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162,000 jobs in the month of july. unemployment rate was lowered to 4 and a half year low to 7.4%. my first guest says those numbers just don't add up. the government figures don't really reveal the full truth about the job situation in america. joining me is the former head of the bureau of labor statistics, keith hall. keith, it's great to have you here today. [applause] >> good to be with you. >> well, friday, we got those new numbers. 7.6 to 7.4. what's not to love, keith? >> well, first of all, that unemployment rate is the most closely watched economic statistic there is. and, unfortunat...

Trying to ratchet up public pressure because he's not getting very far in trying to make deals with congress. >> now, mav, the unemployment rate inched down to 7.4% last month. they added 162,000 jobs, but that's still below expectations and in addition to that, minorities continue to have a difficult time finding jobs. the unemployment rate for african-americans is at 12.5% and for latinos, it's 9%. as lawmakers return home to their districts, what do you think they'll from their constituents about the economy? >> a lot of people out here in the country who just feel like things are not impro...

This? >> there is a lot in this report, certainly that came out yesterday. a little bit of good news. a little bit of concerning news. the good news is the unemployment rate did drop by .2%. so we're down to 7.4. showing that less people are looking for work. but those are are legally two separate surveys. it also could be that some people are actually dropping out of the workforce and giving up on looking for work. >> alisyn: it sure seems like it it because in terms of full-time employment, that is at a low and not an impressive number. in fact, more part time jobs have been added this past ...

The recovery hit a speed bump with the latest report. >> employers added 162,000 jobs last month. that's below expectations. the 81 employment rate ticked down. christine romans is here to break it down. >> victor and brianna, we've taken 32 pages of jobs reports and condensed it here. we see unemployment rate, 4 1/2-year low. 7.4%. jobs created, 162,000. not what we've seen for the average for the year but it is enough to help keep inching that jobless rate lower. and the recession, millions of jobs lost, trying to recover those. and this year, want to see more than 200,000 on a consistent ba...

Players with performance enhancing drugs. that could be 100 games suspension. that's about $15 million. but that would still leave a lot of money on the contract. to politics now. president obama stepping up his fight for the middle class. that new report shows 162,000 jobs were added in july and the unemployment rate kicked down to 7.4%. >> any middle class family will tell you we're not where we need to be. we were living through a decade where a few at the top were doing better and better where most families are working harder and harder to get by. reversing this trend must be washington'...