Everybody needs money. That's why they call it money.

From full global headquarters, this is Motley Fool Money.

It's a Motley Fool Money radio show. I'm Chris Hill joining me this week's senior analyst, Jason Moser.

And Ron grows good to see you as always gentlemen.

Hey, Chris.

We got the latest headlines from Wall Street. We've got a conversation with five or C.E.L. Meek of Kaufman.

And as always, we've got a couple of stocks on our radar.

But we begin this week with the big macro. The U.S. economy added 943,000 new jobs in July.

The reports from May and June were revised to add an additional 119,000 jobs.

And the unemployment rate, Ron, falls from 5.9% to 5.4%.

That is a big drop for a single month.

Not too shabby. Too strong months in a row.

I think this is really positive. Job gains, perhaps not surprisingly, were strongest in leisure and hospitality as people get back to work.

And in 380,000 positions, 253,000 of those came in bars and restaurants.

Again, people coming back to work where they're badly needed.

Those industries have been really labor constrained for a while.

Next was government jobs, then professional and business services.

The wider unemployment metric that we sometimes talk about known as U6,

that fell pretty sharply to 9.2% from 9.8%.

Fed is targeting 4.5% for the general unemployment rate.

As you said, we're at 5.4% now.

I think the Fed believes we're on target for something in the mid-4s next year.

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