The last half hour, use the hashtag aj, august job numbers are out, its a mixed picture. You probably have had some analysis already, if you havent, you probably will. Before we analyze a problem we ought to understand what were talking about. Lets start with the number of new jobs created in august. This is an important number 169,000. Thats all the new government and private sector jobs that were created minus those that were lost. We were expecting a better number than that. Your numbers should focus often this, 7. 3 , the level of unemployment. This rate is calculated from an ever changing pool of workers, a pool consisting of those actively working looking for jobs making calls send i their recess sending their resumes out and going for intruches. That interviews. Add them to the unemployed plus the millions more who are underemployed, theyre working part time because they cant find full time work. And thats what you get to 13. 7 of the workforce. Thats 21 and a half Million People in america distressed in some way by their employment situation. Now, i know youre not begging me to give you another number but i think you need to know this one. This is the Labor Force Participation rate. The percentage of everyone of working age in america who is either working or looking for work. This one has taken a beating since the recession. It was down to 63. 2 in august. Now thats the lowest as you can see that its been in the last several years. Its actually the lowest its been since 1978, 35 years. This number is never going to be 100 . College students for instance could be working but they arent. Stay at home mothers, the fabulously wealthy. The better it has been is 61. 3 . Its a little low for comfort. Why is that . Ill talk about that but first, im going to talk about someone who didnt give up. Why isnt the u. S. Job market recovering faster . Michael says the mindset of our country needs to change. Weve become a nation that champions mea mead i dont think ready rather than quality. Tell me what you think by tweeting me ali velshi or aj money. Rosa replied to a question of the day, she wrote, im a part of those numbers. I really have a real time job with real numbers. Rosa lost her job five years ago, she was working in the Mortgage Division of washington mutual, six years before the beginning of the financial crisis. Rosa had two teen aged children and because she had been offered a big paycheck at the beginning of the year she didnt finish college. She worked odd jobs like housekeeping and as a Home Health Care aide. Two months ago she took an administrative position through a temp agency. Her persistence paid off. After five years, you found work. Were talking about the discourages, about those people who just cant land that job. Were there days that you just wanted to throw in the towel, you just had no idea where your next job or paycheck was going to come from . Definitely. You get to the place where whats the point . Especially when the government makes you think, you dont want to work, when you do. Youre willing to do anything to work. Ive heard that a lot, if these things would do something they could get a job. We know there are over three million open positions and over 11 million look for those jobs. Did people tell you, you could change or do Something Else . They said you are not spending enough time looking for a job when i would be up until 2 00 or 3 00 in the morning to apply for anything. We did a story this week on home health aids, not particularly well paying, it is something you did to get by and youre still doing some of . Yes, i do i. T. On saturdays and sundays it on saturdays and sundays to this day. When markets werent doing as well you went into the mortgage side of the business, and that came crashing down. How did you readjust your expectations because the Mortgage Business wasnt coming back any time soon . I think i was like a lot of people. I didnt believe we would be out of work for so long. So instead of going back to school i kept applying for jobs hoping things would change and time just passed me by. And one of the criticisms out there is sometimes people are picky, they arent going to get the job they left. You arent earning anything what you were earning when you lost your job. No, im making half of what i was making before the market crashed. How did you deal with the thing about being picky, how did you find out, you could take a job that was going to you earn u much less . A month before my unemployment ran out. And you have kids . I have two girls. I wanted to eat didnt want to where live on the street. How close . Probably a month away. Youre earning half of what you did before. You seend enthusiastic when you tweeted seemed enthusiastic when you tweeted me, you posted it to linked in. I posted it as soon as possible, i didnt have to look for a job anymore. Whats going to get you pack to the earning potential you believe youve got . I would probably have to take a third job. Wow right now im doing both jobs because im scared to quit the weekend job, im thinking this is too good to be true and i wont be here long you know. Whats your message to all those discouraged workers out there all those 11 million who are trying and theyve been hitting the pavement like youve been for the last five years . Dont give up. Just keep trying. Even if you go to a temp agency, eventually somebody will say hey theres a job here or eventually something will happen. What is the attitude you bring in . This has to be frustrating interview after interview. Its frustrating but if you get discouraged they can kind of sense it. You go in there and think this is your job, this is what youre going to get and stay strong. Rosa congratulations. Thank you. Im so happy you got this job and we wish you all the best. Thank you very much. Too many people like rosa are forced to take temp positions searching for full time work. The economy needs to create 9 million jobs to get the Unemployment Rate back to where it was before the recession and then well talk about a company who does its part to offer sweet [[voiceover]] every day, events sweep across our country. And with them, a storm of views. How can you fully understand the impact unless youve heard angles you hadnt considered . Antonio mora brings you smart conversation that challenges the status quo with unexpected opinions and a fresh outlook. Including yours. Three years after the recession ended, the job market for millions of americans remains bleak. 11 Million People are unemployment and almost eight million who want full time work are working part time. As i told you at the top of the show, the Labor Force Participation rate is at its lowest level in the last 35 years. What explains this state of affairs, what will change it, what will it take . Sylvia is a labor economist from u. C. Berkeley. Thank you for joining us. Im so troubled that we are obsessed from the Unemployment Rate, it only tells a small slice of the story. I think the Labor Force Participation rate is a more important story. How its been in decline. Its not just a few year decline. Its been in decline for a very long time. Yes. The Labor Force Participation rates have been declining. Not only this recession. But even prior to this recession. So some of these top line statistics that get so much attention as you mention the Unemployment Rate are sometimes not capturing exactly whats going on in the labor market. Right. And i think thats fair to say. They are important to economists. They are important if you see the whole picture but you do need to see the whole picture. Im trying to get a habl on whyz handle on why the proportion of the workforce is not working. The number really never got above 67 in 1978. Its now around 63 . What is that what does that tell you . Well, i think in the short run, when were talking about what has happened since the great recession, so it was in the end of 2007, when the economy imploded, in 2008 and 2009 we lost almost 9 million jobs. And now were in actually four years into recovery. But even over this recovery, since we started adding jobs and weve been adding jobs at a consecutive pace monthly pace for about three years now. But that adds up to at the pace were going about 6. 2 million jobs but the point is we lost 9 million jobs. Over that long period of time ali as you know, lot of people have come into the labor force or should be coming into the labor force so we are still about 2 million jobs short of where we were at the end of december 2 2007 when we got into this mess. At any given month more people enter the labor force because people become of work age, immigrants, more people get into the labor force than retire or pass away. We have to grow a certain number of jobs each month just to keep going. Just to keep going. So for instance were averaging about 177,000 jobs a month. Well, that seems like a good number. Again its far too slow because we need about 110, 120,000 a month just to keep things from getting worse. And when you add in this labor market that lost so many jobs, such a deep downturn and now such a wrong period of time for those jobs to come back. Its so important to realize that we havent regained the jobs we lost during the recession. And over the last six years weve had many more people that should be coming into the labor market and thats how you get to the number youre talking about. And we dont just have to make up the jobs we lost, we should be getting to the number we should have been in the first place, 9 or 10 million jobs before we see the needle on unemployment move to somewhere below 5 . Which we historically have thought close to being those who want a job are employed. Lets discuss this a little bit more though. In an economy thats growing at a pace that our economy is growing its very hard to get to those numbers of 200,000 or 250,000 jobs created this last month. I was very disheartened in the last president ial election, where both sides said you would have enough jobs created, and you cant do that. We pivoted away from a jobs crisis. When we are mired in this crisis. Losing hundreds of thousands of jobs month after month. We pivoted back to better employment, if we hadnt lost all the government jobs we would have unemployment below 7. 5 but we piivetted away from a jobs crisis. So we remain what i think is in a jobs crisis. Was it as bad as 2009 and 2010, no. Because we are regaining jobs. This was a very long period of time and this economic cries i happening day after day month after no year after year is economic crisis you captain get back, it is wages that cant be reearned. And it is a hardship on many, Many American workers. It is a demand that isnt created, it is a demand and a struggle thats bik for us. Big for us. Thanks sylvia. Hub spot has about 600 employees. It hired 120 of them this year and is trying to fill another 50 positions. Its offering 10,000 to employees who help them land new software developers. Brian hal gan in cambridge, massachusetts. Congratulations that your business is doing so well that youre looking for people. Why in this economy that i talked to sylvia, and rosa before that, that youre having trouble that you have to pay your other employees 10,000 to get new hires . I think its sort of a tale of two americas. For Software Engineers high end jobs where theyre automating stuff, there is virtually zero unemployment. Very hard to find them. Automating cashier systems or car systems, things like that there are so many people in the workforce that are being automated out of jobs. It feels like a tale of two cities, tale of two economies where the high End Software Developers are very rear, 15, 20 unemployment in the jobs other workers stuff like that. So when you look at the number of Jobs Available there are always sort of 3 million Jobs Available in america, its been that way for a long time. And weve got more than 11 Million People looking for work. Theres clearly a mismatch here. There is clearly a mismatch in the economy. The economy is changing radically right in front of our eyes. I dont see the economy changing much. I think the economy is getting more efficient and the scarcity for those high end engineering jobs i think its going to get worse and i think for the low end jobs its going to get rougher and rougher. I dont see it changing. We feel the 120 jobs so far this year we have 50 other openings. Well fill them, its not that bad, it depends on the fings youre in but the software is very tough right now. At one point you were offering 30,000 for a referral. Thats right. We were offering 30. Now its 10,000. Ali, if you referred me to a software developer, your brother, sister, or anyone i will cut you a check for 10,000 my friend. How is that going youre looking for people does that mean people obvious know if they are qualified. Are you having to hire people away from other employers. Are you having to deal with their veetio visa issues . What do you have to do to get those other 50 people you need . Its interesting, theres competition from other High Growth Companies in boston. Its very easy to start a new company and if you are a young kid like Mark Zuckerberg or steve jobs, youre competing with other startups or the googles of the world, youre competing with them starting their own company. Its a completely different Playing Field for these folks. Than being a cashier or Something Like that. Being a Software Engineer is one of the most portable versatile and indemand jobs out there. Do you see that changing or would you tell a person who would train as a Software Engineer that they should do so . I dont see it changing. I think what happened in Software Engineering was there was a period in the American Economy where people thought that all the Software Engineering was going to move to india and china and no one went into it for like ten years. So there became this supply and demand imbalance and it turns out America NeedsSoftware Engineers. Everything is run with software so i think we are in for many decades of us of the economy needing Software Engineers. So if you got kids out there having them study Software Engineering. Thats going to definitely pay off. Or get to know a Software Engineer that needs a job and get 10,000 from you. Brian haligan is kerry of web spot. Professional money that athletes have for playing games, problem is, everyone stands up and asks you for money. Im stacy tisdale. Well have a story coming up. That story and more as real money continues. Keep it right here. Down sit hike. This is the first week of nfl football games. Players scoring touchdowns and big salaries. Lets say you were making hundreds of thousands or millions playing ball. What would you do if a good friend asked you for a loan, you would say yes, right . You might want to think twice. Stacy tis dale last the story. When rod barksdale was trying out for the olympics he dreamed of being a star in track and field. After making it as far as the quarter finals in track and field, fate dealt an unexpected hand. I pulled a hamstring and the end of my track and field was right here. But the beginning of something he had not imagined. At the suggestion of a friend, barksdale contacted the los angeles rams. He would go on to earn about 200,000 a year over his fiveyear career with the raiders and the dallas cowboys. A very impressive salary for an nfl player in the mid 1980s. Now i have what a friend of mine told me is options. Money is just a clear case of options. The more money, the more options you have. Not only was he surprised about his success but friends and family also noticed his windfall. They call you out of the blue, they congratulate you on getting to this point in your life. And then they have an issue. I would not hesitate to help them. I knew that i know, i never forgot what it was like to grow up and that want list be huge. In 1987 barksdale didnt hesitate when a long time friend asked him for a loan to help make a down payment on ahouse. I said give it back to you when you can. When you can meant six months or Something Like that. Barksdale couldnt have imagined it would take him five years to repay the loan. And he had other plans for that money. Ill take this money and create something with it. It will go way in front of me and ill catch up to it ten years from now. That was my thought process. Friends in need catch up to many nfl players. Financial experts say personal loans are one of the top reasons 80 are broke within two years of retirement. The reason why that number is so high is now you are the ceo of your own bank. Youre the loan officer, youre the collections department, youre all of that. And i think most guys will do very poorly in the collections department. Dr. Jenettes raymond says theres a dell cattle balancing act of knowing when to step back. I think there is a difference between helping and rescuing. And they dont give themselves a second to think about what they are doing in those moments. You should take a second to think about your financial situation. If youre struggling to make ends meet and dont have emergency savings, think again. Theres mrs. A high likelihood that you wont get the money back. Consider whether youre financing another persons bad financial habits. Another thing that is interesting is to say, i wonder what would happen if i didnt give the money but i suggested other ways in which he could get it or put him in touch with other people who might be good people for him to consult. And to make a plan. Barksdale last moved on and started a successful electrical surveillance company. But ask him what he would have done differently when making the loan . I would have actually sat down and said, what what is this what are we really doing here . What is this transaction . Okay forget about being friends, lets talk about the transaction itself. Bar