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What April's jobs report says about economy

The Bureau of Labor Statistics on Friday reported a better-than-expected jobs report for April. CBS News MoneyWatch correspondent Kelly O'Grady breaks down the numbers.
May 8 (02:57)

TRANSCRIPT FOR: “WHAT APRIL'S JOBS REPORT SAYS ABOUT STATE OF ECONOMY”

KELLY O'GRADY:
00:02:22

Yeah. So basically, we track consumer sentiment because if consumers don't feel good because of what's happening with the war in Iran and whatever else may be frustrating them, they might go out and spend less. This is where we might see companies pull back from their hiring. We just haven't seen it yet. And that's where my focus will be, in terms of whether the war with Iran does impact companies. Yeah, maybe on the cost side, with energy prices, but it's really going to be whether consumers start spending less.

REPORTER:
00:02:49

All right. We will stay tuned. Kelly O'Grady, thanks for navigating all that noise for us. We appreciate your insights and reporting.

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