>> from bloomberg world headquarters in new york, i am mark crumpton. this is "bottom line," the intersection of business and economics with a main street perspective. >> from bloomberg world headquarters in new york, i am mark crumpton. this is "bottom line," the intersection of business and economics with a main street perspective. to our viewers here in the united states and those joining us from around the world, welcome. why nbc'srns tells us confirms life events drive tv ratings. is tracking the

response to the surprisingly high november jobs are words. and the road ahead for the department of justice in a series of civil rights investigations. now to our top story, and it is the november jobs report. it was the biggest burst of hiring in three years, and the latest sign the u.s. is outperforming other economies route the developed world. experts summed it up in one word -- >> wow. >> my reaction was wow. >> this is probably one of the best years since the 1990's. say onemists always month's numbers do not tell you anything, and that is true, but this was really a good number. >> the labor department also

said that 44 thousand additional jobs were added. gained this year, putting 2014 to be the strongest year for hiring since 1999. two discussed the jobs report, im joined by diane swonk, chief economist from mesirow financial . good to see you. >> good to see you, too, mark. were strongerrs than the most optimistic projections. did they surprise you as well? definitely. there are based gains in the numbers we really like, hiring and business services, and countenance, management, consultants. we saw manufacturing and construction regard.

-- were good. all of the retail hiring is actually behind the scenes for online purposes. >> what were the wrong reasons? retailers andg food providers -- restaurants -- 30-hourple below that threshold, which means they are doing two jobs in one. people having to accept part-time instead of full time, down a little bit, but still way too much. >> a lot of people, a lot of jobs, a lot of part-time jobs. there was an increase in american paychecks, a sharp increase. it is the biggest gain in 70 months. if you look at the last 12 months, the hourly pay barely above the inflation rate. what will it take for workers to see a sustainable, livable wage?

>> we need to see the unemployment rate fall to 5% or lower before we see race wage gains in the u.s. economy, and i think the fed is committed to allowing the economy continues. they will raise rates again. this is not 1999. 1990 nine, the numbers were at that level because we were running out of workers to hire. that is not the case today. >> is the challenge matching skill sets? >> i don't buy that entirely. they say that they cannot get people to pass the drug test. the reasons are easy to do when you have a loose labor market. they can't find anyone with five years of experience? who was hired?

there are clearly spots where we need widget celebration, and we need broadcast gains. >> speaking with diane swonk, the chief economist from mesirow financial. when the hiring surge ins, at the end of the holiday time, will we still see the strengthen the jobs numbers? is this an aberration? >> i would love to see it sustain, but i do think some of these gains are the affordable care act, not necessarily in reaction to losing jobs. that does create jobs. other side, the broad-based nature of the gains touch sometarting to underlying strengthen the economy. we could begin to heal. this recovery in dog years is kind of middle-aged. >> if the u.s. employment numbers are so encouraging, why

are companies holding back on investment? >> the question. strongforget about the dollar. where do profits come from? not just exports. so, those issues, and i think defining uncertainty. to see sustained growth above 3% or above 2.5%. looking,s this year is overall, just over 2%, that is subpar overall. >> in the eurozone, unemployment is 11.5%, japan is in recession, china's growth is slowing down. will these headwinds hurt the u.s.? >> i think there is a risk of that. i do not think that they will hurt the u.s. as much as people fear. that is good news.

although it is notable -- was one of the only things to decline. are issues we still have to deal and there are geopolitical issues as well. how low can guess prices go before putin feels like he is in a corner? fed meets this month, 16th and 17th. does the november jobs number mean that the fed will raise interest rates sooner rather than later? >> no. they need more evidence. they have made it very clear they want lift up in 2015, but they do not want to do it too soon, too quickly. they want to get there. monthsnt to see several like this, and the sustained weight gain, maybe, but we still

have a lot of months ago to get to those months, right? >> is the fed concerned enough about inflation? >> this is a great thing, but the reality is beyond gas prices inflation is below the target and at the end of the day, what does the central bank care about most? inflation. they have pivoted their point on inflation is to low. tepid.till this is not goldilocks, but we are still a little cool. >> all right, diane swonk, mesirow financial chief economist with -- chief economist with mesirow financial . the short, but sweet mission of spacecraft orion. "bottom line" continues in just a moment. >> a new era of american space exploration. ♪

>> welcome back to "bottom line ." let's get you some of the other stories we're following at this hour. nasa's paul ryan spacecraft made a bull's-eye splashdown in the pacific ocean following a test flight that ushered in a new era of human and ration aiming for mark -- human exploration aiming for mars. ♪ 1.5, 4, 3, 2,

and lift off. at dawn. and a new eraion of american space exploration. and separation. separation -- [indiscernible] ♪ >> we are tracking straight down the corridor, on target for splashdown in the pacific ocean. 50,000 feet -- 15,000 feet until splashdown. we have splashdown. splashdown confirmed.

>> president obama is calling ashton carter one of america's foremost national security leaders. the president nominated carter as the u.s. secretary of defense . he was the deputy secretary of defense from 2011 until 2013 and was the pentagon's technology and weapons buying chief. if confirmed by the senate, he chuck hagel who resigned last month under pressure from the president. the chair of the foreign relations committee next month has signaled he will move slowly on iran. the tennessee republican said of his party should move cautiously as the assume the majority powers in the senate. when me understand

when you are in the majority, and you are not with the younistration, you realize have the potential of passing real legislation, and i think there will be a genuine search to figure out the best way congress can play a role. >> you can see the entire interview with tennessee senator corker on "charlie rose" tonight at 7:00 and 10:00 p.m. new york time. part of the strategy to make gmna a key market for cadillac, along with the united states -- china [indiscernible] and taylor swift among those picking up grammy nominations this morning. shake it off" received

a gasol nomination. those are following at this hour. to spread ininue the wake of a grand jury decision to not bring charges against a new york police officer who placed a new york man in a chokehold that led to his death. mean that churches are off the table. a federal investigation is underway. white house correspondent phil mattingly joins me from washington. good afternoon. >> good afternoon, mark. eric holder has had one reaction to the protests -- be patient. investigators are investigating michael brown and eric garner fell death and are investigating the shooting of florida teenager trayvon martin.

it is important to note that the garner case may be different. prosecutors must be able to prove that police knowingly used to much force to subdue someone in custody not considered a threat. several florida justices i've spoken with say that that is a bar prosecutors may actually be able to reach. the justice department is doing more than looking at the individual cases though, right? >> that is right, mark. basically they have been working on investigations with local police departments. these are also civil rights probes. places like albuquerque, new orleans, portland -- in those cases, the justice department often will force changes in department training and operation and

oversight. there is an ongoing investigation separate from the into policen officer darren wilson in ferguson. just yesterday, attorney general eric holder announced the completion of a probe into cleveland police, another local department facing protests in the wake of the shooting of an unarmed black 12-year-old. >> what is the president saying? is there any sense of how he has been personally affected? he made comments in the wake of the shooting of trayvon martin, and bill de blasio talking about his son growing up. is interesting, those remarks were some of the most handed and off the cuff remarks -- candid and off the cover marks the prison has made in his presents in office. perjury josh earnest confirmed today that the president has watched the eric garner

videotape everyone has been so jarred by. the feeling in the white house is this is one issue they may be able to make serious progress on. the president is always careful not to take one side or the other on these issues, but the resident has already laid out money to fund those body cameras, but also he is in meetings with civil rights advocates and law enforcement, feeling there is a major problem of trust. this may be an area where president obama could have a significant impact if he keeps up the pressure. according to white house officials i have talked to, the pressure will be caps on if the president has anything to do with it. >> up next, senior markets correspondent julie hyman will have another on the market pdate, and atari released

ong. we will hear from the men who made it happen in our special series, later. ♪

an age when consumers are watching television on demand, nbc's broadcast of "peter pan attracted 9.1ht million viewers. olivia sterns watched it last night because we asked her to. she choices with more. what do you think? >> at that was pretty good. you know my opinion. chris for walk-in was excellent -- christopher walken was excellent. he was delightfully kill your as

captain -- peculiar as captain hook. crucially, in the 18 to 49, that he demographic that advertisers covet. allison williams -- many of you know her father, brian williams, had a good night as the anchor of nbc nightly news. here he is yesterday expressing the run-up for programmers looking for live content. >> programmers have to find as many new ways as they can to get those eyeballs oh back to them and away from facebook, which is a good competitor. go to youtube, go to netflix. nbc has come up with at least one approach that lasted -- worked last year -- 22 million viewers, probably going to work again. >> you have a little bit of

victory. life events, and this new category of live musical life spectacle that advertisers and programmers are trying to build to generate that kind of audience. >> what was at stake for nbc? >> trying to re-create "the sound of music," which was the thursday fororts the network since the finale of "er." >> wow. >> what are you going to do it? >> what are the metrics for success? >> you asked me what i thought. it doesn't really matter. whether i love it, i hate it, the looking for people to watch, to tweet it. arthur levitt, the former

chairman of the fcc, was watching and he took the time to tweak about it as a flop. he said that it was amateur night. takes the time to do that. he is clearly not a fan, but that does not matter. he engaged on the second screen, which advertisers want to see. >> hate watch. te nobody hey watches -- ha watches your show. >> you are a beautiful human being. hour.minutes past the julie hyman is standing by. >> hey, mark. we are seeing a rally in the wake of that better-than-expected jobs report. not a huge one. there are concerns that the fed may raise rates sooner than expected. retailer reported a

wider than estimated fourth-quarter loss, but did not reaffirm its forecast. starz, controlled by john malone, now considering partnerships with other media companies. ♪

>> welcome back to the second half-hour of "bottom line" on bloomberg television. thinks you staying with us. -- thanks for staying with us. turning our focus to general assembly. they give students what they cannot get in classrooms -- training for the 21st century economy. upon graduation they are ready to start careers in manufacturing and design. thanks for joining us.

>> happy to be here. >> you went to yale. he went to wharton. that is your ticket anywhere. why are you doing this? you graduate with a degree, it is written in latin, and i thought it was like a harry potter phrase. i have that phrase on paper and it would open any door in the world. but unfortunately more and more we are looking for skills and what skills i have that allow me to add value to the job? what i found through that process is, there really is the slack of a bridge between the liberal arts, the core of their american educational system and important to our society, and the 21st century skills people need to be competitive. educationeague covers for bloomberg businessweek

magazine and was on earlier this week. we were discussing how colleges are now gearing toward freshmen as opposed to seniors, saying in a year i will have to get my life in order and get a job. mostere is a time that students seeking this kind of guidance for seniors. do you see similarities between that strategy by the career guidance officers and why you have been trying to do with ga? absolutely. we work with offices in colleges and universities that are well known to help them think how to do this for their students. i would say that idea of starting with a student when they enter your program, not when they end, and putting them on a track is incredibly important. have a career coach on step that starts working with students the minute they enroll in the curriculum is implemented in such a way, by the time they

graduate, they're ready to start their career in technology, management, design, and so on. finder 90% of students jobs within three months of graduation. how is that possible in the economic environment we are in? >> because our curriculum is designed with the end in mind. we have a network of over 3000 hiring partners that help us understand what are the needs of their workforce and had we make sure we prepare students to be part of that workforce. by being very focused on the outcome, we are able to build a very targeted, focused program and get them on the fast-track to a career they will be excited about. young people telling you? what are their hopes and fears of the time approaches for them to go out and make their mark on the world? >> i think people -- and this is not just young people, this is everyone -- one to have something they are excited to

get up in the morning and go to. >> a career and not a job. >> that is exactly right. they do not expect the career to last forever, but it needs to be meaningful and it needs to grow from a personal professional level. what we are doing, we are offering people in on ramp to structure careers in exciting, new industries and join a global community of alumni who share their passion for those industries and the growth in the future. thee were talking about november employment numbers, but the unemployment numbers for young people are still in the teens, the double-digit. does that lend more urgency to what you do? absolutely. education to employment is part of a larger trend. this is part of a transformation we're seeing in the nature of work and how that relates to

what education to provide. education currently is setup to provide a lot of things bundled together, whether it is high school or college. it is about becoming an adult, opening yourself up to the world, understanding history, art, science, but we also want education to provide the preparation for your economic life, and i think what we're might havese needs the intention and the bridges, the programs the general assembly can help provide the pathway to better education and employment. >> speaking of a pathway, such nadellaella -- satya had his first meeting at microsoft and he had a simple message -- diversity matters. thatu share the concern diversity may be lacking, intact and silicon valley? >> sure.

program a general simply called the opportunity fund and funnily enough, microsoft is one of our partners and provided scholarships for join our web development program and get hired as web developers. that program is in its infancy. our plan is to steadily increase the number of women represented intact. there is also uses economic divide. veterans. as we expand our footprint and how we think of ourselves in this education to employment context, our goals are to bring as many people do and accessible on-ramp for them to start careers as they are going to love. >> and the investors have given you $249 million in funding so far. website if people are interested? ga.co.edu.

fedll right, more on the when we continue in a moment. ♪

sure to check out the latest edition of bloomberg businessweek. iss week's cover is the 84 -- the 85th anniversary issue. each are five covers, highlighting one of 85 ideas -- yourts newsstands and tablet today. you can read it on the go with our new businessweek app. thei released pong, videogame that started in entire industry. the creator will tell us about the moment they knew they had a game changer. >> he came up with this thing.

a tv set and on you change the vertical hold, the picture goes that way. can we do that horizontally? nolan asked al to use the motion circuitry. >> al is the better engineer by far. >> it that on tape. we had this thing from magnavox. wasad competition, and i scared. they had two or three magnavox odyssey set up. i looked at it. it was fuzzy, it did not have sound, but i looked around and people were kind of having fun with it. what i wantedal to do, and i thought a good training program would be this

ping-pong game. two-putts spice into it, i told him i had a deal with general electric, which was totally bupkus -- >> he lied to me. [laughter] >> we found cells playing it after work for hours. seenis game had never been in the wild before. there were no instructions. there was nothing like it. i was dying to see how people would adapt. boom, they started having fun with it really quick. if thisf a sudden, al call. the machine is broken. al rings, trying to find out what went wrong. >> i got the call, it stopped working. >> it was jammed with too many

coins. coins, andd up the the quarters just filled out, and i called you up and said, nolan, i think we have a good sign here. >> the great disruptors special decembertuesday, ninth, at 9:00 p.m. new york time. it is time now for today's latin america report. a celebration of the victory of candidate inrty the presidential election. his left-wing coalition party told legalize gay marriage and move to create the first state run marijuana marketplace. -- vasquez is a former

oncologist who was president until 2010. officials said that trading volumes had declined more than 50% since a tax in lima was introduced in 2010. this made peru less competitive than chu a and columbia -- than cololmbia.that is your latin america report for this friday. we will be right back. ♪

caffeine addicts everywhere have a new paradise. anrbucks opened its doors to upscale coffee megastore that will showcase the company's ultra-premium reserve line of coffee. we gote a sneak peek -- a sneak peak, the first of 100 such cafés to open globally in the next five years. >> every city has a specialty.

in seattle it's all about coffee. >> i think it has been curated over time. is often credited for cultivating the city's coffee culture. the emergence of the five dollar for nella nonfat soy latte was just the beginning. it has become part of the seattle coffee scene. brewed coffeen can cost as much as five dollars a cup. welcome the next wave of coffee consumption. starbucks, which made itself in everyday commodity, now wants to elevate. >> the customer will continue to change.

we want to keep up with that change and believing it. >> the company is opening its first design roastery. they will design 100 high-end cafés, brewing only rare, specialty coffees. the paris's does explain the -- aristas explain the origin of the beans in the brewing method. plis all part of starbucks' strengthen its position as the go to coffee retailer. >> the greater level of awareness that coffee drinkers have for what makes copy unique and's estoril, that -- unique and special, that can do nothing but benefit small independent coffee consumers.

an opportunity also lies in the success of bagged beans. make millions of pounds and they still have thousands of stores catering to caffeine addicted americans. it is friday, so we bring you encore, a look back at the most notable newsmakers on "bottom line." there are oil producers in worse shape in terms of cash on hand, right? -- also because the u.s. dollar has strengthened so much and oil is denominated in dollars, in a way that shields a country like russia a little bit. >> your website is your face.

of people's impression of you is what they see around your eyes and your face. window, the one window in macy's that hundreds of millions of people look through. there is real interesting data, mark. 50% of purchases are influenced right digital. >> how much of a gas benefit is arguablynto these pulled forward sales from december into the black friday holiday? the average age of the fleet here is 12 years old. is closer to eight or nine years. is this enough of a catalyst to get folks back into dealerships? i think that is the real question here. >> the facebook said that wage growth is dim, but i do expect next year to see -- one of the

pings i am looking at is the t people are gettingrate. more confident about their bargaining essential. the unemployment rate is very low, particularly the short term unemployment rate. i think down the road we will see wages pick up. >> wage growth is one of the biggest concerns across the u.s. consumer. gainsnd that 67 or 60% of seem to be driven by the creation of new jobs. >> i think what you see in results this corner is our diversified model. we have 25% wholesale. at there, it looked back notable newsmakers from this past week right here on "bottom line." stay here.

another check of market movers on the other side of the break. ♪

>> get the latest headlines at the top of the hour on bloomberg radio and ring on your tablet and bloomberg.com. that does it for this edition of "bottom line" on bloomberg television. thank you for joining us. on the markets is next. have a great weekend. >> it is 56 minutes past the

hour and that does mean that bloomberg is on the markets. i'm julie hyman. we continue the rally, although we are coming off the highs of the session, the s&p 500 only up .1%. we have that better-than-expected jobs report this morning and now investors are trying to recalibrate expectations of what the fed might do given the stronger data, numbers. companies like sony, target, cyprus curate he is -- cyber security is a big concern for companies. a topic as of late. it seems every type of company and there ared, two get of companies that have sprung up to defend them against hack attacks.

>> and now it is time for etf's to track those companies. >> it is. >> timing is everything. timing is everything. it has a good ticker -- hack. fast start. a $2 million in assets after three weeks. it does not so much a lot, but after three weeks, it is. it is a bit like the equivalent of a hit in the film. it is not some of the distribution, but the timing is perfect. when you think of security stocks, the portfolio only has 4% overlap with the largest tech etf, so a lot of people using tech, they're not getting these companies. it reminds me of social media

for years when social media was the only one that had some of the social media stocks. if our investors are trying to where -- right this way for what exposure to upstart companies, the etf provides the value, but not having the overlap, it can be very volatile. >> yeah, definitely. >> they have to fill out the portfolio going to mid-and small cap. securee must be pretty -- obscure companies. what are some of the other ones that are even out there? fireeye is out there. splunk. cisco is one i have heard of. if i go into xl k, i expect to see apple, microsoft. i think the less unknown is a good thing in this case.

if you went into one of those companies, you are going to see a lot of volatility with that stock. so, that is certainly the value add here with hack. >> it is still young, but how has it been? >> about double the broad tech market and the s&p. >> interesting. >> there is a lot of play potential. hack, talking about the etf. love the ticker. "street smart" is next. ♪ . . .

>> welcome to the most important hour of the session. we have 60 minutes until the close. i am trish regan. this is "street smart." the dallas heading for 18,000. economys betting on the after a stronger-than-expected jobs report. i will have an all-star cast to talk about these levels and what to expect next. i'm also going to focus on oil prices today. we have it all covered for you. "street smart" starts now.