The January jobs report–hiring surged, while unemployment fell–sent a spike through the markets on Friday, but CNN's Erin Burnett says there's a catch. "This is a really good jobs report," Burnett told CNN's Wolf Blitzer. "It's been five months in a row that we've seen the unemployment rate drop. That is very, very significant." But for a full economic recovery, expect the unemployment rate to rise. "At some point before it recovers, it actually needs to go up again."
As Burnett explains, the jobs report only includes Americans who have been actively searching for a job in the last month–but there are many more who've quit looking out of frustration. "There's several million people who are truly disenfranchised," says Burnett. As the labor market improves, those people will start looking again–and that will cause the unemployment numbers to pop up. "Even though it's going down now, at some point...it actually needs to go up."
Bill Gross, the founder and co-CIO of PIMCO, tells CNN's Erin Burnett the best Republican candidate on the key issue of fixing the American economy isn't frontrunner Mitt Romney, but Ron Paul.
The group of twelve Democrats and Republicans charged with making at least 1.2 trillion dollars in cuts from the nation's deficit have just days to strike a deal–but show few signs of compromise. On OutFront, Erin Burnett again asked the Super Committee members if they want to be national heroes–or eunuchs. The downside of failing to reach a deal, Burnett reports, is severe.
Will the NBA have a season this year? NBA commissioner David Stern sounds firm about the differences between owners and players in an interview with CNN's Erin Burnett. "We would not lose a season over any one little thing," Stern said. "But we have some very large issues that separate us."
We need to reset our business model which not only gives our teams an opportunity to be profitable, not mandated but an opportunity, and– and allows them to revenue share, because as the union has made, I think, clear and I agree with them, we need a more robust revenue sharing plan. So you can't share revenue or it makes no sense to share revenue, if you're losing money."
What will it take to get American companies hiring again? CNN's Erin Burnett talks to Cisco CEO John Chambers, who says he's optimistic about the economy. "Not great guns, but perhaps better than some people anticipate," Chambers said on CNN's Erin Burnett OutFront.