westchester

CPA and economic development consultant Marty Cantor discussed the job market with News 12’s Elizabeth Hashagen. 

New Jersey

NJ Weather Stories

Weather stories

NJ | Weather

NJFORECAST

That's good, boy. All right. So our forecast going into tomorrow is gonna be filled with clouds. We are going to be dealing with an opportunity maybe for a quick little Sprinkle or maybe a flurry. But again, I mean, nothing, nothing really to worry about at all. And even if it, if, if it does happen, I'm going to be extremely, the atmosphere is very stable, but we are starting to see things cool down so it will try to squeeze out any available moisture. And if the winds are gusty enough, maybe some lake enhanced flurries try to make the trip into New Jersey. There's a system that's dropping down to our south. That's what's going to probably aid in delivering some wet weather sprinkles to the southern half of New Jersey. By tomorrow afternoon, we are going to look for temperatures to continue to drop down into the thirties for tonight. All of that under mainly cloudy skies, some of the cooler air will be up towards the north into the west in the upper twenties. The breeze will make it feel just slightly cooler out there as far as wet weather or wintry weather is concerned just based on radar right now, there might be a flurry ongoing just to the south at 287 there in Somerset County. We're not anticipating anything in the way of accumulations. It's not going to be a big deal, but we are going to be looking for this instability to stick around for tonight tomorrow and even going into Thursday and Thursday, I think would be a better opportunity to see some maybe lake and hand streamers streaking across the area. As far as the cold air is concerned, this is going to continue to move through the area very quickly. We'll more than likely see a good shot of chilly weather returning to the area. Tomorrow afternoon, daytime highs are going to be for the most part in and around the lower forties. We have lower forties on Thursday as well and then the temperatures slowly begin to rebound. Once we get back up towards Friday, Friday is going to be the best day of the week. We are going to be looking for a decent amount of sunshine with daytime, high temperatures that are going to top out for the most part in and around the lower fifties. Saturday is looking pretty good Sunday, not all that great. Looks like we're going to be dealing with a wind driven rain event and as that rain starts to sweep across the area, looks like it happens later in the afternoon, we could be looking at a decent surge of rain and some winds could be gusting to 30 maybe even 40 miles an hour up against the coastline. I'll have more details on that forecast coming up in just a little bit. Dave. Thank you goodness, gracious. Great barrels of fire next in three things to know.

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Weather

Brooklyn

BK | Weather

BXFORECAST

Quite the operation they've got over there. Julio. Great. Look at what the post service service has to deal with. You know, what's the saying? Right? Neither rain nor sleet nor snow. That package are going to get it where it needs to go. We don't have any of that in the forecast, but for the mail carriers tomorrow and everybody else to bundle up, I guess. Yeah, the temperatures will be in the mid to upper 30 to start tomorrow and we are seeing some rain and maybe even some festive flakes in the near future. So that's something that we need prepare for as we get through the next couple of days. But 37 degrees mostly cloudy sky that puffer jacket will do you some good and some extra layers and you can grab the tins or the Uggs, some things, they just keep your feet warm because tomorrow's highs really struggle to get to the low forties. This is where we're going by tomorrow afternoon. 4 p.m. feeling like near 32 degrees across the boughs and it gets even colder, waking up on your morning. This is going to be the core of the cold we feel like temperatures will be in the mid twenties. So that's what you need to dress for Thursday morning. And even through the majority of the afternoon, we feel like temperatures will still be in the thirties. It looks like Friday. We have one more cold start to the day and then temperatures really begin to turn around. And we're seeing the fifties back by Friday and even into Saturday, which is going to be the pick of the week. Here's why temperatures will be in the mid fifties. It's gonna feel and look nice to be outside. And we're finally seeing a return of that sunshine that we haven't really been experiencing. So we're also turning the page to Sunday, which is our next day that we're tracking some wet weather. So here's what we know so far, still several days out, we're still fine tuning the timing of the system, but expect some widespread rain wind, some thunderstorms and this can start moving into our area Sunday evening into Monday.

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Westchester

WC | Weather

wchvwxbdPM125

We're gonna keep it just rain coming on down. Although you may see a flurry or two for portions of Wednesday afternoon, Thursday afternoon, but that's it, a flurry or two. We do have a pretty much substantial rain chance coming our way for Sunday. As once again, like this past weekend, we deal for split weekend, Saturday looking nicer than Sunday's time frame. And so Sunday may be along the stormy side, but Wednesday and Thursday coming on up feeling colder but staying mainly dry overnight. It's a light breeze with a continued chill in the air. Here's what we can be anticipating for Sunday. We have an area, blood pressure pushing upward in towards the northeast that allows more moisture to be pulled this way and some gusty winds will start to build on in for Sunday afternoon in through Sunday evening. Once this front passes us by, by early Monday morning, we're talking about pre dawn, we'll get some colder air to come rushing on in drier air as well. So we'll shut down that rain chance that you'll be dealing with potentially if you're out and about very early in the morning. But overnight tonight, it's mostly cloudy skies, temperatures cooling down towards the mid thirties, maybe feeling in the upper twenties and a few spots whenever you do get a light breeze to come on through. The reason why it's cloudy. Hope we got a system down towards our south and west that's heading on down towards the Mid Atlantic States. So we're not seeing any of this precipitation coming on through, but we are dealing with the cloud cover coming on in overhead. So later on tonight, 845 cloudy skies, there's that Florida too in the Catskills, same thing as you go out in towards tomorrow morning. Then by tomorrow afternoon, some sunny breaks are possible, West Point, you may see a flurry of two in towards three o'clock. And then by Wednesday evening, we're clearing out those skies temperatures though, hanging out in the low twenties and unfortunately getting a little bit colder than that. So moving on in past Wednesday into Thursday, we see our high temperatures struggling to get up into the upper thirties, Friday. Much better by comparison, upper forties. Saturday's the pick of the week. 54 degrees poly cloudy skies get out and enjoy before rainy, windy conditions arrive on Sunday.

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Long Island

LI | Weather

LIFORECAST

Hopefully you can enjoy it. Check out the sunrise this morning doesn't exactly look cold, but it was a cold start to the day. Still quite a few people out on the boardwalk, enjoying the nice weather and the fresh air that was by Andre Navarro. A fantastic photo. What you can expect overnight is temperatures near 30 degrees. It's cold but it's quiet. Tomorrow, we get up to about 41 some sun in the morning. A couple of clouds in the afternoon just with the cold air in place. A storm is passing to our south that might bring in a very brief Sprinkle or flurry. I think the best chance for that is around the east end. So most of you will end up staying dry and the cold will kind of settle in for the next two days. So 6 1535 Glen Cove, 36 in Medford. You see through the day, we kind of a hard time getting to 40 degrees. We'll do it briefly. Skies will clear at night. Thursday, we'll start off with some sun again. We are in the twenties to near 30 but not much of a wind. So it won't feel that bad. And in the afternoon trying to get up to 40 you do see that extra cloud cover around with the cold air. Now, by Friday skies are clearing, we get more of a southwest wind and temperatures begin to warm up. So Friday afternoon will be nice and seasonable. We hit about 50 Saturday sunny skies around the tri state temperatures in the low to mid fifties. So definitely that mild feel and then our weather will change late Sunday. So the good news is now that most of Sunday will be dry. The rain is trending later in the day. This is four o'clock rains on our doorstep. Most of this wet weather is not going to come through um until even after eight o'clock. So this is more of a Sunday evening, Sunday night thing and the rain will clear by Monday morning. So it's fast moving, but when the front passes by, it will be windy. So just kind of keep that in mind if you're going to be traveling. So cold weather will settle in for tomorrow and Thursday temp me 4050 sat uh Friday, Saturday looks amazing. There's that rain on Sunday with highs near 60 will clear out and get back to cooler weather for next week.

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Hudson Valley

HV | Weather

Bronx

BX | Weather

Connecticut

CT | Weather

CTFORECAST

And fun. Now, let's get a check of your forecast with meteorologist Michelle Powers, maybe some festive flakes as well. Exactly. Some people may refer to this weather as festive and fun as well. I know not so much. It's going to be a little tough getting up and out the door, especially if you don't like the cold. It's going to be cold tomorrow, even colder on Thursday, the afternoon. Temperatures too running below average, but there are milder days just a few days away and they come back over the weekend. But at the same time, we're going to be tracking some rain Sunday could end up being very soggy. There could be some thunderstorms and even some gusty winds. This looks like a really sharp cold front coming through. So that could be powerful and pack a lot of moisture. In the meantime, our atmosphere is lacking of that moisture and it feels very bitter again, temperatures on their way to freezing or below and then look at the next several days, still cold Thursday. But Friday is sort of that transition because beyond Friday, temperatures return to the fifties. So during that time, the system coming our way is going to bring rain. It's going to be way too warm for any type of snow or anything frozen Sunday into Monday. This could be a lot of rain coming at us and there could be some gusty winds as well. So right now the theme is cold and that is here to stay. So it may look a bit festive tomorrow even into Thursday with a couple of broken showers or flurries don't count on too much though. That storm offshore is a little too far away and it jets out of here, but it brings the cold. Eventually, the milder air will take over for the end of the week and out ahead of that front on Friday and Saturday, temperatures are really going to warm up. So there's rain on the way for that. In the meantime, though temperatures tomorrow, here we go, running below average. So even though it's the afternoon when you think this is where we hit, our high temperatures temps are stopping in the forties, 41 in Stanford, 41 in Milford and Cornwall, one of the colder spots only 36 degrees. So again, with the weather headlines that just want to emphasize again, the morning wind chills are going to be tough to get through, but stick around that 10 day forecast is coming up next and we'll talk about those warmer days ahead and what exactly will open our will come our way on Sunday, Tina back to you. Thanks.

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BeWELLMartyJobs_2023-05-16-09-20-59

Money with Marty: What industries are hiring

250,000 jobs were added in the month of April and there's a handful of industries included in that putting more people on their payroll. Now, I brought those numbers to CPA and economic development consultant, Marty Cantor who told me that might actually not be such great news when it comes to fighting inflation time. Now for your money with Marty and all signs were pointing to a cooling labor market. But instead, the latest jobs report showed the unemployment rate fell to 3.4% in April. After 253,000 jobs were added last month, the hiring isn't strong across the board and it concentrated in a handful of industries. So here to break down, the latest data for us is of course, Marty Cancer. So let's just start with that strong hiring and you know, where we're seeing the sectors that are really still popping. Well, there are, there are about three really important things to know here. Number one, the unemployment rate went down because about 43,000 people left the job market. Those are retirees who might be looking work who told the labor department, I'm not doing it anymore. So the unemployment went down because of that, the increase in the, in the jobs unexpected and not terribly good news if you're trying to fight inflation because that's supposed to be reduced. And we saw also about the postage jobs unfilled or 9.4 million that's down from 11.4 million about five months ago, which is a good sign, but it's still hot that it's still very hot but, but the nine million is normal for open jobs. So that's ok. Uh The jobs that are being lost now are the ones that, that really grew exponentially during uh the pandemic. Uh like technology jobs, uh uh service sector jobs, the zoom jobs, things like that and they're being brought back to earth because fewer people are relying on that. Technology. Manufacturing is being let go because manufacturing is down, productivity costs are going up. So you're seeing some layoffs there, businesses are reacting to the fed's policies but still our inflation rate is about 5%. The FED wants to get it down to two. It's a long way to go from here. All right, when we take a look at the actual numbers, we know the gains were in professional and business services, health care, leisure and hospitality, specialized construction contractors, and then food and drinking services in total. Those five sectors that I just mentioned, they were hiring of 165,000 people. Yeah. Well, construction is very interesting. Construction costs are higher because of inflation. Plus the borrowing costs are now 500 basis points more than they were a year ago. So it costs more to borrow money to do construction and tourism, you know, and the leisure and hospitality it, they just, they, they are hired and now they're just coming back to earth. Right? Also because we know people are actually starting to travel again and go to hotels and do all those kind of things. And you know, that area really saw so many cuts early days. Well, also in that sector, prices are coming down and that's why people are traveling and really last year was a pandemic, you know, pandemic, post pandemic travel. And people are saying I got to get out of here. Now it's different and the industry profit loss is reacting to the over hiring and the reducing costs. And that's why we're seeing layoffs there as well. All right, when we take a look at that conference board, they recently, you know, published some new information that index and it's that risk of job loss for different parts of the economy. What did, what did you pull from that? Well, the big, the big point from there is that the jobs that are going to be lost are the ones that are impacted by the financial recession that we're in right now. It costs more to borrow and that means people can't do expansions the minimum wage and the wages have gone up. So we have to, they have to come back to earth in terms of how many people they can afford to hire. All right, let's talk about women in the workforce. When we take a look at the participation rate that 25 to 50 four year old, it's actually 83.3% matching a level that we haven't seen since 2008. Yeah, the women are 77% increase. That's big because remember the, the reason why the, uh, uh, there were problems during the pandemic is that women weren't coming back to the workforce, they had their, their care giving responsibilities. So now coming back to the workforce will be that second income in a family to afford child care so they can work full time. So that's a good thing we're seeing that women are coming back and it's an important factor. All right, we love seeing it and we love having you here. Thank you so much, Marty. Good to be here. All right, Shannon, you know, obviously a lot to go through there, especially when you take a look at the different layoffs and so, so much hiring. But we're going to have to watch to see what the fed does next.

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