welcome to cnn newsroom. and good to be with you. the last jobs report before election day topped economies east estimates 261,000 new jobs were added in october, a number president biden will likely tout when he speaks this hour. the commit remains the number one issue for voters this election and the white house is hoping to capitalize on this stronger report. democrats are facing headwinds with four days left before the polls close on november 8. and who controls congress will be determined. the latest count shows more than 34 million americans across 47 states have already cast their ballots. and let let s go to matt ega the new numbers. it was a pretty mixed report. the federal reserve is trying to cool off the jobs market to get inflation under control. but the jobs market is not exactly cooperating. there were some signs of cooling. you mentioned the unemployment rate goes up and the pay ral gr payroll growth was slowest since 2020. and wage gains have slowed
They ve had success in unsnarling supply chains, which more investment is on the way from the bipartisan infrastructure laws you played a big part in, but it s really not enough and the white house is seriously looking at canceling student debt, but there s concern from some people that that could have inflationary impact. the committee for responsible budget calculated that for giving 10,000 per borrower could cost as much as universal pre-k or the full expansion of the ada subsidies. are you worried that while it s good politically, everyone wants to cancel student debt and not pay, would it hurt democrat s ability to pass pieces of the biden agenda because of the inflation concerns and you hear from joe manchin? we need to focus on college affordability and when people negotiate interest rates for their homes they should for their student debt.
Team was talking to me this morning about that buildup, and they thought they saw, again we re going to have to see another few quarters to make sure that this is in train, they thought they saw some improvements there in the supply chain. basically you don t get an inventory buildup adding almost 5 percentage points to gdp if your supply chains are as jammed up as they have been. and we have a bunch of data from our supply chain team showing that in fact things have been moving through the ports a lot more quickly. dwell time, if i may get particularly granular, the amount of time that containers are spending in ports, it s down 60% over the past few months. goods are moving from ship to shelf. we saw that in the holiday season, and that inventory is actually a potentially positive indicator of some unsnarling of those chains. all right. jared, i appreciate your time. thank you so much. thank you. and next, a former top white house aide testifies before the
Prism? and is there anything more that could be done for regular working people? well, to a large extent, i mean, obviously the inflation is a problem. although it is worth pointing out that we are seeing rising wages, which on average are not keeping up with inflation right now. but the wage increases have been much bigger for people lower down the pay scale. it actually depends on whose numbers you use exactly. but basically the bottom half of the work force is doing a lot better relative to inflation than the top half. it s the highly paid who really are seeing a big lag behind prices, which is not to say that it s all okay. and even lower paid workers are feeling some pain. but most of that is due to things that are really outside gasoline prices are not something that a u.s. president controls. world oil prices, world commodity prices. you have the whole world recovering from the pandemic and is having a hard time, you know, unsnarling things. we have the supply chain
Almost beat harry truman in 1948. just like the empty speeches are working for mitt rom nay as he closed the gap on the president. watch the comparison. let s start with free enterprise. americans have come to pass under our free system of productive enterprise. not just because i love job creators. it s because i love jobs. the only way to win the peace is to provide strength. american strength is essentially for our kids, for us, and for the world. the only thing they re afraid of is strength greater than his. i have the force to communicate our strength. there will begin in washington the biggest unraveling, unsnarling, untangling operation in our nation s history. we got to have people who stop thinking of themselves of just republicans and democrats and think of themselves as americans.