welcome to "on the money." i'm becky quick. the all important jobs report. what does it mean for your money? the man who runs aetna shares a personal story of his family's health issues. >> we were the connection. >> finished first in the new ranking of colleges, a small school you never heard of. why you should know the score, your credit score that is. how to raise it and a common

mistake people make. "on the money" starts now. >> this is america's number one financial news program, "on the money." now becky quick. here is a look at what is making news as we head into a new week "on the money." the economy created more than 200,000 new jobs. the labor department released the unemployment report on friday. 209,000 jobs were added and the unemployment rate inched up. both numbers were slightly below expectations. numbers for the last two months were revised higher. the u.s. economy grew. it rose by 4% and also a strong bounce back for the first quarter when the economy shrank. the gdp is the broadest measure ft osize and strength of the economy. the markets tumbled at least in part. the dow falling more than 300

points dropping to a two-month low. stocks continue to fall on friday. earnings were mixed this week. ups beat expectations but the company lowered outlook because it said it would be spending more on some infrastructure. american express came in ahead of predictions. twitter beat by a landslide. linked in and tesla came in ahead of expectations. volatility returns to the markets with avengeance. what does it mean for your money. joining us dan greenhaus and heidi moore, finance and editor at "the guardian". it was stunning to watch what happened at the jobs report and the market's immediate reaction to it because people had been gloomy and doomy. this number came in below expectations. >> it says something about how far we have come that a 210,000

jobs report seemed to some degree disappointing. it says something. from the market's perspective and a general sense coming into the report there was a lot of nervousness in the markets that if this market was 275 or on parwith what we had seen last month. so you had negativity built in. when it came in on the benign side you had optimism in the market. >> heidi, when you look at over 200,000 now for six months in a row that is the longest streak we have seen like that since 1997. >> we don't want to throw cold water on that. it is definitely progress. it is hard not to compare it to where we could be. we lost so many millions of jobs during the recession. we not close to full employment by any means. the number we should be watching most is labor force participation rate. it means that only 63% of

americans who could work are working and that leaves a lot of room for improvement. >> that was definitely below what we have seen in recent history. people say this is a demographic change in the united states. how much of it is demographics and how much is it people want jobs. >> the demographic argument is appealing. i think there are statistics that show actually not as much as we think. that argument says more people are retiring and we are an aging workforce. >> because the baby boom generation is retiring. >> when you look at the statistics these are people who should be in the workforce who aren't. they are not the baby boomers who are retiring and are not the milineals going to college. no one is really interested. >> we watched the markets really take a stumble this week. people got more nervous looking at it didn't seem like there was a huge change in anything. what do you think caused this rash --

>> the short answer&true answer is in the short term it is random in nature. generally speaking what happened over the last few weeks is you built up optimism into the market of the economy and then you dismissed away some headlines like what was going on in russia and gaza. and then just sometimes these things happen where the market turns on a dime. i think a proximate cause was inflation data, the number that was better than expected in terms of earnings but bad for markets in the sense it changed some people's view about the federal reserve. when you have as strong as rally as we have had what is sometimes a benign reading is often used as a catalyst. >> that was one of the things that people watching so closely that people are looking for in terms of the average earnings per hour. that number didn't budge. maybe that was a bit of a side

relief. >> it budged in a sad way by one penny. that's exactly the problem. wages are stagnant. with rising inflation that is what creates another tension in the economy besides unemployment which is the people who are employed are trying to buy more with less money. whether it is weighing on the stock market is a different issue. corporate america has been experiencing something different. it has had rising profits and able to return money to shareholders. there is nothing to indicate that there is a crash coming or anything like that sort. this may be an adjustment. >> on that topic a lot of people watching the show and come up to me in public and say how could the stock market be doing so well when the economy is doing as bad tazis. the stock market is telling you that the operating has to be

able to generate profits. >> how would you judge the economy at this point? >> i would say there is a favorite word of analysts, biforicated. if you want to use the wall street main street divide you are seeing companies work harder to try to make profits. eventually that has to lead to reinvestment. you have to believe these companies will use the profits and grow and that what we are going through will shift. >> what are you telling investors right now that are worried about what to think? >> there is a lot to be worried about. there has been a lot to be worried about for 40 years now. the stock market is up exponentially. we shifted some concerns into now the fed used to be doing too much to now the fed is going to stop doing so much and stop distorting. so the concern has shifted

somewhat. ultimately it gets back to what i said before which is the environment matters. it is going to be a move. we have had many move and we will have another after that. until something changes fundamentally, interest rates spike high the bias for equity is almost always higher. in the immediate future there is some stuff to worry about. in the median term the bias remains to the upside. the ceo of the third largest health insurer in the country on surviving his own health battle and what he prescribes for fixing america's health care system. why a four year degree at some under the radar schools may be a better value than you knew. take a look at how the stock market ended the week.

isn't your run of the mills ceo. he is in charge of aetna and brings personal experience to his job. mark, thank you very much for joining us. >> thanks. >> we know each other fairly well. what amazed me is your own personal story. you had some personal tragedies. can you tell us a little about that? >> in 2011 my son was diagnosed with terminal cancer. given all of the economic power i had and the political connections i had there wasn't a cure to be bought, more or less. and what i was told is he had six months. nobody had ever survived his cancer. i took it on as a challenge and left my work and went on the

road to try to find somebody who could help us think about how to address this cancer. we found a doctor in boston who said let's do this type of bone marrow transplant. let's do a bad bone marrow transplant and it will push the cancer away. i moved in his room with him and lived in there for over a year. what i learned through that experience was the health care system is not very connected. we were the connection. we were the advocates. were it not for that nutrition wasn't connected to chemotherapy, it wasn't connected to the nursing staff. there were a lot of errors that happened along the way. >> how did you take some of that experience and change the way things are done at aetna. >> the whole idea of having an advocate and nurse case manager and a doctor to consult is something we do with all of our

significant illnesses and surround members and help them navigate the system to provide advocacy for them. >> that sounds wonderful from a patients' right perspective. people have to wonder if it makes sense from the bottom line? >> it is more cost effective. you get more effective, more efficient care because we are sending you to the right place the first time. i think also there are a lot of tough decisions to make. we had to put eric in hospice. we had to admit he would die in six months. one of the other things i did when he survived that experience and graduated from hospice, one of the few people who do was to come back to aetna and say why do we have to have this requirement to have people admit they are going to die? we did a two-year study and found it was cheaper, more effective and people felt better about it. >> let's talk about the health

care system here in the united states. health care premiums are growing at about four times the rate of inflation. america doesn't have everything figured out when it comes to how a health care system should work. what are we doing wrong? >> we are paying for it the wrong way. we pay for every unit of service that is provided. what we are incenting is more units of service instead of saying here is an individual. we will pay to get them well again. the sooner that happens the more potential there is in margin in that revenue. you think about the way the economics are structured in the health care system doctors work on a cash basis. hospitals work on a revenue basis. we need to get on a margin basis that says we need to preserve the capital in the system and the best way to do that is to generate a model where we are rewarding the right outcome.

>> can we do that? we are a long way into our health care system. it is big and complex and complicated. >> the biggest actor is medicare and medicaid. it pays 60% of the bills today. they work with the public/private industry they work on a new model to reimburse that would be number one. the second would be how we take care of the sickest people like my son, eric, get them to the right place. there was a study done in the early '80s that said people who travel more than two hours from their home for significant illnesses have better outcomes. why is that? >> i don't know. >> they went to the right place. >> you reported earnings at aetna. the numbers were better than expected in terms of the quarter and the guidance for the full year. however, the cost in terms of the usage, utilization, how much people are using that health care insurance also went up.

that raised some concerns. how should they look at things right now? >> i think you need to say the last four years was unsustainbly low. some people want to call a new normal. what you worry about is not necessarily lower use of unnecessary services but lower use of necessary services. people with chronic illnesses not taking medications are going to show up later as very sick people. i think utilization was bound to return. we projected it would return. we put it into our guidance. we do that virtually every year. the street probably expected it would stay the same and it didn't. now they are worried we have a utilization boost coming. you see gdp numbers today that probably aren't supportive of an economy cooling off in any. >> i want to thank you very much for your time. i appreciate you being here. >> thanks, becky. up next, we are "on the money" looking at college's high

cost. the surprising schools that offer the best return on your investment. at old addage by now and pay later could help or hurt your credit score.

sometimes you get what you pay for and sometimes you get more. money magazine ranked the best colleges for the price. if you think it is the usual ivy league suspects think again. the senior writer at "money"

magazine is here. great to see you. this caught me by surprise. number one is in the babson college. >> it is a focus on entrepreneurship. the freshman class starts a business. they all work together. so it is hands' on experience. the profits go to nonprofits. they have very close relationships with corporations, paid internships and high success rates of getting their students jobs after college. >> i like your list. i like it is not just the best colleges. it is the best colleges and the bang for your buck. how should a family be thinking about this? >> college is a huge investment. what we wanted to do was look at your return on investment. so we looked at three things,

educational quality, affordability and career outcomes. when you are a parent looking at what school is the best return for your money you want to look at schools that have rigorous programs that are going to demand a lot from their students. professors who spend quality time, schools that support the students to get them to graduation rates that are on time. if it takes a long time to graduate you are not going to get a lot of bang for your buck. another critical part are career services programs. there are a lot of people in the career services? are there paid internships? >> so the huge thing that you have been looking at is can you get a job right out of school and which schools ranked highly on that? >> one-third of college seniors when they graduate are on or under employed. the schools you see in our top ten list do an excellent job of

placing students into paying jobs. >> the obama administration is trying to develop a college rating system based on cost. what kind of things do you think will be emphasized? >> it will be the value you get, the true cost. one of the things we did with our ranking was look at what is the real cost minus financial aid, minus merit scholarships but including parent debt and student debt. >> you are not just looking at the sticker price that may not be the sticker price. >> we looked at the true cost of a degree. if you want to look up your school you can go to money.com and see how it fairs. and the obama administration will have its own ratings so you can look at that. >> thanks for coming in today. >> thank you. up next "on the money" a look at the news for the week ahead. how to reach a higher credit score. the one thing you may be forgetting to boost your number significantly. don't just visit new york.

visit tripadvisor new york.

with millions of reviews, tripadvisor makes any destination better. for more you can go to our website. you can follow us on twitter at on the money. a big week for media company earnings. we will hear from disney, time weste werner. on thursday the federal reserve releases data on the consumer credit for the month of june.

on thursday the european central bank holds meeting on military policy. have you checked your credit score recently? credit websites, card issuers and one student loan company are offering free scores that may not be just one score to consider but getting the best possible grade is still the name of the game. sharon epperson joins us on how to raise your score. >> this is something you definitely want to do because your credit card can determine whether you get a credit card, mortgage, car and what rate. less than half the consumers know their credit score according to a survey by the american bankers association. >> i checked it not too long ago. >> they said it was good but i don't know what it is. >> i try to make sure i know what is going on because i have goals i want to accomplish. >> what if i know my score and i know it stinks? >> there are definitely things

you should do. the first thing you should do is pay your bills on time. it sounds so simple. that is like half of your credit score based on that. making timely payments is very important. you also want to keep your balances low. what i mean by that is if the credit card company says you have a credit limit of $10,000 you don't want to use that entire credit limit. that's not a good thing to do for your score. you want to keep that low and make sure that you pay off as much debt as possible. >> i wonder if you hear about these things you know you have a lousy credit score and are trying to get ahead on situations, are there other things to do like close accounts? >> no. you want to look at your entire credit history. that is what the credit card companies are looking at or the credit rating agencies. and they are not looking at just how much credit you are using on one credit card but all of them.

when you close the accounts then you have less available credit and using more of it. so that could lower your score. >> you generally have good credit but maybe pay one bill late? >> a couple weeks old or have you already been contacted by a creditor. when you have a late payment that appears on your credit history it is going to stay there for about seven years. it will have a negative impact. i'm talking about late payments not just the department store card or library card. thank you. >> that's the show for today. i'm becky quick. thank you for joining me. each week you can keep it here. we'll see you next weekend. ♪ the last four hours have seen... one child fail to get to the air sickness bag in time. another left his shoes on the plane... his shoes! and a third simply doesn't want to be here.

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[ticking] >> thank you for coming. we're gonna make some history together today. [cheers and applause] >> when steve jobs handpicked walter isaacson to write his life story, he had already been diagnosed with cancer, but after 40 interviews, the biography provides a vivid picture of a complicated man. >> i think it's a tough book. >> it's a book that's fair. i mean, this is a real human being. >> you will hear tape recordings of jobs himself talking about being adopted, creating apple, and his regret over ignoring what could have been life-saving cancer surgery.