. welcome to on the money. i'm becky quick. soring stocks, tumbling gas prices and that jobs report, what it all means for your money. it is a taxing question. and picture this, humans of new york, the bond trader who reinvented himself and now has a booming business you may have heard of. plus, why there really are second acts in american lives. how to write the next chapter right now. >> here's a look at what's

making news. u.s. employers were busy hiring people at a much faster pace than expected, 23,000 jobs last month. importantly, average hourly earnings were unfour-tenths of a percent. that's the biggest spike in a year and a half. the markets kept their gains and closed up on friday. auto sales in november were in high gear. chrysler rose a wopping 20%, that's an annual pace of more than 17 million vehicles sold. that's the best number since 2003. talk about expensive cabs, uber is now valued at $40 billion after its latest round of

fund-raising. uber's ceo says it will create jobs in 2015. watching the big jobs report and a strange shopping season. what's the section. joining us right now is mike santoli he is yahoo senior columnist and austan goolsbee. >> surprise to me that. they really crushed it. we don't know whether it is a long-term trend, though you not only had the friday number being big, they also revised up for the previous months. if we keep a sustained kind of growth at the 300,000 rate, i think you'd see the fed and some others kind of reconsidering how strong the economy is. >> that may be the reason we saw

some fluctuating after the numbers hit. the markets i think want good news at this point. >> yes. >> is there something to be said for most of this already being baked in? >> i think to some degree, yes. i think in the last couple months the idea was gathering some strength and retail and restaurants had been doing very well. that has been baked in to some degree. i do think the market wants good news but it would make a lot of sentence to me if the economy out performed the stock market for a while, because we've had years where the reverse has been the case. >> i get the sense that the consumer is doing great. however, some of the early national retail surveys and things like that actually showed a decline in terms of what we saw from the consumer. do you believe that? >> i don't believe that. we're measuring things like

traditional mall traffic on black friday. and there's been enough changes that the numbers are noisy but november seems cookay. three million more people working give or take since a year before. wage growth has been weak but obviously there's more money in people's pockets not to mention the gasoline decline. so i do think the consumer is in better shape. >> you watched the jobs number today. sitting in that position, if you had to be making those choices, you saw the jobs number, but you also have oil prices so low meaning that we have very little inflation at this point. >> i think that the fed is not going to convince itself that the economy is really growing that fast. i think you've still got substantial dangers coming from around the world in a lot of places, slow-downs in china,

europe again teetering on the edge of some kind of black hole. so i think it would be a mistake and i don't think the fed is going to overreact to one months numbers. but set the stage just because you see some wage increase, that does not mean they're going to tighten. in fact, they've been saying they want to see wage increase, that that would be a sign of more sustained growth. they're only going to start tightening, i think, when you think there's some danger of actual price inflation and there is none. >> we had this camp of people who thought for sure we'd see some sort of a fed rate hike by the middle of next year then people say, no, not until 2016. and then middle of 2015. where are you? >> i have always been of the view that the middle of next

year was the earliest it would be. i have been feeling that the growth rate is not as strong as what the optimists want it to be. i don't expect these kind of jobs numbers about the strong gdp numbers we got the last two quarters -- i don't think we are yet to a three percent plus sustained growth rate. so i think the fed will be data driven and slower than you might think. >> i think whenever the fed races rates, the markets will have been very well prepared for it. that means changing the language in the reports. by the middle of next year i think whenever the fed does rate rates, it probably is going to be very overdue. i don't think the market will have a knee jerk reaction to

that. we've pushing a 15% return on the s and p 500. >> that doesn't consider the idea that if things are ter shl in every over market, we still look like the best house on the block. >> we do but the house that's the best on the block should be the one you're not supposed to buy. >> you want the smallest house in the best neighborhood. i guess that's what you're suppose todd to do. >> exactly. >> don't get used to those low gas prices. the bump in the road that could cost you more at the pump. we will talk to the man who is at the head of a social media phenomenon.

. no. your eyes are not deceiving you. that is really gas for under $2 a gallon in oklahoma city. how long could this possibly last? would the pain of a higher gas tax now be worth the gain of better roads and infrastructure. ed rendell says yes. layout your case. why do you think we should be racing the federal gas tax? >> our infrastructure is crumbling, our roads and bridges are in dangerous condition. it actually will save people money. the average driver loses over

$800 a year in gast wai wasted congestion. the bill would be 12 cents adjusted for inflation. they would get a return on that investment. they'd actually save money, plus it would make our infrastructure safer. it would improve our quality of life. the world economic forum ten years ago rated us the best in the world. but not anymore. it would also create tens of thousands of middle class job that is pay between 50 and $0,0 $80,000 a year. >> i thought some of this was supposed to be fixed with the

stimulus. the new jersey turnpike is now eight lanes all the way down to exit four or something. what happened? what went wrong? >> it just wasn't enough. we need to do something for our infrastructure just like all the other g 20 nations have done. in pennsylvania we got a million dollars from stimulus. that's 2100 bridges we fixed and repaired. it put a lot of people to work. it did work, but it wasn't long enough. in fact, as you know, barbara boxer and jim enof, one of the most liberal and conservative members of -- >> here's what critics will say.

they will point to the highway trust fund right now and say look this turn into a big piggy bank. this money doesn't even go to doing what it was supposed to be with building bridges and road and highways. >> whose fault is that? >> how can we make sure it goes to what it's supposed to do? >> that's totally within congress and president's power and it should happen. it should be used for its original purpose, no ifs, ands or butt buts about it. mass transit is a huge help to the situation in our highways and roads because the more people we can get off our highways and roads, the less congestion we're going to have

and it help it ps the quality o lyes. we've got to do it because since 1980 we've increased vehicles on our roads by 100 percent. we've increased lane miles but less than 5%. >> this is not a progressive tax. this is something that hurts people equally across the board. it's very unfair for people who have to drive just to make sure they're getting their wages. how do you try and even it out for people especially once gas prices go back up? >> first of all, number one, the poorest people don't even have vehicles. in philadelphia six out of ten people don't have cars. that's number one. number two, for middle class people, remember, go back to the statistic i quoted at the beginning of the interview, you will save money by having better roads and bridges.

every time you hit a poll hole and your car is thrown off the axel it costs $190 to have it fixed. you've got to spend money to make money. >> thank you for joining us today. >> my pleasure. >> governor ed rendell. later, maybe there really is a second act in american lives. what to do when you are done with your fist career but you've still got some gas left in the tank.

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. we're paying 3.50 for a cup of coffee. you know how much a pound of coffee beans cost? 3.50. that's a quote from humans of new york. take someone's pictures, ask a few questions and then post the photo and the interview online. that is how the man sitting next to me brandon stanton's blog became a global sensation. he has attracted for than 10 million followers online. it's also a number one selling book. his latest book captures young people in the big apple. this is stuff a strange transition. you went from being a bond trader. you'd never taken a picture. what happened?

>> basically i had traded bonds for two and a half, three years. this was right before 2008. >> crazy timing. >> the trading that we were doing kind of stopped working. so i was at the end of a two-year period where i thought about nothing but money and i had nothing to show for it. so i said i was going to try and structure my life around something i can enjoy and make that sustainable and not concentrate on money. so through that evolved this kind of portrait photography that later became humans of new york. >> i think it's phenomenal. how you got from there to here still baffles me. even why you chose new york pnchts i h pnchts. >> i had never been to new york before. after i lost my job i kind of traveled around. during this travel where i was photographing every day i evolved this method where i'd

stop people and take their photograph. in new york there's no greater density of people ap at this time i said i can make a great website. my initial goal was i was going to take 10,000 pictures of new yorkers. and obviously it evolved much more since then. >> there is great diversity in new york. it's a city with a tough personality. >> right. >> how often do people tell you get that cramera out of my face? >> i think i'm good at it. i've gotten it down to where one out of three people say no now. no affirmation of my existence, so. >> that's good for the psyche right? >> right. >> you've got over two million follows on twitter. how in the world did you do

this? >> i try to stop strangers on the street and try to find out a personal or intimate story and i put that with their photos. i think the interest people have in learning these intimate details of strangers. kind of combination of an -- >> i've cried in the street a few times. i remember this one story in central park, very rainy day. this woman was 100 years old. she came bawalking toward me. i got under her umbrella. i asked her if she could give one piece of advice to a large group of people, what would she say. she said when her husband was

dying, he said take the love you have for me and spread it article. i thought that was so beautiful. >> i want to hear for about your project. >> thank you so much. >> up next on the money a look at the news for the week ahead. and if you are ready to write the next chapter after you are done working, how to make a fresh start and do something you love.

. for more on our show, go to

our website otm.cnbc.com. on wednesday the federal budget for november is released. who will it be, time magazine announces it person of the year on wednesday. thursday the deadline for congress to pass a federal spending bill and avoid a government shut down. americans are living longer and many are working longer too, but that is not all. a growing group of older americans are pursuing something called an encore career. sharon epperson is here to talk about your money and your future. >> while money is important, it's not always everything. here's one woman's journey to redefining her retirement and add more meaning to her life.

>> this woman spent over 40 years in publishing before deciding to require in 2009. >> the publishing world was changing. it is becoming much more digitized. the focus was changing. it was just time for me to make a change. most of this shelf and this shelf are books that i worked on. >> the change she made was not a transition into a tradition ap retirement. i really didn't think i was done working. i had no idea what i was going to do, but i didn't think i was done. >> the skills she had as a publishing executive for transferable and that gave her confidence in finding a second act. an encore career. she applied for a fellowship that placed her at a nonprofit agency that helps find jobs for men and women who were incarcerated. nearly 20% of those 65 and older are still working in some capacity according to aarp. that figure has doubled since

1985. like her after successful career, many older americans are health care looking for meaningful work, not only a financial gain. >> if it becomes something like a passion where you feel you can stay in it for a longer haul that financially might make more sense. >> eventually her fellowship lead to more permanent work. >> it lead to director of organizational development. >> she became the new york program director of the entire encore organization, a position she continues in today. >> ploirs and society and communities are understanding the value that experienced professionals can bring across all kinds of businesses. >> and that's experience that can take a lifetime to obtain. >> well, sharon, i love that sto story. if someone is interested?

starting an encore career wrltd they begin. >> look at her program at encore.org. figure out what you want to do, what's your passion and what skills you have that may be different from the current industry you're in that can be transferred to another industry, another type of career. have that thoughtful process. >> thank you very much. >> my pleasure. >> thank you for joining me. my guest next week, chocolatier jacques torres on the sweet smell of success. i'll see you next weekend. stamps.com is the best. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no...

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>> narrator: in this episode of "american greed"... meet the organized-crime gang bent on bringing down the house. they are the tran family, one of america's most successful rings of casino-gambling cheaters, winning hand after hand. >> many times, $30,000 to $90,000 a day going out of this casino. >> narrator: they use one of the oldest tricks in the book... >> it looks as though the cards may have been mixed. the cards were not. >> narrator: ...with a high-tech twist. >> the person is speaking into a microphone that has been wrapped around their neck. and what that person's communicating is the order of cards. >> narrator: and at each casino they hit,