a sudden turn around from months of grim unemployment news, the jobless rate in november dropped to its lowest level in almost three years. 8.6%. u.s. businesses added 140,000 jobs. government jobs were lost. it's a net gain bigger than a lot of experts were predicting and welcome news for a president trying to get re-elected. >> is doing everything i can every single day to get this economy growing faster and create more jobs. this morning, we learned that our economy added another 140,000 private sector jobs in november. the unemployment rate went down. and despite some strong head winds this year, the american economy has now created in the private sector, jobs for the past 21 months in a row. that's nearly 3 million new jobs in all. and more than half a million over the last four months. >> celebrations may be a premature. what do we see? >> first, the positive news. the unemployment, down from 9% to 8.6%. that's very good news. the numbers by the payrolls. these are the number of jobs created. 120,000 jobs in november. you can see that going back to august, these numbers have actually been revised. august, a they originally reported 57,000 numbers. $57,000 jobs rather. it's 104,000. 80,000 jobs were originally reported in october. now, we find that number was 100,000 and that is on top of the 120,000 jobs in november. this is where we have to qualify just a little bit. 120,000 jobs, that might sound like a big number, however, here's the context here. if you want to really lower unemployment, so bring us back down to the prerecession levels, you need to be much, much higher in terms of those monthly job growths. somewhere in the neighborhood of 300 to 400,000 jobs. something else i want to point out. if you look at unemployment by race with the various ethnic groups, all except for one exception have a decline in the unemployment rate. the one exception, african-americans. in fact, the unemployment for african-americans, it went up from 15.1% in october to 15.5%. a little bit of a fall for president barack obama and with his base. one last thing i will tell you in all of this, is that 8.6% will say this is a big improvement from the 9% from the previous month, but if you look closely at the number, one reason for that decline is that many speak simply gave up and left the workforce, wolf. >> supposedly about 300,000. hispanics, the numbers remain the same. 11.4%. >> that's right. african-americans, it went up. for asian americans, it declined from 7.3% to 6.5% and here, you see a decline from 8% to 7.6% for white workers. >> thank you. unemployment always deep in politics. never more than during a presidential campaign. let's go that part of the story with our chief political correspondent, candy crowley, the host of "state of the union." so, is this drop from 9%, 8.6%, really welcome news for a president seeking re-election? >> yes, absolutely. we just saw all the ins and outs and there's still huge trouble spots and there's a way you can look at this and say it's unchanged, but there is a psychological difference here. in the political realm from a 9% unemployment rate to 8.6. they can now claim it's in the 8.6 range. which just sounds so much better. you listen to those still unemployed, who may have just dropped out of the workforce, a purely symbolic point of view, this certainly helps. i think the obama campaign, which remember, has always said we don't think the economy's going to be that great next november, but what we have to prove is that it's getting better and this is one of those figures you can say it's getting better. >> be treacherous to start overly raising expectations. especially with what's going on in europe. how does that play with the republicans? >> i think they have sort of the mirror aimage. the president can't overplay, 8.6, because that's still pretty lousy, but he has to say hey, we're showing improvement. the republicans pick up going listen here, there's still a long way to go, but they can't look at though they're dancing on it in a sense of he's still a failure. so you have to welcome in some way that there might be some jobs out there for the taking as well as your point of the republican ss that the jobless rate is still too high. what do you got coming up sunday morning? >> john mccain and ron paul. we're going to talk does this really boil down to mitt v. newt? >> we'll be watching. thank you, candy. the new numbers don't take any account the growing numbers of americans finding jobs overseas, especially in asia. mary snow is working that part of the story. what are you finding out? >> you know, unlike jobless numbers, this isn't something that -- we don't have exacts, but recruiting firms saw more applying for jobs in asia and one young woman says right now, it's her best option. >> this is what i first saw. >> unlike most job seekers, it took only weeks for 27-year-old tina to find a teaching job. the catch? the job is in shanghai. it's a move she's eager to make since she juggles a teaching job and waiting tables. >> i'll be making about $2,000 a month, but the cost of living is about $300 a month. they provide me with health insurance, which is huge. >> so she started teaching two years ago. something she always wanted to do. she had been working as an investment manager, but when the economy soured and her workload grew without pay, she switched careers. now, she finds herself in a profe profession scaled down by budget cuts. >> years ago when i first started thinking about teaching abroad, it was equal to the united states. i can do the same thing in china. now, it's a better opportunity to go abroad. >> and she's not alone. the economy that hired tina, english first, reports a 30% increase in applications. a similar recruiter, reach to teach, says it's seeing more applicants in china, taiwan and south korea. it's difficult to say just how many americans are seeking work overseas since there are no hard numbers. some recruiting firms report seeing an increase in executives and managers looking east, particularly towards china. >> what's going on is really incredible if you think about it. wouldn't anybody want to work in a country where gdp of 9% is considered slow? >> robert damon says there's been demand for infrastructure work in china. not all job seekers are out of work, but some are seeking adventure. adventure is part of what tina is looking for. but she says concerns over the economy are dominating many people her age. >> we believe in our government that everything is going to pan out soon. we're just in a rough time. but at this point, it's like you got to do what's best for you to survive. that's kind of what i'm doing. >> and one of the executive recruiters also pointed out that because english is the spoken language of business in asia, it's easier for workers and executives to make the transition than in countries like france and germany. >> interesting story. thanks for that. by the way, the dow jones ended sort of mixed. right now, take a look at these numbers. almost even. just above 12,000, but we've been told this has been a best week since 2009. the dow was up this week, 7.1%. the s&p jumped. 7.7%. a good week on wall street. he says, she says. herman cain and the woman claims a long-term affair with the republican presidential candidate. we're going to hear the very different takes on the nature of their relationship. and we're live outside herman cain's home in atlanta. scene of the first meeting with his wife since the affair allegations surfaced last month. so who ordered the cereal that can help lower cholesterol and who ordered the yummy cereal? 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[ tires squeal ] an accident doesn't have to slow you down. with better car replacement, available only from liberty mutual insurance, if your car's totaled, we give you the money to buy a car that's one model-year newer with 15,000 fewer miles on it. there's no other auto insurance product like it. better car replacement, available only from liberty mutual. it's a better policy that gets you a better car. call... or visit one of our local offices today, and we'll provide the coverage you need at the right price. liberty mutual auto insurance -- responsibility. what's your policy? a pivotal weekend for the campaign of herman cain. he'll be meeting tonight with his wife for the first time since allegations of an affair exploded on monday. he's hinted at making the news tomorrow as we weighs the future of his embattled campaign. >> tomorrow in atlanta, i will be making an announcement, but nobody's going to get me to make that prematurely. that's all there is to that. so, tomorrow, we're going to be opening our headquarters in northwest georgia, where we will also clarify, there's that word again, clarify, exactly what the next steps are. >> really been a tumultuous week for cain and it started when he made a bombshell announcement here on monday. we're just learning from herman cain himself that a third woman is about to come out and make some serious accusations against him. we know the first two women accusing you of sexual harassment. what can you tell us about this third woman about to go public and accuse you of what? >> this particular individual, which will be named in the story as we understand it. my attorney has talked with a reporter who's going to come out with this story. this individual's going to accuse me of an affair for an extended period of time. >> it was pretty simple. it wasn't complicated and i was aware that he was married and i was also aware that i was involved in a very inappropriate situation, relationship. >> did you have a 13-year affair with this woman is this. >> no. i did not. >> there was no sex. >> no. >> none. >> no. >> and if this woman says there is, she's lying? >> well, wolf, let's see what the story's going to be b. i don't want to get into being pinned down of some things this will we see what the story's going to be. >> are you sticking by your original story that it was a sexual relationship? >> yes, i am. >> have you spoken with your wi wife? how did they react? >> my wife's reaction was similar to mine. here we go ben. >> i've received gifts and money for the last two and a half years consistently. went on several trips with herman. one was the mike tyson holyfield fight in las vegas. i can't make this stuff up. >> she's says that you flew around the country, meeting in hotels. can we get plane tickets, confirmation! do her a favor. don't play detective. >> i know that travel was involved. i know that sex was involved. >> how soon until we have a final answer on your future plans? >> we'll be making a decision in the next several days. >> we've never worked together and i can't imagine anyone phoning or teking me for the last two and a half years just because. >> if all these were released some 60 we know of or whatever, is there any flirting, any inappropriate talk? is there anything that your wife would be mad at? >> absolutely not. >> are you out? >> yes, but my wife would ask me to get out. i would make the decision based on how all of this stuff is affecting her because i will put her first. she's not the type to say, you ought to get out. we just learned that herman cain is now, has now arrived at his home in atlanta for this first direct face to face meeting with his wife, gloria cain, since the affair allegations came out. our reporter is outside cain's home in suburban atlanta, just pulling in over there. set the scene for us, shannon. what do you know, because he says himself there will be an announcement tomorrow. >> yeah, what we know, setting the scene for right here, just moments ago, the video you just played was cain pulling into his subdivision here in the atlanta suburban area. it's called eagles landing. there were secret service in tow. a few police cars. they went straight into the gate. i tried to wave. me and my camera man weren't expegting him at this time. tried to wave. spoken with him several times before, but there's no indication he saw me or us or any of that. they pulled directly into the gate. from what we understand, the house is not that far from this gate, but it will likely be a long drive because as you mentioned, wolf, this will be the first time that herman cain will speak face to face with his wife and these allegations, about this affair. what we know for a fact is that according to cain, that his wife did not know about this alleged 13-year affair with this woman and that she didn't know about money he says he gave to her, but we know that gloria cain has stood by cain in the past with the sexual harassment allegations and he said to you in that interview that you just played that when she first learned about miss white that she went, here we go again. so that's the scene right now. it will likely be a private meeting. it's anyone's guess how painful this will be for this couple as they talk about for the first time these allegations. >> certainly they deserve as much privacy and as much time as they want to review these details. i am confused like so many political reporters are, i don't know about you, on the one hand, he says he's going to have an announcement tomorrow. some associates assume he's going to drop out. at the same time, he's going to announce the cain for president headquarters in the state of georgia and his campaign is sending out e-mails, a new committee, women for cain was set up today. if you try to read all these tea leaves, you get totally confused. what he might announce tomorrow? >> yeah, if you read all these tea leaves, you're basically going in different directions. he's going to open the headquarters here in georgia, but on the other hand, he's inviting supporters and donors, our producer is reporting that, to this event tomorrow. what kind of announcement will he make? he's going to make an announcement about the status or conclusion of his reassessment of his campaign. i would think that anyone's guess would be a lot of what happens tomorrow will depend on what happens tonight with his wife. this conversation he had with her. what will she say now given these allegations of an affair since she did not know that he knew this woman and did not know of any money that he himself says he gave to her, so trying to read the tea leaves, i can tell you that everyone will be there standing by. >> they've been married for 43 years. we'll see what happens tomorrow. thanks very much. on the scene for us as he always is. up negs, my one-on-one interview with ron paul. i'll ask him what his problem is with the current front-runner. the current front-runner being newt gingrich. stay with us. you're in "the situation room." we're waiting for ron paul. he's about to come into the situation room. we're going to be speaking with him live this hour. lots of questions to discuss. all of a sudden, who would have thought only a few weeks ago that newt gingrich is now at the top of the race? let's discuss what's going on in the race for the white house in our sfrat ji session. joining us right now, the democratic strategist, hillary rosen and former newt gingrich press secretary, rich galen. guys, thanks very much for coming in. rich, probably no one is surprised -- are you as surprised as all of us? last summer e he was no where are and now he's the front-runn front-runner. >> it was may 22nd when i xed him off the ballot. this is the point, where newt is at his best, when there's not many people to manage. when he can live off the land, make minor change and just kind of fol who the wave and get -- now, r if he's got to build an organization, an infrastructure, actually you know, have people that report to other people, he's not that good. >> for months and months and you know this, hillary, better than i do. a lot of inside democrats were thinks romney is going to be the nominee. they were gearing up for a romney-obama race. >> we're praying for newt gingrich. praying for newt gingrich. >> in 1982, we said the same about bill clinton. >> that was a mistake. >> what we know now. >> be careful what you wish for, hilly. >> fair point, but the amazing thing is 33 days out that this race is as wide open as it is. ron paul winning iowa could iowa could turn this into -- jon huntsman winning new hampshire. >> are either of those likely? >> oh, yeah. he's got -- >> and you know, if huntsman catches fire in new hampshire, i think that we never would have predicted where we are and you know, so i'm not going to make any more predictions. newt gingrich, it's not just about what he does now. he has a history that will make democrats salivate, will repel independents and will make republicans chill. so, you know, i think that we are p -- when i say we pray for newt gingrich, i'm serious. >> let's go back four years 'ago. this is the time when mike huckabee ended up winning in iowa. on your side, barack obama had only about 37% of the vote and the only reason he won is because mrs. clinton and edwards pretty much split the non obama vote. >> hillary clinton was 20 points ahead in the national polls. >> i want to move on, but now that he's at the front of the pack, newt gingrich is getting a lot of attention from his rivals and they're not pulling any punches. take a look at this ad from congressman ron paul. an ad entitled serial hypocrisy. >> we don't always see eye to eye, do we, newt? >> no, but we do agree our country must take action to address climate change. >> newt gingrich has been on both sides of the long list of issues. sometimes in the same week. >> i don't think right wing social engineers is anymore desirable than left wing. >> because paul ryan off at the knee. it supports an obama administration. there is no explanation for it. >> ron paul is joining us from new hampshire. that's a pretty important state. thanks as usual for coming in. >> yes, wolf. >> let's talk about newt beginni gingrich. a fuf ad. what is your basic problem with the former speaker of the house? >> well, i think that my goal was to get information out and it wasn't so much that i was verbalizing or giving opinions as much we were reporting on what was said in the past on where he stands now and it contrasts him from where i stand because i usually get compliments because i haven't been charged with having changed by position and i've been around for a couple of years and have been saying things, but most people realize that i keep saying the same thing over again and it becomes more possible. where in his case, he tries to catch up and change his position to fit the particular time in which he's speaking. so, i think it was to make that point, but it was also to show that other people were saying that. and to dramatize it, to show that he does change his position and not, that's one of the issues of the campaign. people change in campaigns and not being able to rely on politicians. that's what this whole mess is about in government today. why there's a tea party movement and why there's a sit-in movement. and the people are just very frustrated with this and we were pointing this out that he has not been consistent on his position over the years. >> what's the most important inconsistency that comes to your mind and causes you concern? >> the one that bothers me the most is probably getting a million and a half dollars from fannie mae and freddie mac. when i think about that, about an institution that i had been challenging for more than ten years, i wanted to stop the financial bubble and housing bubble from forming. he really indirectly gets the money if the taxpayer because fannie mae and freddie mac had to be bailed out and we had to pay those debts that were run up and here he was getting a lot of money from them