ideal to see job creation around 180, as opposed to current figures of 130 or 120.
about 180 · desired job creationabout 130 · current job creationabout 120 · current job creation Jared Bernstein, former economic adviser to Vice President Joe Biden
A labor demand level of around 180 is considered good compared with 130 or 120, according to Jared Bernstein.
180 · labor demand130 · labor demand120 · labor demand Jared Bernstein, former economic adviser to Vice President Joe Biden

Jared Bernstein, a former economic adviser to Vice President Joe Biden, said he is "not seeing a ton of sunshine" in Friday's job report released by the Bureau of Labor Statistics, in a CNBC segment.

JOE KERNEN: Jared, every month both sides always have something. You guys, Democrats, have the 8.1 and, by all indications, it, looks like it could be a 7 handle by the time there’s an election. But I know, as a former labor expert, you don't like 115 and you don’t like even being above 8, right?

JARED BERNSTEIN: No, you're exactly right. I’m just not seeing a ton of sunshine in here. I get your point on the tick down in the unemployment rate but it's not the kind of tick down we want to see. Look, I appreciate your introduction, because while it's always tempting in this town to go to the political space, my whole career, decades in this business, I think the thing that’s mattered most to me because I’m focused often on the middle class and low-income people, is labor demand. And we are stuck with labor demand that is just too darn weak. And you can talk about some wiggles in the numbers, and it’d be great to be around 180 as opposed to 130 or 120. But in fact I thought we were into a bit of a slog even before this downshift over the past couple of months. So, I'm not pleased with what I’m seeing.

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