Jobs Report: Unemployment at 7.9 Percent

U.S. economy added 157,000 jobs in January as unemployment edges up.
6:40 | 02/01/13

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Transcript for Jobs Report: Unemployment at 7.9 Percent
Your latest in business -- You're watching live coverage of the opening -- Some news now and ringing the bell this -- -- And animal health company noticed going public today it's pretty good cheers from traders below. -- -- entry for today. The first day. Thirteen. And what I'm -- that. There in new York stock futures ought to rise this morning after the S&P 500 had its best start to a year since 1997. And -- -- jobs report that came out just a short time -- joining us now with all the -- business headlines is Yahoo! finance is -- task Aaron Good Friday morning to you a lot to get to today when that analysts are bad jobs report 137000 new jobs. With that what was expected not so much what do the numbers mean. That the headline number of Virginia was a little bit weaker than expected but inside the report they were -- upward revisions. -- November and December to the -- of -- 127000. So overall this report was better than expected. It let people feel a little bit of relief after that GDP number we -- -- this week that showed the economy contracted in the fourth quarter. So I think that's the reason why the markets are at least here in the early going people find okay the wheels are coming off the bus here and what did you for the actual unemployment -- take a look at what the -- doing right there I mean it was I mean it's still relatively close to 141000 which -- a market hadn't been reached in a couple of weeks but. Bomb. What what does it mean -- the unemployment rate. Yet when we did take up the seven point 9%. -- an end. It was a bit rounding error really not rounding error but it was like you could it it was like seven point. 8923. Is opposed to seven point 8429. Last month so. It's it's at the margins in -- ticked up. You could argue that's because more people are entering the labor force I really think -- would make -- which of the unemployment rate for this particular month. And again the headline number an upward revisions. For the last few months of last year show in the job market continues to chug along at a decent clip not a strong clip but he decent clip. Does this stop the discussion of a possible re entry to recession and again you -- to that with that attraction of the -- via fourth quarter. But does this -- -- a number helped stop those conversations. -- I think it should that GDP number was definitely a shock of the -- look inside the number and there's a huge drop in defense spending. And peoples and well okay that that was a one month thing -- hurricane. She excuse -- -- -- sandy hit the numbers last quarter so there were a lot of one time things in the fourth quarter. Deathly scared people I think it should stop the recession talk but again it it paints a picture that we -- our economy. That is growing but very very slowly so any kind of -- that comes along. Could get this back into recession and he gets the real message we should take away from our I wanna go to should talk to toy companies not doing so well we're talking about you know -- some progress slowly being made to to a company's. Not exactly on that same bandwagon. Yeah I mean you have -- Mattel and Hasbro that the numbers are just not very good that they've they've reported again. In the the other number we've got recently was that January consumer confidence number which took -- deep. Dive which some people said was because of the fiscal cliff discussions and maybe just because you know Americans -- -- okay. As we're talking in the economy's doing better but it's certainly not going gangbusters and so things like spending on toys. It's you know if your kid it's you have to have it but for the adults it is an ultimate discretionary item in May -- kid. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And that's not easy for hours on -- that's -- frustration of somebody cards they got that may show up on the crazy cash for these toys and a kid plays -- the packaging. Yet we're just give the kid at hand and a spoon and and that's your next June but -- they love it -- still works for me at this day and age Jason good news coming out of Detroit for Chrysler right. -- they had some solid Parcells and there also forecasting that for the industry this year we're gonna have over fifteen million. US. Auto sales which is a pretty big number not back to -- you know pre crisis -- -- we're we're getting there. Remember -- fondle a ten million after the crisis it's a fifteen million if that's what happens this year an auto sales -- be a very strong number. Chrysler did have strong results. For January of -- you know I will say though that there are some reports about Chrysler's. You know a -- -- marching when he was quoted in the Wall Street Journal is missing they just hadn't been able to invest in new models so he's concerned they're gonna start to fall behind it they don't have the new stuff coming out that's connects at the consumer. But then you know this from this number today was solid and overall the auto market and here in states is doing much better. -- and I think here obviously for Detroit and US auto economy throughout yes bright red -- licences. I was -- go ahead. -- -- real quick so Ford reported earnings early this week they did really well in the US but they're having lot of problems in Europe and I think that's the story for all the auto makers. US market is strong but the struggling in Europe so for the company's it's a mixed picture for the US auto market is -- signs of strain. All right before we let you go wherever -- -- and its impact because it's not just you know. Got out there having a good time and there's some serious -- behind this. Yet they -- there are serious bucks behind this -- billions of dollars. Will be flowing into you. New Orleans in the surrounding area because the Super -- as we -- because of course it's not just the game it's the whole weekend around -- a lot of the corporate parties. In a lot of big spenders he -- San Francisco. Playing in the super -- you got a lot of wealthy people -- silicon -- follow the 49ers they're gonna become its New Orleans they're going to be spending. Big big bucks again not just on the game but on the whole weekend around that all kinds of stuff happening I wish I was gonna be there but go 49ers. Man written from the press box not supposed -- and we're not supposed that happen -- for a 34 million dollars for New Orleans but -- on a grander scheme of things twelve point three billion dollars. Spent on apparel -- everything Super Bowl related ads about 68. Dollars per consumer. You think we like our football in the country. We love powerful. And you love reporting honest let's take one let's look at the big book -- ago -- the Dow is trading up about eighty points at thirteen 1940. Very close to that 141000 mark -- -- hit. Have to wait and cigarettes today -- task have a great week got to Tucker forty niners do well Gloria -- stated.

This transcript has been automatically generated and may not be 100% accurate.

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