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The Lead with Jake Tapper

Biden touts 372K jobs added in U.S., yet inflation sits at 40-year high

The Lead with Jake Tapper

CNN

News

3.51.7K Ratings

🗓️ 8 July 2022

⏱️ 42 minutes

🧾️ Download transcript

Summary

After a better than expected June jobs report, we discuss why the good news presents a problem for inflation. Then, the shocking assassination of the former Prime Minister of Japan. The suspect appears to use a handmade gun in a country with very little gun violence. After, America’s national parks are disappearing faster than ever before due to flooding, fires, and drought. To learn more about how CNN protects listener privacy, visit cnn.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Some presidents would have done anything for numbers like these.

0:07.2

The lead starts right now.

0:09.6

A better than expected June jobs report, but why the good news presents a problem for inflation?

0:15.9

Then, a shocking assassination.

0:18.6

The former Prime Minister of Japan is murdered in the middle of a speech, the suspect using

0:23.3

what appears to be a hand-made gun in a country with very little gun violence.

0:29.1

Then, fires, flooding, and drought, America's national parks are disappearing faster than ever before.

0:40.8

Welcome to the lead. I'm Caitlin Collins.

0:42.6

In for Jake Tapper, we start today with the money lead.

0:45.8

Wall Street closing this hour, mostly flat after today's jobs report, exceeded expectations.

0:51.7

That's great news, obviously, but it's not slowing rising prices and fears of a recession.

0:57.1

According to the Bureau of Labor Statistics, the United States added 372,000 jobs in June,

1:03.4

and on average, American paychecks are up 5.1% in the last year.

1:08.1

But that's not keeping up with inflation, which jumped 8.6% annually in last month's report.

1:13.8

As MJ Lee reports, that's a problem for President Biden as he is struggling to convince Americans

1:19.0

his economic agenda is working.

1:22.2

My economic plan is moving this country in a better direction.

1:26.4

More signs on Friday of a robust U.S. labor market, the economy adding 372,000 jobs in June,

1:34.5

far-beating economist expectations, and the unemployment rate remaining at 3.6% near historic

1:41.1

lows. President Biden celebrating the news, saying the U.S. has now recovered all of the jobs

1:46.8

lost during the pandemic.

1:48.6

At a time when our critics said the economy was too weak or having already added more jobs,

...

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