Jobs report: U.S. economy gained 103,000 jobs in September

According to the jobs report released by the U.S. Bureau of Labor Statistics this morning, the U.S. economy gained 103,000 jobs in September, while the unemployment rate held steady at 9.1%.

Jay Powell, an economist who worked in the Treasury Department for the Bush administration, sells Christine Romans on American Morning today that this indicates that the country is not on the precipice of a double-dip recession.

In advance of the meeting between French President Sarkozy and German Prime Minister Merkel about the European economy this weekend, Powell also explains how concerned Americans should be about the European financial crisis.