This Jobs Report Is 'Largely the Real Deal,' Says Morgan Stanley's Gapen
Bloomberg Television·2026-02-11 14:28
ON. JONATHAN: MICHAEL GAPEN OF MORGAN STANLEY. GOOD TO SEE YOU.COME TO THE PROGRAM. IF I WAS CALLING YOU AS A CLIENT MY FIRST QUESTION WOULD BE, HOW MUCH CONFIDENCE CAN I HAVE IN THIS. IS THIS THE REAL DEAL. MICHAEL: I THINK IT IS LARGELY THE REAL DEAL.EVERYTHING YOU MENTIONED WAS COMPLETELY FAIR. BENCHMARK REVISIONS, BIRTH-DEATH , THERE ARE SEASONAL FACTORS IN THIS REPORT. DOES IT WIPE AWAY 170 THOUSAND PRIVATE PAYROLLS.PROBABLY NOT. IF TRUTH IS 90, I'M HAPPY WITH THAT NUMBER. 170,000, I THINK IT IS HARD T ...