Let's turn now to the economy and a disappointing new jobs report today showing employers cut 92,000 jobs in February.

The report also included downward revisions for the previous two months and a slight rise in the unemployment rate from 4.3 to 4.4%.

Altogether, it paints a picture of a labor market struggling across a number of sectors,

including some that were engines of recent growth, like health care and construction.

Stocks fell on the news, capping a week of declines, along with a rapid rise in oil and gas prices,

a result of President Trump's war with Iran.

The average price of a gallon of gas rose 11% this week.

To unpack today's numbers, we turn now to Diane Swank,

chief economist at KPMG, that's a tax and advisory firm.

Diane, good to see you.

So with the usual caveat, it's important not to overreact to one month of data.

The losses in today's report were widespread. What does all this tell

you about the economy? Well, part of the losses in health care, this was the one sector that

was really sort of the one-legged stool holding up the overall labor market. And we had a major

strike in California and Hawaii that shaves 27,000 health care

worker jobs off with some collateral damage as well in the unemployment rate with temporary layoffs.

So that was part of it. But even taking that out, it still is a lot of red ink. And when you lose

the one still holding you up, you go negative,

and the unemployment rate rises. There's been a lot of talk about employers having to navigate

uncertainty around shifting tariff policies. How big a factor is that uncertainty in all of this right now?

It really acts like a tax on the economy. There's just no question about it. We had escalating

uncertainty last year, and we're seeing it again this year. What's important about it is it's

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