In this BNN Bloomberg interview, Dr. Charles Lieberman, Co-Founder and Chief Investment Officer of Advisors Capital Management, shares his perspective on the latest U.S. jobs report and how markets are interpreting the data.
Recorded 12/16/25
Dr. Lieberman describes the report as “messy,” noting that while government hiring declined—an expected outcome following the recent shutdown—the private sector continues to show resilience. Investors had hoped a weaker report might strengthen the case for further interest rate cuts, but the mixed data instead prompted a cautious market reaction.
The conversation also explores broader labor market dynamics, including the risk of a “jobless expansion,” where economic growth continues but job creation remains limited. While the labor market is currently holding steady, the outlook remains fragile should layoffs begin to accelerate.
This discussion offers timely insight into how labor data, hiring trends, and economic uncertainty may shape markets moving forward. Topics Include:
- Key takeaways from the latest jobs report
- Government vs. private sector hiring trends
- Market expectations for interest rates
- Risks of a jobless expansion
- Why the labor market outlook remains fragile
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