future rate hikes. the strong number suggesting we have a long way to go to tamp down inflation. dana: nothing to dissuade president biden from more big spending. he unveiled his election budget, $6.8 trillion. bill: more of a campaign stunt than serious proposal. republicans call it dead on arrival. the president begs to differ. dana: team fox coverage an all list from james freeman at the wall street journal. edward lawrence has the latest on the job numbers. good morning. those jobs numbers beat expectations. unemployment rate went up to 3.6 pers percent mainly because more people became unemployed than moved into a job. the people who were unemployed lost a job or finished temporary work. wages in this report are still out pacing inflation. if you look at the wage it is 4.6% year-over-year. that means workers are actually making seeing their paycheck go less far than they did. cpi inflation at 6.4%. the federal reserve is watching the wage growth. higher means
following the headlines. natasha, first to you. this is a change from the white house. the white house is pushing back very hard on what it says is inf en inflammatory behavior by china. they said please don t up the ante here. now they re making public the fact that they have in fact summoned the chinese ambassador to the u.s. to the white house to essentially give him a dressing down about china s provocations against taiwan in recent days. they had said numerous times that they expected that china would have some kind of reaction to this visit by pelosi, which was extremely offensive to the chinese. but the white house has been, you know, kind of willing to respond in a meaningful way now to the chinese activities that we have seen around taiwan, which are really escalatory and are the most that we have seen in decades. so what the white house is saying now is that they re reiterating to the chinese that this is unacceptable, that the u.s. position on taiwan has not chan
Were lost prepandemic recovered from the pandemic. we saw the unemployment rate 3.5% today. the day before the pandemic was 3.6%. we re seeing lower numbers there. we re seeing people go back to work. in certain areas we re seeing education, local education numbers going higher, retail up, and manufacturing quite honestly is probably for me one of the most exciting biggest surprises we have because we have seen not just that industry recover since the pandemic, but we have seen that go beyond that and then now with the chips bill, the president will sign into law next week, we re going to have the opportunity to really create more opportunities for manufacturing in the united states, particularly around semiconductors. this report showed wage growth above 5%. inflation is also something the white house is watching very closely. do you look at this number and say, inflation is not abating. in fact, perhaps we re going to see some more bad numbers coming forward when it comes to inflat
In all likelihood. and who knows. i mean, what the next wave will bring us. but it does feel like the economy is finally breaking free, yep. so you hear the president talk about this is historic. leisure and hospitality up 151,000 jobs. professional svices up 86,000. retail up, transportation up. so you look across the economy and you see strength, mark zandy. the question is sustainability. we ve been through this roller coaster. a good month, bad month, two bad months and then a good month. the president is making the cases in the upward revisions to the end of last year give the numbers to support the case that funeral ly finally now on a growth track. it s important for americans wondering what s next in the economy and important for a president because we re in february of an election year. again, i think the interesting thing is, you know, the bureau of labor statistics, the folks that put this data together release a number and some months it s a big number. we get a million