Jobs Tuesday: NEC Director Hassett on Employment Report, the Fed and AI 12/16/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 16 December 2025

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber led off the show with market reaction to employment data that had been delayed due to the government shutdown. Job creation in November was stronger than expected, but the unemployment rate rose last month to 4.6%— and October payrolls showed a shedding of jobs. National Economic Council Director Kevin Hassett joined the program with White House reaction to the data. He and the anchors also discussed Hassett in the running to become Fed chair, Fed rate policy and inflation, growth prospects for 2026 and the AI boom. Also in focus: Ford's $19.5 billion hit and EV pullback, Pfizer full-year guidance disappoints, the AI trade and a flashback with CoreWeave's CEO, Comcast update. Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC upon Comcast’s planned spinoff of Versant. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here.
0:01.3	You're listening to the opening bell of CBC Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:14.2	Good Tuesday morning.
0:15.3	Welcome to Squawk on the Street.
0:16.4	I'm Carl Kintanio with Jim Kramer, David Faber,
0:18.3	post-9 of the New York Stock Exchange.
0:20.0	Playing some catch-up with the jobs dated today.
0:22.0	October jobs down 105K, but November is a slide beat, up 64K.
0:28.2	Unemployment, though, rises to 4-6.
0:30.1	That's a fresh four-year high, 10-year pretty steady around 418.
0:34.2	Our roadmap begins with this delayed November employment jobs number, topping expectations.
0:38.3	As we said, 64,000 jobs last month. National Economic Council Chair, Kevin Hassett, will join us first on CNBC in a few moments with his reaction and, of course, the race for the next Fed Chief.
0:50.3	Plus Ford is going to record almost $20 billion in special charges. This as it pulls back from a lot of its
0:56.7	plans to expand its manufacturing of EVs. The stock is higher in the pre-market. Speaking of automakers,
1:03.3	Tesla shares hitting what is the highest level they've seen all year. And that, of course, is fueling Elon Musk's wealth,
1:12.1	now measured it over $600 billion dollars that's never been seen in the four billion year
1:18.2	history of earth I don't know going with it let's begin though with market reaction
1:26.2	to the delayed jobs data, Jim. Once again,
1:28.3	it's basically education and health services that are doing the lines share of the work.
1:33.6	Yeah, we don't want that. That's the old days. I wish there'd be more manufacturing. I honestly
1:37.7	think I'll owe the interesting piece today about Michael Inchrader. Yes. In which you were
	...

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