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Economy Added 431,000 Jobs in March, Unemployment Dips to 3.6%; Ukraine Wants Western Security Guarantees Amid Negotiations with Russia; Psychological Impacts on Children of Ukraine, Talking to Children about War; Oscars Producer: I Thought Will Smith Slap Was "Part of the Bit". Aired 1:30-2p ET

Aired April 01, 2022 - 13:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[13:30:00]

ANA CABRERA, CNN HOST: New numbers out today show the job market is red hot. Employers added 431,000 jobs in March. And the unemployment rate is now at a pandemic-era low, 3.6 percent.

Here's the president earlier today.

(BEGIN VIDEO CLIP)

JOE BIDEN, PRESIDENT OF THE UNITED STATES: More and more Americans get jobs. As they do, it's going to help ease the supply pressures as we've seen.

That's good news for fighting inflation, it's good news for our economy, and it means that our economy has gone from being on the mend to being on the move.

(END VIDEO CLIP)

CABRERA: Joining us now is Justin Wolfers, professor of economics and public policy at the University of Michigan.

Good to see you. Happy Friday.

First, your reaction to the jobs report. Any surprises?

JUSTIN WOLFERS, PROFESSOR OF ECONOMICS AND PUBLIC POLICY, UNIVERSITY OF MICHIGAN: I mean, I think the president has it right. This was a very strong jobs report. Very good news.

The economy is almost caught back most of what we've lost during the pandemic, and it's still got a lot of momentum. So I think we're all feeling pretty good about that.

CABRERA: In fact, unemployment is just one point off the lowest level hit during the Trump administration at 3.5 percent. Hiring remains strong. Wage growth is on fire, although trailing still a little bit of inflation.

A lot of good news there. But some economists say recession warning lights are flashing. Do you think a recession is imminent? WOLFERS: Not only do I not see any recession warning lights but I

don't see even a glimmer on the horizon.

Look, we're creating jobs at a rate that normally we just call a boom. People are getting back to work. The unemployment rate is unbelievably low. Things are, one, getting better and, two, already good.

Let's enjoy the moment while we finally have it after two pretty tough years and put off the "R" word until later.

CABRERA: However, however, the average American is feeling the pain. Feeling the pain at the pump. Feeling the pain at the grocery store. Inflation is a real problem.

How do we get this under control? How do we get out of the inflation nightmare?

WOLFERS: Well, some part of this is what's going on in the supply side of the economy.

Look, everything changed in the economy during the pandemic. Everything from global shipping routes to where stuff is made. And it's taken a long time to just unsnarl everything that's going on.

So it's difficult to get dishwashers. Hard to buy a new car right now. But realize this is temporary. That's an economy healing.

And so much of the supply side pressures hopefully is going to alleviate over the next year.

CABRERA: Should the Fed be feeling the heat right now?

WOLFERS: Well, the rise in oil prices, which is why people are feeling pain at the pump, obviously, it comes from Russia and it's -- the war in Ukraine.

That's not something the Fed has caused. It's also not something the Fed can prevent. This is what's called a supply shock.

And so it's a good time to stand pat and just hope that these higher oil prices are eventually going to pass through the system and things are going to get back to normal.

CABRERA: You're the expert, so we hope you're right and it's just a temporary blip.

I want to ask about housing. We have new numbers showing year-to-year home prices rose 19.2 percent in January. That's a higher rate than in December. Those are the latest numbers we have.

Do you see signs of a potential housing bubble brewing?

WOLFERS: Well, the thing to realize is we have to put everything in the context of the pandemic. It changed everything, including the sorts of houses we want. So we're seeing an enormous run up in house prices because a lot more

people are working from home. A lot more people want more space at home. A lot more people want to be in the suburbs.

This is a difficult and wrenching adjustment. But it's a real adjustment. And one that's necessary for the way that people want to live their lives.

If we want to fix housing going forward, we'll have to make it easier for people to build new homes. And that's more of a medium objective.

CABRERA: I think the latest polling showed something like 71 percent of Americans worry about transportation costs and gas prices.

And there's still a big portion of the U.S. that is worried about the economy. Doesn't see it as, you know, glass half full. Seeing it as glass half empty.

What's your advice to people who are really hurting right now?

WOLFERS: Hold your breath and things, we hope, are going to get better.

The good news is, those of you, who haven't been back in the workforce, who have been worried, the pandemic is receding and the jobs are there for you.

Look forward. I think there's a pretty good chance you've got a pay raise coming up. If you don't, perhaps your spouse does.

And things like the pain at the pump, well, it depends on what's happening geopolitically.

But there's, again, more reason to be optimistic that prices are going to come down than go up even further.

CABRERA: Justin Wolfers, as always, thank you. Appreciate it.

WOLFERS: Thank you. My pleasure, Ana.

CABRERA: This is just such sad news. More than 150 children have been killed in this war in Ukraine. Their homes and schools, like this one, have been destroyed. Millions are now refugees.

[13:35:04]

Ahead, we'll ask a psychologist about the impact on the war's youngest victims. And how to help your children process what's going on.

(COMMERCIAL BREAK)

[13:40:03]

DON LEMON, CNN HOST: I'm Don Lemon, live in Lviv, Ukraine.

Breaking moments ago, the mayor of Bucha, a city near Kyiv, says Ukrainian forces have recaptured the town from Russian troops. We're following that.

And also this. Talks resuming between Russia and Ukraine. CNN is learning that the U.S. and its allies are mulling ways to offer Ukraine alternative security guarantees.

Those would happen if Ukraine vows not to join NATO in a potential concession to Russia. Ukraine's proposal? Well, it wants Western countries to promise protection if Russia attacks in the future.

Let's go to CNN's Natasha Bertrand. She has the details for us.

Natasha, a promise like that would make Ukraine almost a de facto NATO member, correct?

NATASHA BERTRAND, CNN WHITE HOUSE REPORTER: That's exactly the conundrum here Don, is how do you provide Ukraine with those security guarantees without getting right back into the initial problem of allowing Ukraine to become a member of NATO, which Russia said from the beginning is a no-go.

And I should mention the original problem of the U.S. and Western forces not wanting to put their troops in direct confrontation with Russia, which, if the Ukrainians want this kind of security guarantee, would be the implication here.

The U.S. has been speaking to the Ukrainians and allies about what kinds of promises that they could deliver to Ukraine.

Or some kind of pact they could offer to Ukraine to allow Ukraine to feel that it has some form of security here, if, in fact, the negotiations continue and they forgo NATO membership and they strike some sort of deal with the Russians.

But the Ukrainians are saying that anything short of a legally binding guarantee that Western countries like the U.S. and the U.K. will come to their defense, will put troops on the ground in their country if Russia does, in fact, invade again is not acceptable to them at this point.

They've said many times they do not want something akin to the Bucharest Memorandum, which is this treaty signed in 1994 that allowed -- that forced Ukraine to give up its nuclear weapons in exchange for protections from Western countries.

Of course, that was not legally binding. And Ukraine has said it left it in a weaker position and Russia in a stronger position. So they want something not only political but legally binding.

Of course, it remains to be seen what kind of agreement Russia would agree to at this point. But Ukraine is saying this is not something they can take for granted. It's obviously existential for them -- Don?

LEMON: Right on.

Thank you, Natasha Bertrand. Appreciate that.

Ana, back to you.

CABRERA: Don, I have to say, because I know you're signing off after this segment with me, it's been really nice having you there, being part of this show this week. We don't get to work together in this capacity very often. Thank you for your hard work.

LEMON: You have been very gracious. I know when it's your own show -- you have been very gracious -- sometimes people take ownership, what have you. But I've enjoyed working with you.

And more than anything, Ana -- and you can appreciate this -- enjoyed -- I've been enjoying telling the story of the people here in Ukraine and what they are dealing with.

They are amazing, an amazing group of people and the resilience is just -- I'm awestruck by it.

CABRERA: Yes.

LEMON: So thanks to you and thanks to the people here.

CABRERA: Agreed. That is the silver lining is just seeing the strength of humanity and how people are working together in many ways.

Thank you, Don.

Now the government in Kyiv reports at least 153 children have been killed since Russia invaded. And the U.N. estimates at least two million Ukrainian children are now refugees.

This is the devastating reality of living in a war zone. Here a child walks through the ruins of his community. Another on a playground next to a bombed apartment building. A birthday celebration in a bomb shelter.

Parents are doing their best for their children amid constant shelling.

And Theresa Betancourt is a professor at the Boston College of Social Work and director of the Research Program on Children and Adversity.

And, Theresa, thank you for taking some time with us.

The trauma, the heartbreak, the desperation. What's your biggest concern for these Ukrainian children?

THERESA BETANCOURT, PROFESSOR & GLOBAL PRACTICE DIRECTOR, RESEARCH PROGRAM ON CHILDREN AND ADVERSITY, BOSTON COLLEGE OF SOCIAL WORK: Thanks for having me, Ana.

So for children, certainly the biggest threats are direct threats through injury, death, loss of life. But also the indirect effects due to disruption of the fabric of day-to-day life as you just showed.

Separation and loss from loved ones, a loss of a sense of safety, routines, predictability, losing a sense of home, and losing a sense of advancing one's-self with their future, such as pursuing their education.

CABRERA: So what do they need, psychologically, emotionally? What do they need most right now to get through this?

BETANCOURT: So we've researched this topic of children affected by armed conflict for a long time. It goes back to early work in the evacuations of World War II and a book by Anna Freud and Dorothy Berlingham (ph) that really talked about the loss of attachment figures and parents.

[13:45:02]

And we know when young people have access to those fundamental attachment figures in their life, they can manage very frightening events. And we see that we know a lot about resilience.

It's useful to think about outcomes as a process rather than a trait of certain individuals. That certain individual factors matter -- age, gender, temperament, intelligence.

But also who is available to that child in terms of their parents around them, the mental health of parents, extended family, peer networks, teachers, coaches, religious figures to provide guidance and support as children go through life disruptions.

And we have to think about the larger political and economic context and how quickly children and families can return to some sense of normalcy and advancing themselves.

Through returning to their education, getting parents back in the driver's seat once they've experienced loss and displacement. How to support their family. Have jobs. Have housing.

And all of this really matters. We know, over time, a tremendous amount of evidence shows that we need family attachment relationships, social support and return to routines, predictability and relationships.

CABRERA: When you talk about how important that attachment piece is to help children get through this, it makes me even sadder to think about this interview that my colleague, John Berman, did with a mother the other day.

Who happened to be in Poland when this invasion started while her child was still in Ukraine. And at last check, she had been trying desperately to get to him but without success.

Take a listen.

(BEGIN VIDEO CLIP)

OLENA SIROTIUK, TRIED TO RESCUE SON FROM UKRAINE: He's got one thing on his mind. How I can go and get him. He's not thinking of anything else. I am trying to talk to him about other things but he's only got one thought on his mind so that I could come and get him.

(END VIDEO CLIP)

CABRERA: She says in every conversation that he keeps talking about, you know, when can you come and get me. And as a parent myself, it really breaks my heart.

Given all of your research and your expertise, what do you see in a scenario like that?

BETANCOURT: Sure. So as the boy separated from his mother, it's a painful experience for both of them. And it's really important, like you're seeing, that he stays in touch with his mother.

The people around him are providing him with a sense of reassurance that he's going to be safe. But also his mother is going to be safe. And everyone is doing everything they can to help them get back together as quickly as possible.

I'd also want to know who else is available to that child. We know that even when immediate attachment figures aren't available, others who have an ongoing supportive relationship with that child can really make a tremendous difference.

And as long as there are committed people in the lives of that child and also moving quickly towards reunification of the family, we know that they can really do well over time.

CABRERA: That's so nice to hear. We do know that that child was with other relatives at the very least.

Theresa Betancourt, I wish we had more time for this discussion. I appreciate your expertise and insights and perspective on this situation. Very difficult situation.

BETANCOURT: Thank you so much.

CABRERA: Chris Rock isn't saying much about that Will Smith attack, but an Oscars producer is. What he says went down behind the scenes.

(COMMERCIAL BREAK)

[13:52:32]

CABRERA: Welcome back. The lead producer of the Oscars is now breaking his silence about that moment Will Smith slapped Chris Rock.

Will Packer told "Good Morning, America" he thought it was all a comedy bit at first. Like a lot of us did. But that changed quickly.

(BEGIN VIDEO CLIP)

WILL PACKER, OSCARS PRODUCER: Once I saw Will yelling at the stage with such vitriol, my heart dropped. And I just remember thinking, oh, no. Oh, no, not like this.

(END VIDEO CLIP)

CABRERA: CNN's Camila Bernal is in Los Angeles.

Packer also described his conversations with Chris Rock right after the incident. Fill us in.

CAMILA BERNAL, CNN NATIONAL CORRESPONDENT: Hey, Ana. So, look, Packer is really giving us insight into what Chris Rock was thinking and really what he did right after this incident.

We know, as you heard there, that he was devastated. Pecker saying that his heart dropped. That the entire time that all of this was unfolding, his heart was in his stomach. That is what Chris Packer (sic) was saying.

And really he -- or Will Packer. And what he said is that after all of this happened, he had to wait until Chris Rock left the stage to really get confirmation.

He said he asked him, did you really get hit? And Chris Rock said, yes. And then joked about it and said, I just got punched by Mohammed Ali.

But after all of this, a very serious meeting and that involved the Los Angeles Police Department. They all got together in Packer's office.

And this is what Will Packer said happened in that meeting. Take a listen.

(BEGIN VIDEO CLIP)

WILL PACKER, OSCARS PRODUCER: The LAPD came and needed to talk to Chris. And so they came into my office and they were laying out very clearly what Chris's rights were.

And they were saying this is battery. We will go get him. We are prepared. We're prepared to get him right now. You could press charges. We could arrest him.

As they were talking, Chris was -- he was being very dismissive of those options.

(END VIDEO CLIP)

BERNAL: Now Packer said he was not part of conversations to physically remove Will Smith from this venue.

But did he say that once he heard that these were the conversations taking place, he went up to Academy leadership and that is when he expressed what he heard from Chris Rock.

Saying that, look, he just wanted to move on. Did not want to make a bad situation even worse.

[13:55:05]

And so he also said that that night he did not talk to Will Smith. But said that the next day he did apologize, that he was essentially embarrassed.

And just sad because this overshadowed the success of Will Packer and of many others -- Ana?

CABRERA: To hear how Chris Rock reacted behind the scenes is as impressive as it was on how he acted on camera.

Camila Bernal, thank you for that report.

That does it for me today. I wish you a wonderful weekend. And I'll see you back here on Monday. Until then, you can catch up with me on Twitter anytime, @AnaCabrera.

The news continues right after a quick break.

(COMMERCIAL BREAK)