i want to bring any jason furman. ind the numbers and are we to believe these numbers are sustainable? >> we're seeing aen economy that is strengthening and strengthening at an increasingly rapid rate. the decline in the unemployment rate is nearly the fastest pace we've seen in 30 years. a year ago, people didn't think we would see an unemployment rate with a 5 in front of it until 2017. i didn't think i would see it in this administration. but it's here. it's here now. and, you know, it's because the private sector is really generating a lot of job growth. the government is not getting in the way with the type of fiscal uncertainty and fiscal contractions that were holding back the economy before. >> there does still seem to be a bit of a distinguish. despite the good jobs numbers. good job numbers all year. the nbc wall street journal poll show that 53% disapproval of president obama's handling of the economy. >> i'm not an expert in polls. when i look at measures of consumer sentiment they're about as strong as the

i asked jason furman about that. nothing has been passing in recent months. democrats in control of the senate. what prospect is there for some of these and and -- these initiatives? he mentioned specifically tax reform, business tax reform. there is an opportunity, shared ideas that both sides can agree on. so many details stand in the way. will be a heavy lift. that is one area he mentioned specifically. >> peter, stand by. we will speak to you shortly. the former governor is a professor of economics at the university of chicago's school of business and he joins us live. professor, welcome. thank you for your time today. >> great to be here. >> president obama is expected to point out the united states is showing more economic progress than other nations. that message not seem to be resonating with americans on main street? true we are showing some progress. i think the reason is the unemployment rate is not showing the full amount of stress american workers are feeling. 6.1% is not that high. if you look at broader measures of unemployment, jenny allen and

jason furman, chairman of the president's council with economic advisors. great to have you back.elcome. >> good to be here. >> it's a good number. the market likes it. a lot of reasons to be encouraged. what do you make about the lack of any evidence that wages are on the rise? >> first of all, i want to take a moment on the fact that, if you asked me, i wasn't sure we would ever see an unemployment rate with a 5 in front of it during the obama administration. you look last year, most forecasters were saying we had to wait till 2017 to see this. this unemployment coming down at nearly the fastest pace in 30 years is really good news. there is still a challenge translating those gains for people. wages are that biggest challenge. they bounce around from month to month over the last year for production in nonsupervisory. it's grown more quickly than the year before that and more quickly than the year before that. you are seeing a trend affirming wages we need more wage growth, no doubt about it. >> services, obviously, making up the lion's share of the jobs created. manufacturing r

i am so honored today to invite jason furman who has conducted a wide range of research said he is a person who can and set the stage today. >> good morning. >> thanks so much. >> thanks for that introduction and for putting cities at the heart of our discussion with the economic recovery and economic future. with the united states economy with around the world we see trouble in many countries around the world in the united states we have 55 months of st. job growth. and is falling at the fastest rate in 30 years. and the growth rate is picking up. at the same time we see wage growth that is just above inflation but not enough to make up. is this so long lasting impact than the growth of just guarded to pick up in strengthen? and that is our nation's cities. and as to why this recovery was different from others? what you hear is growing out of a financial crisis is more difficult than ordinary recession because households leverage up businesses and it is a long and painful process. surely there is part of it that with our analysis the single biggest factor that differentiates from th

at a forum to discuss the findings, white house counsel of economic advisors chair jason furman offeredederal perspective. he was joined by local leader who are their own fiscal outlooks. this is an hour and ten minutes. >>> cities are the economic engine of america. with over 80% of americans living in cities, it is clear that the economy of cities drives the economy of our nation of america. again, cities are the economic engine of america. so if cities are prospering, are so does america prosper. like new york, los angeles, respectively represent the second and sixth largest growth domestic product in america, economy represents jobs, it represents opportunities, it represents talent, and it represents tourism and it represents america. that is why the national league of cities which represents 19 thought cities and towns in america knows that the economy is one of the most important elements of a community. good morning. i'm cleanser anthony, chief executive officer and executive director of the national league of cities. i'm excited to welcome you to the launch event for the city f

but first i'm proud to introduce a special guest and special friend jason furman chairman of the whites. prior to his old chairman of economic advisers he served as assistant to the president for economic policy and principal deputy director of the national council. great. from 2007 to 2008, furman is a senior fellow at the hamilton project at the brookings institute. furman is was the policy adviser for obama for america. he earned his phd in economics and government at harvard university and economics as well as ms in economics from the london school of economics. i am so honored today to invite mr. furman here, and he's come to a wide range of research said he is the person who can set the stage for the dialogue today. >> good morning, welcome. >> thank you so much for that introduction and for really putting the cities at the heart of our discussion about the u.s. economy, its economic recovery, and its economic future. we are at a moment right now when the united states economy is the envy of many around the world. while you see trouble in many countries around the world come in t

jason furman and of course, you can watch the president's beach as well.is usually about 25 minutes late. that will be streaming on bloomberg tv plus on your tablet . you can watch us on any device because it is 2014. coming up, the magazine focuses on one of the area's largest towns. connecticut. stay with us. ♪ >> stocks falling more. this is a today, the dow down more than 2%. falling 100 points again today. s&p also in the last two days. s&p, by the way, headed for its first cluster day decline of the entire year. as depressing as it sounds, we are almost at the end of this year. the european market close looks even bloodier than the trade at the close, remember these stocks are closed now, down 2%. the 40 closing down 2.8%. investors were not impressed with what they heard from mario draghi. buying asset-backed securities and a number of other assets, but maybe not enough here they do not think that will be enough to revive the economy. now the economy is doing fine in certain parts of the country, including connecticut. forget mass media, when the av

jason furman will join us. that's changing faster than ever, we believe outshining the competition tomorrow quires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern. (receptionist) gunderman group is growing. getting in a groove. growth is gratifying. goal is to grow. gotta get greater growth. i just talked to ups. they got expert advise, special discounts, new tec