Transcripts For CNNW CNN Newsroom 20140307 : vimarsana.com

CNNW CNN Newsroom March 7, 2014

To 6. 7 but the Labor Department telling us little has changed. The trend is whats important. Hiring has been slowly picking up this year but it needs to be stronger. You need to be seeing 200,000, 200,000 plus every month. What economists are telling me this morning is if you hadnt had that bad weather you might have been there. This might have been a month that saw hiring doing what we wanted to see, doing 200, 250 or higher. The real key is next month and the month after whether this momentum continue. We knew the weather would be very difficult to see what the underlying trend was in the labor market. Professional services, lawyers and accountants those tend to be higher paying jobs. 79,000 jobs created there. You saw even hiring in manufacturing. You saw hiring in construction. Some of the areas we feared would be held back by the weather. You saw some good hiring there. Pull back in hiring and retail no surprise. You werent going the enamel when you were shoveling out your driveway. Thats where we saw a pull back. Steven moore the Labor Department gives us the 6. 7 unemployment figure. Economists say, of course, thats not the real unemployment number, because it doesnt include the underemployed and those who have given up searching. That could be as high as 15 xx . How do we get that number down . Great question. First of all i agree with christines analysis. I think shes exactly right. We dont exactly know how many jobs, more jobs would have been created if we didnt have these blizzards in the last four weeks. But i look at a couple of the statistics that christine didnt mention. The one that economists, jake, are most concerned about across the board is the decline in what we call the Labor Force Participation rate. Those are the number of americans between the ages ever 18 and 64 that could be working and what were finding that number is still really low, jake, and i find that to be troubling. And, you know, its interesting, christine talked about the momentum and some job growth and shes right. But remember thats a terrible number we got last month where we had less than 100,000 jobs created. Christine is right, we need to get to the 250,000 or so job level to really start making progress and bringing the real Unemployment Rate which in my opinion is closer 120 down. Alison kosik, 175,000 jobs created in february. Will this good news on paper result in good news on wall street today . Do you think . It looks like it will. Its a surprise to the upside. Stock futures jumped the dow can open 87 points higher. We have a half hour to go before the opening bell. It looks like an open with green arrows. One thing to keep in mind, one report does not make a trend but the way wall street is looking at this is this number beat expectations. Also you look at january, and decembers numbers. Those were revised higher. So the Way Investors are looking at it, what everybody thought the weather was sort of keeping from happening, meaning job growth it wasnt as bad as first thought even though youre not seeing these job numbers where they want to be. The weather didnt have as bad an impact as first thought. Theres thinking theres underlying strength not just for this report we got for february but also possibly for next months report and the thinking is that there could be a spring thaw in the works. Jake . Christine, i dont mean to focus on the negative but christine romans, i do want to ask you about this underemployment rate level because its something that bewitches the Obama Administration. 6. 7 , number of people out of work or people working part time. They have been side lined. That number still too high. Actually thats what gives the white house ammunition to say hey renew unemployment insurance, we have to raise the minimum wage. We have to do these other things to help people feel better about the job market in the naerm. The job picture is improving but not enough that the white house will abandon some of their major, you know their marriage priorities for the year in terms of job including the Unemployment Benefits extension and raising the minimum wage. Can i mention a couple of statistics. I dont want to accentuate the negative too much either. A couple of statistics to be worried about, christine. One is if you look at the long term unemployed. Still too high. Those are people unemployed for more than 26 weeks. Second of all, if you look at what happened with hours worked that actually declined. Thats troubling. As the economy picks up and as people as employers start hiring more workers you expect the number of hours worked nobody creation. They decreased. One other final statistic, there are 2 million fewer people in the labor force today, jake, than there were a year ago. Thats very unusual in a period of what is supposed to be a recovery and an expansion. Christine romans, steven moore, alison kosik thank so you much. Now the crisis in the ukraine and events unfolding there. After dawn this morning russia sank a second of its old navy vefls to completely seal off a Ukrainian Naval base. The blockade means several Ukrainian Navy ships are trapped and essentially out of service. For the second straight Day International observers have been blocked as they try to enter crimea but new lawmakers there say monitors from russia and other countries will be welcomed to observe this months referendum on whether the region will split from ukraine and join russia. President obama said that referendum is illegal under International Law and urged the diplomatic resolution during an hour long phone call with russian president Vladimir Putin. He urged talks between russia and ukraine. The call came hours after the u. S. Slapped new sanctions on individuals responsible for russias military actions. Even as the ink dried on the first set of sanctions washington ratcheted up the debate. Heres one proposal. It calls for the u. S. And its allies to boycott the upcoming g8 summit in sochi, russia and consider expelling russia from the g8. It calls for more sanctions on banks, state agencies. Our next guest is a cosponsor of that legislation, congressman good to see you. How much support do you expect for these sanctions specifically and more sanctions in general . It was interesting in the debate before the committee we ended up with the unanimous vote one support of this. But also we passed out an additional provision and that provision calls for the United States to start the process of leveraging russia by exporting gas into western europe and into the ukraine. I think whats been missing all of this is the very real leverage on russia. And, in fact, 70 of their revenue from trade is from petroleum. And 52 of the budget for the russian government itself comes about as a result of their revenue given the monopoly pricing they have over western europe. We have a situation here in the United States where we have gas, we have a glut, we can expand that into the market and really give the russians something to think about and making europe much more independent in their decisions here. So i think introducing this leverage is important. Congressman, yesterday started with president obama, the white house announcing some of these sanctions on individuals in russia, people responsible for the incursion into crimea. That did not seem to result in russia seeming in ti my dated at all. They launch ad very large military exercise about 280 miles away from the border with ukraine and, of course, now there are officials in russia, allies of putin voyages support for the first time for this referendum in crimea on whether or not crimea should join the russian federation. Do you think anything the u. S. Has done right now so far has caused putin to do anything other than become more determined to take crimea . I think the russians have perceived that were willing to talk and the europeans are willing to talk, but that there hasnt been really action that would, would give them second thoughts about further escalation. My concern now is escalation of the eastern part of the ukraine. So, in order to get their attention, this is why im saying the white house, frankly, needs to come around to a strategy of supplying europe, selling to europe gas and replacing the monopoly that putin has. And the leverage that putin has with europe. If we do that we can do many more things in tandem with europe because the capitals in europe, the Decision Makers across the european continent are very, very concerned about the pressure, the way in which putin can bring down on them considerable leverage. We need to inverse that, reverse that by doing something thats going to help our balance of payments. Frankly something thats going create jobs in the United States but most importantly finally give putin something serious to worry about, which would to be implode his economy if this really became a Long Term Strategy of, you know, with our ability to produce energy to supply europe with that energy. In addition to the energy issue though, congressman, isnt one of the issues the fact that the u. S. Only does 40 billion of trade where the European Union does 460 billion and if you remove the energy issue from the equation the brits, germans, others in the eu rely too much on russia, their economies are so intertwined they are afraid any sanctions imposed against russia would respond would result in retaliation. Its a two sided sword here. Its two edged in the sense that as much as it would help in the leverage, you know, here for the russians, remember what it would mean if you had leadership on the part of chancellor merkel and from the uk that went with the United States and seriously threatened what ive just suggested. If that were to happen you would look at the collapse of the ruble, you would look at the collapse of the stock market in russia. So it is clear that it would affect russia far more than it would affect germany or britain. I think for that reason whats rewired here is leadership and at the same time consultation in which the germans and french sit down with the russians and explain, look, how can we guide you towards an exit ramp here so that we do not end up with taking the steps that frankly would collapse moscows economy, how do we end the escalation of this because the russians continue escalate it and until we do something subsididecisive energy policy, until we have a policy that the russians would worry about long term we dont have that hammer. But thats why i feel good about the action that the Foreign Affairs committee took here because with the unanimous vote we bring this to the floor, on tuesday it will go off the floor and frankly it gives merkel something to talk to putin about in the next conversation in terms of what will happen next. And its something that our allies in germany and the rest of europe really want to see is access to our gas. So, here is the way we convince europe to stand with us on this. And here is how we can convince putin, i think to stand down. Congressman ed royce thank you so much for your views. Thank you. The u. S. Military is on the move. Take a look at these pictures. Right now a u. S. War ship, a guided missile destroyer uss truxtun is entering the black sea. Now this is a previously planned military exercise planned with romania and bulgaria but it comes as tension in the neighboring ukraine dont summer and ivan watson is on a boat in the Bosphorus Strait part of the waterway that divides europe and asia. Ivan is this adding to tensions in the area . Reporter well, theres clearly a message thats being sent here. Well pan the cam radio right over right now so you can see this u. S. Argueded missile destroyer from norfolk, virginia. The truxtun with a crew of approximately 300 on board. Steaming right now, jake, up the Bosphorus Strait. It is that geographic natural choke point and the only way any sea vessel can get into the black sea. Now the u. S. Navy said this was a previously scheduled journey to conduct joint naval operations, as you mentioned, with bulgaria and romania. But the situation in the black sea and in the Crimean Peninsula is anything but normal. Crimea is home to the ukrainian and russian navy. Last tuesday we spoke from this very same point in this Bosphorus Strait about russian war ships, two of them that had sailed up to the black sea and also Ukrainian Naval vefssels. A lot of the crisis stems from naval power russias claim to the crimea peninsula for more than a century as a vital and strategic warm water port for a country with much of its coastline is frozen in by ice, especially during the winter months. Part of why it is so valuable to russia to that have Crimean Peninsula a place where its navy can move in and out of. On top of that this, is a u. S. Navy stroir truck opportune that sails normally out of norfolk, virginia. On top of that the Russian Military at this point is blockading a number of Ukrainian Naval vessels in the crimea at their home port. Theres actually scuttle that at least two ships to keep Ukrainian Navy ships to move out from there. So the naval component is a very important part of the crisis, the geopolitical tugofwar were seeing around crimea, around ukraine and thats why amid the diplomacy were going on, the moments of naval war ships like this are also important. They send messages right now as u. S. Secretary of defense chuck hagel has done earlier this week announcing that the u. S. Would step up joint air patrols over the baltic peninsula, thats a clear sign of support to estonia, lithuania and others about the military moves into the ukraine and crimea peninsula. Senior International Correspondent ivan watson with some excellent on the water reporting. Thank you so much. Well be right back after this quick break. Iwe dont back down. We only know one direction up so were up early. Up late. Thinking up gamechanging ideas, like this dozens of tax free zones across new york state. Move here. Expand here. Or start a new business here. And pay no taxes for 10 years. With new jobs, new opportunities and a new tax free plan. Theres only one way for your business to go. Up. Find out if your business can qualify at startupny. Com abreva can heal a cold sore in as few as 2 1 2 days when used at the first sign. Without it, the virus spreads from cell to cell. Unlike other treatments, abreva penetrates deep to block the virus, to protect healthy cells so cold sores heal fast. As fast as 2 1 2 days when used at the first sign. Learn more at abreva. Com. Dont tough it out. Knock it out fast. [ female announcer ] only with abreva. Knock it out fast. Why are house repuretreating, ng, and privately saying theyd rather do nothing on Immigration Reform this year . Doing nothing puts jobs on ice. Forces us to lose out on revenue for roads and schools. And sends a message to millions of dreamers, who study hard and want to serve our country, they might as well dream on. No, nothing wont do. Call House Republicans today. Tell them weve waited long enough pass Immigration Reform. S seriously, thats a signature look. You dont have a signature look, honey. Thats a signature look. [ male announcer ] only at t brings you beats music. Unlimited downloads for up to 5 accounts and 10 devices all for 14. 99 a month. Checking some of the top stories at this hour. The first week of Oscar Pistorius murder trial is now over but not before the olympic sprinters exgirlfriend testified he slept with a pistol by his bed and once got so angry at a traffic stop that he shot a gun through a car sun roof. She said the relationship ended when pistorius cheated on her with Reeva Steenkamp, the girlfriend hes accused of killing. Pistorius has admitted shooting Reeva Steenkamp to death but said he mistook her for an intruder. The trial will resume on monday. A california state lawmaker is proposing a law that prevents seaworld from using orcas in their show. In would prohibit the import and export of killer whales. This morning the army is investigating shocking new allegations of Sexual Misconduct against the man who served as a top prosecutor of sexual assaults. The army has not identified him but an Obama Administration official tells cnn his name is Lieutenant Colonel Joseph Morris. News comes as senate blocked a bill that would have overhauled how the military prosecutes sex crimes. Cnn justice correspondent pamela brown is in washington. Reporter there were an estimated 26,000 sex assault and unwanted sexual contact incidents in the military in 2012. This week three highprofile military leaders making headlines for alleged Sexual Misconduct including Lieutenant Colonel Joseph Morris lead prosecutor in the case against Staff Sergeant robert bales who pleaded guilty of killing 16 afghan civilians. He was a top Army Prosecutor tasked with protecting victims of sex crimes, training and managing a team of 23 special victims prosecutors in fort belvoir, virginia. Now Lieutenant Colonel Joseph Morris is embroiled in a sex scandal of his own. According to an Administration Official hes been placed under criminal investigation for misconduct. Fem

© 2025 Vimarsana