joining us to talk about it, former chief economist jared bernstein and elaine chow. this is a pretty good report, didn't you think? >> i think we're always glad when there's positive job growth and creation numbers. what is really distressing is that, number one, the unemployment rate ticked upward from 7.2% to 7.3%. and the labor participation rate dropped .4%. this means that conditions are still softer than what we would like and that a lot of workers are still very discouraged and they've left the workforce. >> but, you know, let me make one point. i know a lot of republicans are making the point you made, the participation rate. you are factually absolutely right. let me go to jared on this. jared, i'm going to defend the numbers because the participation rate comes out of the household survey. and the household survey counted

jared bernstein, thank you. elaine chao, thank you. >>> coming up, president obama's non-apology apology. the pink slip insurance cancellations are growing larger every day. and the question is, what's the president to do about this catastrophic obama care problem? we'll discuss it with our free market friday panel. >>> but first up, the dow rallying to an all-time high. gold tanks. perfect pro-growth signal. nonetheless, unemployment still high. the inflation rate virtually nil. i expect the empress of doves will not slow down bond-buying purchases for many months to come. don't worry about the federal reserve. and the best path to prosperity is through free market capitalism. let's get those businesses cranking up. the more they invest, the more jobs we'll create. i'm kudlow. we'll be right back. my mantra? family first. but with less energy, moodiness, and a low sex drive, i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron. the only underarm low t treatment that can

here to explain and bring that home to us is jared bernstein, senior fellow at the center on budget andpriorities. jared, can you give us a short explanation for deflation because it's something that has frightened economists here in the u.s. immediately after the financial collapse and it's certainly frightening people in europe today. >> well, it should. it's quite a frightening phenomena although it doesn't sound that bad when you say it this way. deflation means declining prices. some people might think that sounds pretty good. that means i'll have to pay less for stuff. from a macroeconomic perspective, from the perspective of the overall economy, growth, jobs, gdp, deflation is a symptom that your economy is growing too slowly. exhibit one would be europe where recession has been the norm for the past couple wers. >> couple of years, jared. we're talking about five years. we're talking about a continent that has employed virtually the ryan budget word for word. >> right. >> we have seen repeat double dip, in some cases triple dip recessions, and now the fear of deflation. >> that'

joining us now is joy reid, his managing editor of thegrio.com, and jared bernstein, senior fellow onget of priorities. and just looking at his shoes. thank you. thank you for joining us. joy, the president talked about one side of capitol hill today being invested in failure. and in listening to what republicans have been saying repeatedly since this rollout, there is a nonstop celebration of problem that seems almost anti-american. >> you know, and martin, beg your indulgence. as i was thinking about coming and talking to you about this, i grabbed my insurance card. >> thank you. >> i have this. because i have a job. and if you have a job, you're lucky enough to not have to worry about having a catastrophic illness and not being able to be treated, because your job is covering so much of the percentage of your health -- >> will this cover your two children? >> this covers my kids, when my husband was freelancing, it covered all of us. and when my husband was working full time and i was freelancing, his insurance covered me and the kids. having this means never having to worry about

should it be raised from $7.25 joining me now is jared bernstein and former bureau of labor statisticsith hall. thanks for being here. >> sure. >> happy to be here. >> walmart claims it was intended for a few associates experiencing hardships. do you think people are using this for their cause or does this prove the company is not paying employees enough? >> it's probably both of those are true. these things tend to be used nor cause. recently mcdonald's released a suggested family budget for their employees and it became a big story many the same way because it assumed the ridiculous amount of work at very low wages. when you have one group of low wage workers fprovidingç food other low wage workers it strikes people for a good reason. the president, to his credit, has suggested an increase in minimum wage would help. >> five states have enacted minimum wage hike and there's a bill to raise the federal level from $10.10. does raising it lead to fewer jobs or higher unemployment? >> there are dozens of studies on the effects of minimum wage. this has been done for decades now. if you

joining me now are two economists, who just wrote a book about this, msnbc contributor, jared bernstein, former chief economist policy adviser to vice president biden, and baker, they have co-written, getting back to full employment, a better bargain for working people. are you amazed, jared bernstein, as someone who worked in the white house, who's a creature of washington in many ways, you've been around that town a while, are you amazed at the shocking disconnect between the urgency all of washington, both parties, particularly the republican party, but both parties show towards the gap, the unemployment rate, the jobs deficit, the disconnect between the issue in the country and the response in washington? >> you know, i probably should be shocked, but i'm a little bit inured to it. it's been going on for such a long time. i think what you have to conclude is that there are far too many policy makers up here who really, a, don't think that much, about the problems that you just outlined. i mean, you've just shown, i think, pretty compelling evidence that the kind of rising star of th

joining us live is jared bernstein, former chief economist for vice president joe biden and he's now an msnbc contributor. so the markets not taking that negatively. also, jared, there were revised figures that we saw from previous months, an additional 60,000 jobs. when you look at the report right now, what does it tell you? >> well, one thing it tells you is that the underlying american economy is a lot more resilient than people realize. i think we're not out of the woods by a long shot, whether we're talking about yesterday's upside surprise on the gdp report or today's upside tick on the jobs numbers. in other words, even with these better-than-expected results and the revisions, things are moving too slowly to knock that unemployment rate down quickly. on the other hand, we've thrown a lot at this economy, including most recently a government shutdown, and we're still creating jobs in the private sector for the most part. >> you know, there were big gains in retail, yet we did see a step back in federal government jobs. very small comparatively here. you add that on to what you

joining me now are maria teresa kumar and jared bernstein. thanks for coming on the show. >> thank you. >> jared, how can republicans justify hurting the economy while also hurting americans who need the help the most? >> well, it's a great question. and i think that the justification tends to be if we take away food stamps, s.n.a.p., or any other benefit that's helping people get by in this tough economy, unemployment insurance is another area they've been going after. we're going to somehow give these people the incentive they lack to get out there and work harder. and it's incredibly ironic when you consider that the economy while clearly recovering, clearly getting better is still quite tough from the perspective of folks saying the bottom half of the income scale. what we've seen time and time and what we've seen when the market is tight, if there are good jobs available to people, they will go into the job market and they will get them. don't tell me somebody is kicking back not trying to work so they can stay on these programs. it just

so to help me break it down, jared bernstein, adele stand and jonathan cone. thanks to you all. >> thank you. >> jared, i'll start with you. waiting all this week for this. >> must have been a slow week. >> there was a front page story in "wall street journal" this week titled aides debated obama promise. what struck me, being the communications person in those kinds of persons when the policy people are making their arguments is that clearly there was conversation about both what the policy should be and what the best way to talk about the policy would be. >> that's exactly right. and i forgot that you had that background so i understand your insights there. in trying to explain a pretty complicated and nuanced program to the american people, there was a shortcut here. the idea being that as you said 95% of the population or i should say of the insured population gets the coverage through the employer or the government and those folks can keep it under obama care. it's also noteworthy and this was discussed at the time that if your plan was on the individual market, one of these

jared bernstein and peter, thank you very much. president obama's apology and kathleen see breel yus trying to make things go right in georgia, preparing this heart of glass we got. in the nation, sometimes bad things happen. add brand new belongings from nationwide insurance and we'll replace stolen or destroyed items with brand-new versions. we put members first. join the nation. ♪ nationwide is on your side ♪ to severe plaque psoriasis... the frustration... covering up. so i talked with my doctor. he prescribed enbrel. enbrel is clinically proven to provide clearer skin. many people saw 75% clearance in 3 months. and enbrel helped keep skin clearer at 6 months. [ male announcer ] enbrel may lower your ability to fight infections. serious, sometimes fatal, events including infections, tuberculosis, lymphoma, other cancers, nervous system and blood disorders, and allergic reactions have occurred. before starting enbrel, your doctor should test you for tuberculosis and discuss whether you've been to a region where certain fungal in

jared bernstein is a former member of president obama's team and a cnbc contributor. good to see you. so, rick, if these sffees are n paid, do premiums go up. >> did you ask that of me? >> yes, rick. >> if these fees are not paid, the rest of the people who are in the pool, this is a pool of $25 billion are obviously going to have to pay more and they're going to have to subsidize the unions that are going to get pulled out of these plans. make no mistake about it, most of the people who would be affected by this are people in the taft/hartley plans, i heard the comment about state and local universities. this is mostly unions. if you want to think about unions, think of construction unions. this is where most of the impact is. >> jared, come on, this feels like politics. there's pay back, helping out some contributors. why extemperature these unions in this case? >> i certainly agree that it feels like politics. let me correct, though, a misimpression. the vast majority of these unions or taft/hartly plans, especially the construction ones rick just mentioned, are no

. >> and joining us to discuss this is jared bernstein, senior fellow at the center of budget and prioritieson, associate professor at lehigh university. both msnbc contributors. jerryd, i'll start with you. as an economist, is there a coherent argument against raising the minimum wage? >> well, there is a coherent argument. it's just not an empirically sound argument. and in fact, it's been proved wrong many times over. the coherent argument is the one you've heard recently from john boehner. he goes around saying, we can't raise the minimum wage, because guess what, when you raise the price of something, people buy less of it. and frankly, that is quite coherent and basic econ 101. but if you actually look at the history of the minimum wage and it's been in place since 1938, many states have their own minimum wage values higher than the federal level. we have been able to do a ton of research on this. and we find out that, in fact, there are many other ways in which increases in the minimum wage get absorbed into our economy, such that the net benefits to the workers, as you mentioned, suc

jared bernstein -- >> a flip of qe at the moment. >> right. >> dana, if the walmart report indicatesill be higher going into christmas, it's going to have to impact some of the competitors. so who would you single out as probably not very happy today of companies' stocks of walmart seeing more promotional? >> if walmart will be that much more promotional, it will impact target. you have to think about kohl's. also the dollar stores, whether it's dollar general or dollar tree. anyone competing at the low-end price point in strip centers, they'll have a big competitor if they're going to price aggressively. >> it's like target has indicated slightly lower, but not a lot. >> they'll have to match if they come out aggressively. >> by the way, dana, i don't -- i don't know if you saw last week, jcpenney, it's like circulars everywhere. it's, like, "back to the future" all over again. do they look at this? is walmart considered a competitor to jcpenney? >> they're all considered a little bit of a competitor. i do think of walmart as lower end than what jcpenney s but jcpenney's price point