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Season, here's what this all means. the americans are working. the economy is growing, wages are rising faster than inflation and we have avoided a catastrophic rail strike. >> with me in studio to share the reporting and insights margaret talev, tina smialek of "the new york times" and cnn's vikram raju as well. this is your wheelhouse. you look at this report, 263,000 new jobs, 3.7% unemployment rate. sector by sector everything but retail trending in the right direction so why are people a bit nervous about a good jobs report? >> all of that inflation at this stage, so the federal reserve h...

President biden highlighted when he touted the state of the u.s. economy today. >> our economy continues to grow. we're in a position now where things are moving. they're moving in the right direction. >> new numbers out today show u.s. employers added 263,000 jobs in november. more than anticipated. the unemployment rate held steady at 3.7%. now wages are also up more than 5% for the year. it's feeling fears that the federal reserve is going to do another big rate hike. diane swank is a chief economist. let's start. before we get to the fed, just on the characterization by the president that ...

Unemployment rate very important to watch here. when you look at the jobs added monthly month, you could see 263,000 was the weakest we've seen in about 18 months. you go back to november of 2021, so this is a far cry from a year ago when we had more than 600,000. that was a roaring red hot job market so you've seen it cool down a little bit since then. but in bigger perspective, 4.3 million jobs added. so far this year, you heard the president there just talking about how 10.5 million added so far in his presidency, the most ever for that period of time. just look back to pre-pandemic levels....

Really hot economy and a positive report. that having been said, the hope is for this economy to cool a little bit. what do you make of this? >> it's when good news isn't quite so good. any other period of type, this would be blockbuster shout from the rooftops the u.s. economy is so strong here and the job market, but the white house, the fed, wall street, main street even wanted to see this cool so a strong job market doesn't spin off inflation that's harder to crack. 263,000 jobs added and the month before was revised higher. 3.7% unemployment rate. close to the band that is near a 50-year ...

Look, folks, gas prices are down. you barely hear anything about it now. they are continuing to go down. there is a lot more that is going to happen. they're down more than 1.50 a gallon since the summer and they continue to fall. our economy continues to grow. economic report, gdp is up more than it was previously thought. we continue to create jobs, lots of jobs. and today we've learned that the economy added 263,000 jobs in november. now we've now created 10.5 million jobs since i took office. more than any administration in history at this point in a presidency. and 750,000 of them are dom...