The Wall Street Journal’s Sudeep Reddy and Bloomberg Government’s Nela Richardson join Kai to talk about the new jobs report — and it’s making Reddy sad:

“We’ve seen so much excitement about what could have been a stronger recovery in 2104. We had all of these expectations of stronger economic growth, consumers going out and spending more, busiensses finally putting all that cash to good use. And what we’re seeing is the labor market that we’ve had for the last 3 or 4 years, and perhaps even worse than what we’ve had for the last 3 or 4 years. And it’s possible that this could just be a blip, but it doesn’t give us that upturn, that big, excitnig move forward that we’ve all been waiting for. ” Sudeep Reddy 

To the question, “Is it just a blip?” Richardson says:

“I have to answer that with a question: What is it called when you keep doing the same thing over and over again, and expecting a different result? I think that’s what this economy is doing.”

And later — 

“If the second half of 2014 was more of a fluke than real, there is a possibility Janet Yellen could do something come March.”