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The unemployment rate dropping to 7.4% for the month of july. now, that is a .2 percentage drop from last month, and it's the lowest rate since december 2008. the labor department says 162,000 jobs were added to the economy, but 240,000 americans stopped looking for work, and that led in large part to the drop in the unemployment rate. it is the smallest increase since march, talking about the increase in the number of jobs. this all comes a day after the dow and s&p 500 closed at record levels. we will see how the markets react to this news today. jamie: and casey anthony is back in the headl...

Just 162,000 jobs added. the unemployment rate now at 7. 7.4%. the markets are not too happy with those numbers. the dow dropped as much as 68 points at the open. so let's get down to the nitty-gritty. i'm joined by cnn business anchor, christine romans in new york. what jumped out to you in this report? >> i think the way you described it, a speed bump is the perfect way to look at it. 162,000 jobs created, nothing to write home in the month. it is enough, when you look how much we created in the past year to slowly bring down the unemployment rate. to me, what i like to look at is the trend....

>> the senate will be in order. >> it is just not polite. jaime: well, of course senators took their seat and listened did what they had to do. this is why we don't let the crew speak during the show. they've to watch. rick: i like how harry reid saying it is not polite. meantime he is telling people to sit down and shut up n my house with kids that is not polite. jaime: four children telling each other. rick: five children. jaime: oh my. we'll be right back. did you see yesterday when she took a piece of paper and faced her captor? michelle knight and two other women managed to escape the hom...

Friday, august 2nd. i'm chris cuomo. >> good morning, everybody. i'm kate bolduan. is huma abedin blaming herself for her husband's sexting scandal. that's what "people" magazine said they have family members talking to them about that. coming up. the story of a pittsburgh man accused of using cyanide to kill his wife, a well-respected doctor. he is denying he had anything to do with it and this morning we'll talk to his lawyer and get their side of the case. we also want to give you a little bit of news here. the story about, coming out with the jobs reports we'll want to talk about, also...

Hours. we shall return. have a great weekend! epic overrun there, mr. scarborough. anyway. summer bummer. july's job report delivers an underwhelming 162,000 new jobs. about 20,000 below expectations. unemployment rate did drop to 7.4%. but that's because fewer people are looking for work. we'll break down the numbers in just a few minutes. this news companiy comes as cos set to jet out town. what do they have to brag about to folks ba s back home? meantime, overseas, the state department says many embassies in the middle east and south africa will be closed on sunday because of unspecified ...