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That. the white house is working hard to convince us that their economic policies are succeeding without declaring a premature victory. but as they try to drag us out of this recession, they should pay attention to our neighbors to the north. in less than a year, canada has recovered almost all the jobs it lost during the recession. unemployment rate dropped below%. the unemployment rate here in the united states just under 10% and 700,000 census workers are about to join the ranks of the unemployed. what's different? what are they doing we aren't doing? joining me now leo juriard. you have a ...

Context. christine romans joins us me live from new york. what does this number actually tell us? >> it tells us that the unemployment rate in this country now stands at 9.5%. you are right. that's better than people had hoped and it is a decline in the jobless rate. but not necessarily because of a bunch of people got jobs. 600,000 people simply stopped looking for work that are no longer counted in the figures. when we look at job creation overall the economy lost 125,000 jobs in the month of june. 125,000 jobs, that makes it the first month this year that we have had negative job creation i...

It takes the consumer to say i'm going to wait to do what i'm planning on doing and that is a concern. >> it gets confusing but there is this contradiction we hear the number come out and we get the percentage. 9.8% unemployment but then what we're looking at is number of jobs and might be fewer people looking. what should we be focused on when we look at that number? >> that number moves around a bit. you do want it to ultimately move down but you're right. month-to-month, especially given what the actual work force is, the basis point changes are not as significant as you might expect. the u...

Things are going in the economy. regardless of whether it's backward looking in any way, shape, or form, we've gotten a lot of different pieces of information lately, whether it's housing or auto sales or any number of other data points that are concerning investors, that are concerning everybody, namely, about the fact that we may be headed into this so-called double dip. we're certainly a slowdown of some kind. even if it's not true it could have a psychological impact that proves self-fulfilling. we look at the numbers to get a sense whether things are moving in the right direction. we have...

Tremendous growth that people were counting on and banking oncoming out of asia. and then the other biggy and it's been out there for a while, and it's continued to plague this market, that's europe. and the fears of a debt contagion crisis. all of this, chris, adding up to concerns about a global slowdown. and if you've got a global slowdown, you're going to have a hard time getting people back to work. so yes, it's all sort of folded in together, a lot of concerns about what this job number's going to look like on friday. don't forget, the government even though it hired more than 400,000 ce...