that s the number of jobs the u.s. economy added in october. today s blockbuster jobs report overwhelmingly beating expectations. yeah, at many, many levels even beyond the top line. the unemployment rate a separate measurements sits at 5% as low as it s been since before the big recession back in 2008. cnn chief business correspondent christine romans is here and cnn s global economic analyst john bruhart joins us, hard for me to say but not hard to digest the numbers. because they are awesome. let me show you the trajectory, 271,000 net new jobs. look at the trajectory, guys, because that s the best job creation all year and the white house points out in its analysis of all of this, this is the best three years three years for job creation since the year 2000. the unemployment rate also very, very important here, it sits at 5% the lowest since 2008 and when i look at things like the underemployment rate, the u-6
and that s going to be a very exciting part in the second half of the program. what do you think is on the mind of folks there in cleveland? what do you think in that q and a session they ll be asking the president? we have a highly engaged audience who really they pay a lot of attention and boy have they been paying attention over the last four or five days since we announced this on friday. and, you know i think that the economy is huge here. it s a really big issue. cleveland was out of the recession slower than most other regions and cleveland was in the recession. you know there was a recession back in 2001 that cleveland really never came out of. where the president is speaking today is the same virtually the same location that he spoke in 2008 just before he was elected on that sunday evening. and in the intervening years there s a brand-new convention
newt gingrich is run out of town. they don t care about the scandals that are playing out. i think the irs thing really bothers them because that gets to the heart and soul of probably the most regulatory body in this country and its ability to kind of manipulate politics. i think that is a very dangerous trend and where it goes, it s hard to know. but i think that s a frightening prospect. beyond that, ben ghazi, bad as it is and the call for impeachment, tht no, sir what the american people are going to vote on. they will vote on whether or not this country is able to get back on its feet. that s what they want to hear about. you look at another headline today. people still haven t recovered half of what they lost. that s right. when we went into a recession back in 2008. we have a whole generation of young people in this country who
here in the states is the expiration of tax cuts that are written into law right now as well as the implementation of automatic spending cuts. if these two kick in, according to the current law at the end of the year, many economists argue that we could fall into a recession back in 2013 with a fiscal hit of as much as $700 billion coming down on us at the end of this year. it s not to be worried about this because there s time for congress to come to some sort of agreement. now we just have to wait and hope that congress comes to some sort of agreement about this. we hope. how about this? linked in is telling people to change their passwords. has what s going on there? linked in and e-harmony were the targets of what s believed to be a phishing scam. with linked in, 150 million users around the world, about 4% of those users. 6.5 million people, were the targets of this hack. they had their passwords stolen.
and remember the chamber of commerce and small business, even wall street, have viewed the obama administration as not in touch with what the needs of business are. business needs, in the environment. and, the administration has been making an effort in recent days to really try to improve relations. not only with business in general but the chamber specifically. gregg: and in fact that was the subject of an op-ed, by mitt romney, in usa today, i believe it was. let me throw a portion of it up on the screen from yesterday. president obama didn t cause the recession but made it worse. and caused it to last longer. from the outset he inaugurated the most anti-investment, anti-business, anti-job policy we have seen since jimmy carter. whenever you mention jimmy carter s name, it is never no, no, in this environment you are exactly right. what you are talking about here, there was a recession back in the 1970s and when ronald reagan came the idea was, finally we ll get someone who is