The latest in finance, economics and investment. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene &amp; Paul SweeneyThursday, July 2, 2026 Featuring: 1) Claudia Sahm, Chief Economist at New Century Advisors, Katy Kaminski, Chief Research Strategist at AlphaSimplex, and Kristina Campmany, Senior Portfolio Manager: Global Debt at Invesco, react to the June jobs report. 2) Margie Patel, Senior Portfolio Manager at Allspring Global Investments, discusses why she expects more upside surprise in the stock market. 3) Lia Taniguchi, Head of Labor Research at Bullhorn, talks the firm&#x27;s findings on the recent hiring slowdown and the labor market&#x27;s biggest outlier. See omnystudio.com/listener for privacy information.

June Jobs Day

Bloomberg Surveillance

# Full Transcript

**Podcast:** Bloomberg Surveillance

## Transcript

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[SPEAKER_C] Bloomberg Audio Studios, podcasts, radio, News. This is the Bloomberg Surveillance podcast. Catch us live weekdays at 7:00 a.m. Eastern on Apple CarPlay or Android Auto with the Bloomberg Business app. Listen on demand wherever you get your podcasts or watch us live on YouTube.

[SPEAKER_D] Joining us now, in charge of cats and dogs here at Bloomberg Surveillance, New Century Advisors' Claudia Sahm. Claudia, I got to give you a victory lap here. 18 months ago, people were calling and citing your profound research on recession, and you said no. What did the gloom crew get wrong?

[SPEAKER_E] The gloom crew got wrong what was happening in the labor force, the supply of workers. Back when I said that those increase in unemployment rate, be careful with that. We've got a lot of immigration, got a lot of workers flowing, and some of that increase is good. Not bad, like with a recession coming. I worry some of the, you know, really exuberant crew right now may be getting it wrong in the other direction because the labor force has not been growing as quickly. So the signals, like with payroll gains, I think they'...

June Jobs Day

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

June Jobs Day

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.