This is CBS. I on the world. I'm John Batchel. To Lancaster County, the best county in the Keystone State,

the best state, the home of Jim McTag in Lancaster County, watching the economy locally, watching the economy in America,

and expectations for 25. We begin with a banner headline in the Wall Street Journal.

Boy, oh boy, were they not expecting this one. U.S. hiring blew past expectations with

256,000 jobs added. Subhead downslide 700 points. Bond yields jump as strong gains, but further rate cuts in doubt.

That's about Jerome Powell and the idea that he's going to cut rates and make money cheaper for Wall Street.

Didn't happen.

In fact, America's working and working through the high interest rates we've had for the last two or three years.

Jim, a very good evening to you.

I begin with his jobs report because they're all wondering around looking surprised on Wall Street.

Where is that recession, Jim?

Can we make fun of them a little bit?

Good evening to you.

Good evening, John.

We can because the recession

won't happen until next year for reasons I can discuss later. But I tried to poke all kinds of

holes through this job report. And the best I could come up with is that when you make,

when you, when you concede that some of the hires were replacing people who retired, we added it at 200,000 jobs.

That's spectacular.

And a lot of the jobs were low-paying.

You know, they were low-paying service jobs.

They are unskilled workers, but nevertheless,

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