data on weekly jobless claims and consumer prices all set to be released. also on inflation watch, the national average for a gallon of regular gasoline fell another penny overnight sitting at $3.40 a gallon. all right. november s jobs report was strong but economists worry the fed may take it as a signal to raise rates and continue with sharp rate increases and worry about a recession next year. i want to bring in the chief economist at adp. good morning. good news might be bad news in the jobs market. listen to the fed chief last week. the labor market is incredibly strong. it s too great in a way because it s going to be adding to inflation. he said that even before that friday jobs report, which was robust, 3.7% unemployment rate, you know, job growth slowing but still quite strong historically. what do you make of it?
that people have been very happy to see lately? reporter: yeah, chris, good morning. there s a few factors at play here. people when they show up at the pump and they see $3.30, they re surprised. that s not bad. here s the deal, there s a couple things going on. opec+ has agreed to cut 2 million barrels per day, 2% of global demand. it would raise prices. part b, you have a european ban which would affect how much countries pays for russia oil. if russia chooses to retaliate, that portends higher prices at the pump. reporter: it s hard to find a single staple of the american economy that impacts our pocket books more than gas prices. which is why when they fall, it provides a noticeable lift for families. big difference. reporter: and falling they are. the national average this morning $3.40 a gallon.
in the final hours, understanding the gravity that even though these voters in georgia broke records in terms offerfer early voting, he said l your mom and dad and everybody we need to vote and if you didn t vote, get out there. there was a lot of enthusiasm but he s connecting his fight and on going fight for health care in georgia to their fight for families and communities. appreciate it. good news for consumers hit hard by inflation. gas prices are falling and fast. today the average price for a gallon of regular unleaded is 3.40 down 40 cents in the last month, more than a dollar and a half since last june. in eight states a gallon already costs less than $3. gas buddy says the national average could get below $3 a gallon before christmas. if you haven t updated your driver s license to a real id
either shipping russian oil or insuring russian oil. if they pay more than that. if they pay more than that. but the issue here though is how would they enforce that, right? could russia falsify documents? could russia try to move the oil directly themselves? that could be the ways to get around it but in principle they hope to limit rush because of the actions. what does it mean for the oil worldwide. it is going down. $3.40 as a national average and that price could fall below $3 at the pump in the united states by christmas. which would be a welcome surprise but we have to remember if russia decides to retaliate these actions, by cutting oil entirely to the rest of the world, that could offline a lot of supply and make oil go even higher. we will be watching, thank you very much. and that is going to do it for me today. hallie jackson picks up our coverage next. picks up our coverage next. e up to 50% off. bedroom furniture up to 30% off. and décor up to 50% off. plus g
and relatively cheap food, you can see the appeal. julie has worked in this store for more than 20 years. those two there are regulars. he is a regular. but there has been a big change in recent weeks. it is notjust pensioners coming in forfood or a cuppa. around about 3.30, 3.40, we have a mad rush with the mums coming in with kids. morrisons dished up 70,000 children s meals over the october half term. they also gave free meals that month to anyone who said a special codeword. as a customer, you could come into morrisons cafe and, at the till, ask for henry, so very discreet. and colleagues would serve you a jacket potato and beans for free. because they could do it discreetly, they felt like they could come and eat out, effectively, in a nice environment, and kind of remove the stigma around taking the meal for free. back in walsall, things are hotting up nicely. hello. it smells delicious. well, well, well.