i've ever owned. love 'em to death. ashley, you've got two but not collies, i think. ashley: two. cocker spaniels. baxter and gracie, very spoiled and i love them. and there they are. isn't that cute? baxter with his tongue sticking out. [laughter] stuart: he's a good man. i love my dogs, i really do. and our viewers do too. time's up for me, neil, it's yours. neil: hope you guys have a great weekend, my friends. we are waiting for the president of the united states moments away we're going to hear him talk about where things stand right now. no doubt seizing on the jobs data today that shows the continuing trend where more jobs are being picked up, but not nearly what people thought we would see. ahead of the president, i do want to go quickly to blake burman on what the president might say about this report and how it could -- well, let's go to the president -- how this might help him push for still

more -- the president of the united states. >> i want to put today's jobs report in perspective. and, look, we came to office, we knew we were facing a once in a century pandemic and a once in a generation economic crisis. and we knew this wouldn't be a sprint, it'd be a marathon. quite frankly, we're moving more rapidly than i thought we would. this morning we learned that our economy created 266,000 jobs in april. hasn't been adjusted yet, but that's what it says, 266. and listening to commentators today -- [laughter] as i was getting dressed, you might think that we should be disappointed. but when we passed the american rescue plan, i want to remind everybody it was designed to help us over the course of a year, not 60 days. a year. we never thought that after the first 50 or 60 days everything would be fine.

today there's more evidence that our economy's moving in the right direction. but it's clear we have a long way to go. all told, our economy has added more than 1,500,000 new jobs since i took office. that's the most number of jobs created in the first three months of any presidency in our history. just for perspective, in these three months before i got here the economy added about 60,000 jobs a month. not half a million. in the three months since i've been here, the economy has added 500,000 jobs per month. this is progress. and it's a testament to our new strategy of growing this economy from the bottom up and the muddle out. it's a clear -- middle out. it's a clear testament to why it's so needed. some critics said we didn't need the american rescue plan, that this economy would just heal itself. today's report just underscores, in my view, how vital the

actions we're taking are. checks to people who are hurting, support for small businesses, for childcare and school reopening, support to help families put food on the table. our efforts are starting to work. the climb is steep, and we still have a long way to go. today's report also puts some truth to some loose talk that we've been hearing about the economy lately. first, that we should stop helping workers and families out for fear of overheating the economy. this report reinforces the real truth. for years, working people and middle class people -- people who built this country -- have been left out in the cold, struggling just to keep their heads above water while those at the top have done very well. we're still digging out of an economic collapse that cost us 22 million jobs. let me say that again. it cost us 22 million jobs.

when we came in, we inherited a year of profound economic crisis and mismanagement on the virus, and we proposed, and what we propose is going to work. we're going to get to 70%. but, look, it's also going to take focus, commitment and time to get the economy moving again as we want it to move. we've got work to do, and to state the obvious, we have work to do. but, look, let's keep our eye on the ball. that's why the american rescue plan is so important. i said we built as a yearlong effort to rescue our country. it's already working. eight weeks later we passed -- after it was passed, but parts of the bill are still getting under way. here's one example. i know you all know this, but it's worth repeating. state and local governments have to balance their budgets as a

consequence of this pandemic, revenues are way down in cities and states. state and local governments had to lay off 1.6 million employees. that's an awful lot of firefighters, police officers, sanitation workers, essential workers. but later this month we're going to be distributing the first tranche of the state and local assistance the from the american rescue plan. we won't get all 1.6 million of those jobs back in one month, but you're going to start seeing those jobs, state and local workers coming back. starting this month we will also deliver assistance to tens of thousands -- and i notice every republican in their home state is talking about this being a good idea -- tens of thousands of restaurants and bars across the country. and, by the way, the majority of the jobs that have come back have been in the entertainment and in those industries, in the -- and so, you know, we're going to helping schools and

children and child centers across the country as well accelerate reopening, and that's underway. so, look, this is going to continue to improve. today's report makes clear thank good we passed the american rescue plan. help is here and more help is on the way. and more help is needed. second, today's report is a rebuttal of the loose talk that americans just don't want to work. i know some employers are having trouble filling jobs. but what this report shows is that there's a much bigger problem. not withstanding the commentary you might have heard this morning, it is that our economy still has 8 million fewer jobs than when this pandemic started. the data shows that more workers, more workers are looking for jobs, and many can't find them. while jobs are coming back,

there's still millions of people out there looking for work. and the idea that they don't want to work, most middle class, working class people that i know think the way my dad did. he used to say -- and i know i'm repeating myself, but i'm going to continue to because i think it's critical -- a job is a lot more than a paycheck, he'd say, joey. it's about your respect, your dignity, your place in the community. more than a paycheck is people's pride. it's about being automobile to look your child in the eye and say, honey, it's going to be okay. i've never forgotten that. i've never forgotten those folks i grew up with. i think about them every day. they a didn't have a lot of money, but they busted their necks their whole lives to take care of their families, and all they ever wanted was a shot, a fair shot at making it. last month there were 266,000 more americans with dignity that comes with the job with. and there are millions, millions of americans out there who,

through no fault of their own, have been knocked flat on their back this past year. the virus stole their jobs. i'm determined to give them a fighting chance. that's why i've been so focused on vaccinating the nation and getting our economy running again. that's why we've fought so hard to pass the american rescue plan. and, again, the american rescue plan was for the whole year. it mays out over a year -- it plays out over a year, and it's working, but we can't let up. this jobs report makes that clear. we've got too much work to do. and the american rescue plan is just that, a rescue plan. it's to get us back to where we were. but that's not nearly enough. we have to build back better. that's why we need the american jobs plan i proposed, to put us in a position where we can build back better, to reclaim our position as the leading and most innovative nation in the world and win the future, the 2 the

1st century. -- 21st century. we need to rebuild the nation's roads and bridges and highways, airports and ports. we've got water systems all over the country that need repair. there are over 400,000 schools and daycare centers with lead pipes where the water goes through. 10 million homes. i saw a water project system yesterday in new orleans. it was over 80 years old. it's in need of major, major overhaul. and, by the way, if they don't get it fixed, new orleans itself is in real trouble. they need reliable, affordable high speed internet throughout this country. our businesses need to compete worldwide. our rural communities need to be able to compete and make their own judgments as to when to buy and sell. and our kids need to succeed in school. as my wife jill says, any nation

that outeducates us is going to outcompete us. we also need to up our game in our education system. twelve years of education in 2021 is not enough to compete in the 21st century. in my view, we need 16 years of public education guaranteed. in this country from preschool for 3 and 4-year-olds at the early end to two years of community college after high school. we have some serious decisions to make and fundamental choices. and think about it, how much better off is the country if we have tens of thousands of graduating seniors from high school and beyond going to get two years of community college? doesn't that increase our capacity significantly? this month's job numbers show we're on the right track. we still have a long way to go. as i said, my laser focus is on growing the nation's economy and creating jobs.

my laser focus is on vaccinating our nation, and we're making continued progress. my laser focus is on one more thing, making sure working people in this country, hard working people, are no longer left out in the cold. they're going to get a share of the benefits of a rising economy. it's been a long time since that happened. i've called my plan the blue collar blueprint for america. that's exactly what it is. so let's not let up. we're still digging our way out of a very deep hole we were put in. no one should underestimate how tough this battle is. we still have a jobbed to do here in washington. the american people are counting on us, so let's get it done. let's build an economy that gives dignity and gives everybody a chance. i'm confident we can do this, because there's nothing beyond the capacity of the american people. i want to thank you. god bless you, and may god

protect our troops. thank you. >> mr. president, do you believe enhanced unemployment benefits have any effect on diminishing a return to work in some categories? >> no. nothing measurable. thank you. >> mr. president -- >> [inaudible] with your mask on. why do you choose to wear a mask so up when you're vaccinated and you're around other people who are vaccinated? >> i'm worried about you. no, that's a joke. a joke. why am i wearing the mask? because when i'm inside, it's still good policy to wear the mask. that's why. when i'm outside -- and the problem is lots of times i walk away from this podium, you notice i forget to put my mask back on. >> are you at all concerned about vladimir putin amassing troops on the border of ukraine? do you see that as a message to you, and could it impact your desire to have a one-on-one meeting with him? >> it's not impacting my desire to have a one on one meeting,

and you'll notice he had more troops before. he's withdrawn troops, significantly less than he had a month ago. [inaudible conversations] >> sorry. mr. president, do you believe that the iranians are serious about negotiation in vienna? >> yes, but how serious and what they're prepared to do is a different story. we're still talking. sir, you had a question. >> do you have any updates on whether you'll be able to meet vladimir putin in june? is that going to -- >> it's not that we'll be able to do it, we don't have any specific time or place. that's being worked on. >> has he agreed, sir? >> thank you. neil: all right. president biden sort of outlining some of the big news out of the employment report today. many were expecting many more new jobs. in fact, rather than the million, about 266,000 jobs were added and the unemployment rate ticking up to 6.1%. now, some thought this would

hayes. en the call -- hasten the call to keep the economic stimulus going. the president was saying this was a justification for helping out people who need that. he seemed to wave off the concern that all these extended jobless benefits are leaving people very little reason to go find a job in this environment and, as a result, that is stymying some of the job growth that the president wants to see. now, republicans have been arguing in a number of states, including montana, that they want to go ahead and shelf those extra benefits. to disincentive individuals from even thinking about not looking for a job. the president seemed to dismiss that as an exaggeration, just sort of getting to the gist of that. i want to go to governor ned lamont right now, democratic governor of connecticut, who is more focused on right now vaccination efforts. connecticut has become the first state now in the nation to reach full vaccination for virtually

half of all adults there. governor, very good to see you, and congratulations on that. i do think these two stories, governor, the improvement we're seeing in the economy -- bumpy though it is -- and the reopening of america, the vaccination that's happening in your state at a pretty good chip, that they're tied pretty much together. do you buy that? >> oh, absolutely, neil. nice to see you. we have over half of our adults now are fully vaccinated. we have about 70% of folks have had their first shot, so we are getting closer to herd immunity. people are feeling a little more happy to be able to get out, get into a restaurant, outside, not have to wear the mask, get back to a new normal. but we've got a lot to do with jobs. i heard the president there, and i understand exactly where we are. we've got a butt of a barbell in -- a bit of a barbell in our state. we have a lot of jobs that we

can't fill either because they require skills and we're not training for those skills, or some folks in the service sector like the restaurants where you have to pay them a little bit more to get them back to work. neil: you have to pay them a lot more for those who are enjoying extended jobless benefits, an extra $300 a week. that would be tough for restaurants to top. so when you hear from those owners in your state, what do you tell them? >> i tell them, a, that restaurant worker, the $300 true-up from the federal government ends in september. i tell washington, d.c. and the commissioners there, look, if somebody talks a job, why don't you advance them three or four months of that $300 true-up so they get $1200 as an incentive to go back to work? it won't cost the federal government any money because they're already paying that, and

it'll give workers more incentive to get back to work with faster. neil: it does appear to be having an impact on those folks moving from that to jobs even in your state. are you worried about that? >> i am. look, i think we're providing free childcare this summer thanks to the rescue plan. that makes it easier for that mom or dad to make, getting to work a little more supportable. we're providing free bus service during weekends make it easier with. all ways we can reduce the cost of getting to work and being able to work. but at some point we've got to get everybody back in the game. neil: how are things -- we talked about the vaccination, speedy rate in your state. no other state has done what you've been doing. you've kept restrictions somewhat almost to a minimum now. so how close are you to dropping all of that in connecticut?

>> we virtually ended all restrictions except for one important one. we like people wearing the mask indoors for another month or two. not when you're at the restaurant table, when you're between tables and moving around. and we're really doing everything we can to provide incentives for more people to get vaccinated. it's getting tougher now, neil. you get up to that 70% number, and those invincibles who are 25 years old, we've got to work at them. neil: so it's not just invincible, but you're right, there's a core group of young people, you know, who are loathe to do this. but a number of people who are getting mixed reads on the wisdom of vaccinations period. does that worry you, that we might be hitting a ceiling here? >> look, we had 4,000 folks protesting at the capitol a few days ago. they were sort of in the anti-va, and team. but i think -- anti-vax team. for us, it's a mart of having

friends and friends of friends telling you how important it is. we have one fun incentive called drinks on us starting in ten days. come into a restaurant, tell them you've been vaccinated, you get a free drink. you don't want to be the one sap still paying for it. neil: so if i'm living in new jersey, governor, and i have proof of my vaccination, can i take you up on that free drink in connecticut? >> come on up, neil. you do have to buy a meal, so it's good for our restaurants as well. neil: oh, i got you.i knew there was a little catch there. governor ned lamont, the governor of connecticut, quietly getting things done without any of the hoopla or fanfare that governors on both sides seem to crave sometimes. all right, we've got charles payne, just helping you make money, 2 p.m. right after this show. charms, one thing that didn't -- charles, one thing that didn't surprise me from the president's remarks at least, and i could see this coming in the jobless

report, this is why we have to keep spending. and he seemed to negate this is the ammo for that. is it? >> no, it's the exact opposite. i can tell you right now, president biden spent a whole lot of that press conference -- i mean, you could see he was really trying desperately to explain, you know, how this happened. how do we get 266,000 when some people on wall street had modeled for 2 million? why did the prior month lose over a quarter of a million? they were ready to go out there and celebrate 1-2 million new jobs, neil. that was what the script was when they woke up this morning. so, yeah, you try to make lemonade out of lemons, but here's the thing: people are being paid not to go to work. you know the government report -- and, by the way, it's two months behind, february, 7.4 million jobs are out there. 7.4 million. so this is not about jobs not being available, right? this is really something a lot

more concerning, and it's really, i gotta be quite frank with you, it's really heartbreaking that they won't admit it. i was thrilled with your interview with governor lamont. i think we need to be honest about all of this. from may to last month, the united states government paid $8 trillion with a t, $8 trillion in unemployment benefits. $540 billion last month. prior to the pandemic they were paying about 20 billion, 25 billion a month. that's gargantuan. think of the difference there. it's phenomenal. and, by the way, all of these programs, pandemic assistance unemployment, 6.9 million people are in it. here's an interesting thing for you, how many in florida? zero. new york, 1.1 million, california, 1.3 million. the pandemic emergency you see 4.9, call it 5 million people, how many in florida? zero. how about new york? 740,000. california, 1.3 million.

and this extended unemployment benefits, 453,000 americans. how many in florida? zero. try 189,000 in new york, 153,000 in california. and it went up last month. so there's something about, you know, these states that stayed closed too long and that offered instead of, you know, smart initiatives on their part, following the science on their part, instead of stucking with ham-fisted, politically-driven ideas, they thought that unemployment would be a way of as swaimging those folks, and it's backfiring miserably. neil: you know, i dud like governor lamont's approach. go ahead, if this money is already allocated, give a lot of these folks this money up front for the three, four, five months that's remaining, get that, get a job. this is no excuse now to do so. if you think about it, the montana governor is essentially offering that, $1200 for you to go and get a job, the equivalent

of getting those benefits for another four months. that might be the solution here to get everyone back into that work force. >> yeah, and, i mean, the only, it's the only alternative outside of the federal government saying, hey, we don't need this. remember, the program has been extended a couple of times, right? that's okay if you say, listen, we thought it was a good thing. you to go back three months ago, it there was a lot more panic. three months prior to that, it was a serious panic. you say, you know what? we looked around, with we don't really need this anymore. but president biden is in a jam. on one hand, he wants to take credit for things in his policies which haven't kicked in, we're still at the trump tax rates, right? we're still -- [laughter] you know, not a lot of things that president biden has done have actually gone, been implemented. but he wants to take credit for it, fine. this is mostly about reopening. but you can't have it both ways. you can't say i'm the most amazing president in history and

no one ever created this many jobs, but this country is in the worst predicament and we've got to keep printing money. he's got a serious dilemma on his hands. neil: great seeing you, charles. as charles was speaking here, we still have the markets moving up here. now, spending will do the trick, that will boost the economy, or lift up a lot of company earnings, and we've been seeing that in a lot of the earnings reports. the stable nature of rates today coming down a little bit, it's helping technology stocks that's why you see the nasdaq up better than 163 points. up until today, of course, it's been a pretty rough week for them. we'll have more after this. ♪ gonna let it burn, burn, burn, burn, burn. ♪ gonna let it burn, burn, burn, burn, burn ♪♪

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♪ neil: all right, we're moments away from a white house briefing. normally we don't always cover these things, but janet yellen, the treasury secretary, will be making some remarks. i end wonder if she'll follow up on comments the president made about the disappointing jobs report. liz peek with us on that, or scott shellady as well. liz, that seems to be the message the president had. i'm sure his treasury secretary will echo it. what do you think? >> yeah. i think it's a very tough sell because what we know, charles really hit the nail on the head. i think it's, half of the americans who are on unemployment benefits now are making more, according to one survey, than they would be making if they went back to their jobs, neil. so rational people aren't going to go back to work if they're better off staying home.

i think the extended unemployment benefits and the $1.9 trillion american rescue plan was a mistake. the nfib, the small business group, says that 42% -- i think it's a record high -- of their members are having trouble full jobs. we all know this is true. you can walk down the street in manhattan and see, you know, help wanted signs practically everywhere. people can't hire workers. so this is a big problem. i'll be very interested to see if janet yellen, like biden, simply dismisses that out of hand. neil: real quickly, scott, we'll wait, obviously, until we see janet yellen speaking there. some technical difficulties there. one other issue that came up in the employment report was this sudden decline in manufacturing jobs, about 18,000 of them. i wonder if the check up shortage and all -- chip shortage and all these auto companies that had to stall

production, if that had a lot to do with that and that's a separate issue that the administration has to deal with right now in what do you think? >> well, it's a big issue, you're right. and i i'll call one of them the employment issue where we're paying people to stay home. and number two is a ply chain issue, right? -- supply chain issue. everybody wants everything now. the gym lights go on slowly. they don't go on all at once. and that's the problem. he's calling it an american rescue plan. the government's the one that shut us down, and now he's going to say the government's going to rescue us? how about just an american reopening plan, stand thing back and opening up the country? i know they're not going to do that. so they're going to try to take credit for what they did by locking us up, now letting us out and and now competing for our own workers to get our businesses going again and, oh, by the way, might throw in $15 an hour just to really kill all these small businesses. it's an absolute scam the way this government is really

stacking the cards against small business by competing with them for their workers, having shut them down for a year. they're not even fully opened yet, and now they want to raise their wages. if you look at it from the lens of common sense, it falls terribly on its face. neil: all right. [laughter] we shall see. janet yellen is speaking to reporters, guys, if you can hang in there, because i will want to go after this depending on what we get out of the treasury secretary who, of course, got herself in a butt of of controversy last week when she was talking about the inevident only -- inevitably -- i'm sorry, we cannot hear her? i apologize. i don't know if any of you are lip readers, but i think she said we're worried. [laughter] it's hard to make that out. liz, until they get things straight with the sound from the white house, if they are saying we have to keep spending, we have to keep this impetus going and all this incentivizing going, you can make an argument

to certainly all these employers in this country that are having a devil of a time finding workers that this is going to last a while. this problem is going to last a while. their business is booming, but they don't have the workers to deal with it. >> well, it's certainly going to last til september because that's when these unemployment benefits roll off, and democrats, by the way, are arguing to keep them in place. i don't think that's going to happen. [audio difficulty] schools are fully reopened, that means 40% of families with kids in schools, which are prime working age americans, somebody's staying home to look after those children. so that too is a problem that, hopefully, will be gone by september if, indeed, all these schools reopen after they've gotten hundreds of billions of dollars to do soment but, you know -- to do so. but, you know, i think janet

yellen clearly goofed on monday when she talked about inflation and how the economy may be overheating. my guess is what she's saying right now is now we say it's not overheating. i'm not sure that's really the conclusion you should take away from this jobs report. neil: you know, the bottom line, scott shellady, is that i think markets like stimulus no matter how they get it, right? ideally through tax cuts. that isn't something that's happening for the time being, but spending will do the trick. that, obviously, gooses the economy. the question in the long term, is that good. so for the market it just seems to be a win-win. what do you think? >> well, it is, but i also think the market's done a lot of that work already, right in you can't say you're surprised by the reopening of america now. so what's the next leg higher going to be, more spending? i said this i think last week, and i don't mean to be a debbie downer, but, you know, we're going to wake up at some point in time next year having spent

$10 trillion which we really don't have, and we're going to slip back to our gdp around 2, 2.5% and then a wall of new taxes. what does that world look like? that's what i think the stock market is actually starting to think about, because are you going to be able to raise rates into that environment and, oh, my gosh, what happens when we wake up with that hangover on those taxes and that regular gdp? that's going to be the issue. if you want to go back to the february 2020 economy which was the best we've ever had, and the reason we don't have that is because we shut down. any second grader can tell you the way you get that back is you reopen, right? for some reason our government has a hard time with that idea, and that's been the biggest issue. and then on top of it, they're paying our people to stay away, and we've got -- i don't even know if it's inflation, but here's the world right now. the restaurants have been shut for a year. we're open for the first time on friday night at 6:00. you seat 150 people at 6:00, and they all order at once. is that inflationary? are you going to build a

business plan off of that? that's what's happening in every business. everybody keeps saying, shortages. well, yeah, the supply chains are all screwed up. wait until things are settled down, and i bet you find a much better world. neil: my staff, brilliant as they are, are lip readers as well -- [laughter] and apparently janet yellen is talking about the april jobs report underscores the long climb back for the u.s. economic recovery that she said the bright economic spots in the services industry and just the expanding labor market itself, that there has been a remarkable economic progress. but to your point that this is something -- you both have been echoing -- that we have to keep work on and we're not there yet. i believe audio? it's working so that we can hear janet yellen. herself, again, responding to this jobs report today and how it galvanized attention for more spending.

>> -- pre-k for 3 and 4-year-olds, and it provides up to 12 weeks of paid family and medical leave. with today's jobs numbers, i'm confident we will have a strong, prosperous economy this year and in 2022. but what about the rest of the decade and the years beyond? our country's long-term economic health depends on whether we invest in american families and workers, and i'm very hopeful we will. let me stop there, and i'd be glad to take some questions. >> so president biden suggested that the up creased unemployment benefits -- increased unemployment benefits have not affected the jobs report, but the chamber of commerce and some businesses are arguing it's easier for people to stay home than go back to work. how do you explain the slowdown in hiring that we saw in this jobs report, and is there talk about reducing that unemployment benefit in the future to get

people back? >> so, first of all, i'd note that the jobs report is a little bit stronger than the headline numbers might suggest on the hiring front. the number of people working part time for economic reasons, namely involuntary part-time work, that number declined by 600,000. and hours, average hours of work ticked up by a tenth. so that means that an extra that margin in which employers are able to boost their labor is by adding to hours of existing employees. and those employees want that extra are that work. they were involuntarily working part time. you know, the labor market is volatile from month to month, and i think the best thing is to

average through and say we've been creating over 500,000 jobs a month on average over the last three months. but, you know, it's clear that there are people who are not ready and able to go back into the labor force. many children are back in school but not on a regular schedule. it's a challenge for parents to manage schedules where one child is in school a couple days a week and another child is in school some different days during the week. so care-giving responsibilities in absence of childcare are still important reasons why people are unable to return to work. you know, concern about the pandemic and the health consequences, i think, remains a factor for many.

you know, i don't think that the additional, the addition to unemployment compensation is really the factor that's making a difference. there's no question that we're hearing from businesses that they are having difficulty hiring workers. over 200,000 workers, i point out, were added this last month in leisure and hospitality which is the most badly affected sector. but, you know, when we look across states or across sectors or across workers, and if it were really the extra benefits that were holding back hiring, you'd expect to see either in states or for workers or in sectors where the replacement rate to ui is very high, you'd expect to see lower job-finding rates. and if, in fact, what you see is the exact opposite. you know, we've had a very unusual hit to our economy, and

the road back is going to be somewhat bumpy. we have to expect that there are a variety of bottlenecks that are also realm -- relevant. so we've seen motor vehicle production shut down in some places because of the shortage of semiconductors, there was a loss of jobs there this month. there was setbacks in the will lumber industry because of shortages there. starting up the economy again, trying to get it back on track after a pandemic in which there were a lot of supply bottlenecks is going to be, i think, a bumpy process. but i really don't think the major factor is the extra unemployment. >> [inaudible] >> were you surprised, secretary, about the number? we've heard so much about the pent-up demand, the desire to

get back, we've seen vaccinations rise, and we know that some of the funding in relief packages targeting businesses is in the bloodstream now. so were you surprised by the number, and how much of a change would you anticipate as the summer season and the re emergence continue? >> i believe that we're going to, the recovery will remain on track. and it may be bumpy from month to month for a variety of factors. you know, there are often quite large revisions to months as well. there is data two days before this, the adp day that that suggested over 700,000 jobs would be created. unemployment insurance claims had gone down. so if i had had to write down a number as my best guess, it would have been higher. but i've watched data for a long time, and i know that it is extremely volatile. there are often surprises and

temporary factors, and one should never take one month's data as an underlying trend. besides, remember, actually what happened is stronger, i think, than the headline number looks. >> -- see in the bloodstream of the economy now making it? >> absolutely. we saw very robust spending, consumer spending in the first quarter of the year. the stimulus checks getting out there stimulated a surge in spending. we're seeing services begin to pick up from very low levels. i think there's absolutely no question in my mind that the money that the arp has put out there and will continue to put out there in the coming months is going to boost spending. and as things open up with further success with vaccination s from the pandemic,

people are going to go back to eating out can and travel thing and doing -- out and traveling and doing all the things that they can did. i absolutely expect to see continued progress. probably bumpy and there is -- you know, look, we're till down net 8.2 million jobs from where we were in february of 2020. that is a big hole. and we're going to head back, but, you know, it's going to take a little while. >> madam secretary, what's your advice then to the employers who say they are having difficulty hiring workers? perhaps raise wages, but if businesses have to compete with unemployment benefits, won't that result in increasing consumer prices to touch off the inflationary cycle so many are worried about? >> well, i really doubt that we're going to see an inflationary cycle, although i will say that all the economists in the administration are watching that very closely. as my colleagues have said, the

cea put out a blog post on this, we expect somewhat higher inflation over the next several months for a variety of essentially technical reasons because of something called base effects that in year-over-year comparisons right now the months in which prices fill the most are moving out of the average, can and that leaves us with the months in which they were rebounding toward more normal levels. but that's a transitory thing, not something that's associated with a buildup in wage pressures. i mean, with respect to wages, the best data that we have suggests that wage growth is really not ticking up meaningfully. and in areas where you do see some pickup, for example, this month in services there was a

pickup in wages. but still that's an area where with wages actually fell at the beginning of the pandemic, and, you know, we're seeing a revival not back yet up to normal levels. so, you know, in areas where wages are more flexible, they fell a fair amount. as the economy revives, we expect to see a return to more normal levels. but i don't think we're seeing meaningful upward pressure throughout much of the economy, but we'll watch that very carefully. >> madam secretary -- [inaudible conversations] >> sorry. this'll have to be the last one and always welcome back anytime. go ahead. >> is there any more you can share on how long treasury's extraordinary measures of extending the debt limit may last? is there anything more you can share on that? >> all i can really tell you is that the debt ceiling comes back

into effect on july 31st. and there are a series of so-called extraordinary measures that are ordinary in the sense that they've been used many times in the past. but it is exceptionally challenging this time to try to figure out just how long those measures are going to last in part because of higher and more volatile spending and revenue numbers associated with the state of the economy and the pandemic. so we have evaluated a range of scenarios, and we are concerned that there are scenarios that would give a very limited amount of additional time to the use of extraordinary measures, but i can't really be more precise than that. >> -- october or -- [inaudible] >> dud -- there are scenarios in

which sometime during the summer the extraordinary measures would run out. >> thank you, secretary yellen, for joining us. >> my pleasure. thank you, jen. >> thank you very much. neil: all right. janet yellen saying pretty much what her boss was saying about a half an hour ago, that is the jobs numbers were not affected by extended unemployment benefits that allows those already on state unemployment to get an additional $300 from uncle sam per week right through september. the argument has been made, and we've heard from restaurant managers and the like who have said that, it's making it very difficult for them to find workers when with all of these allowances, grants and special checks coming so many unemployed americans are earning the equivalent of $20-21 an hour. a lot of people getting those benefits crunching the numbers and saying, you know, i might as

well keep collecting this and see what happens in september before i even entertain going back to work. janet yellen saying she doesn't think that is really the issue here, that that argument has been overstated, that there are other factors including this chip shortage that has prompted many automakers, for example, to stall production or lay off workers as a result. many, many more issues at play here. back with liz peek and scott shellady. liz, like her boss saying there's no "there" there to that argument. you disagree. >> well, she actually did acknowledge that they've heard that discussion from employers. and i'm really delighted to think that the white house is listening to businesses, because the obama white house never did that the, and my sense is that biden's administration is equally indifferent to what actual business people are saying. look, we know from small businesses, as i just said earlier, they're having a problem hiring. the chamber of commerce says big businesses are hiring. look, there's no question supply

chain has been kind of messed up, and the chip shortage is really profound and, honestly, at some point we're all going to wonder exactly how that happened. but there is also the problem of schools, and there certainly is this problem of extra unemployment benefits. both biden and yellen are want to also reassure the american people that the american rescue plan going to be extended over a period of time. it's not meant to be just a short-term fix. but i think also, neil, in some way they're sort of pleased this economy isn't booming because they really want to pass two more huge, humongous, $2 trillion plans which are predicated on the idea, as janet yellen said at least long term, we need more support. which, you know, i think americans are kind of growing cold to the idea of all these trillions of dollars. so i don't think it's going to happen. neil: you know, if they don't

happen or the spending, the approval that the president needs, scott, he's running into a bit of a brick wall here. i'm wondering forget about the delays of these spending packages, it also delays tax increases, right? >> yeah. >> well, yeah, it does -- it delayed the chance that, it delays the chance that he gets to stand on the brake and the gas at the same time because that's basically what he's doing. after i heard those numbers this morning, i thought to myself, well, how are they going to spin this? it's good for him to want more money and continue with this american reopening plan, but at the same time he's going to throw a bunch of taxes at that. does anybody ask if that makes any sense at all? this is what i love about america, neil. jeffreys, the investment bank, did a study. the first quarter gdp of 2020 versus this year, do you know

that we were more productive in 2021 with 5.6% less people employed over that same period of time? so american business, you know, this is to all those at home that are taking that money until september and they're all fat and happy, american businesses are figure a way to get it done. neil: all right, thank you very much. i don't like the fat analogy there. we'll have more. the dow up 148. ♪

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neil: all right, well if you were looking at the white house over the employment data out today that ended up being far fewer jobs added to the economy than thought of the unemployment rate picking up to 6.1% you didn't find it in the case maybe making lemonade out of lemons and they pivoted to say and that includes the president and his treasury secretary that this is something that will be helped by still more extending and used that as a reason for just that. we're going to be getting the read on that with the former labor secretary of the united states, will be joining us and then the big fuss with elon musk

and normally, you see this sort of thing well after the fact with a host if they pick people off on the show but ahead of time there are a lot of folks on that very show who are indeed seeing elon musk come on there we'll ask joe piscopo and one of the greatest snl alums in history. all of the fuss over elon. so the fuss over these numbers with our own blake burman following the administration's post-data pitch i guess, blake? reporter: yeah, well you know, this was a miss, neil, as we know as it relates to the expectations coming in and the unemployment rate moving in the wrong direction, but over here at the white house they are really making a two- fold argument today. on the one hand they are saying don't really look at one month's worth of data instead you got to look at a few month's worth of data during the president's tenure here and when you look at the average of the last three months, it is over 500,000 jobs created, so they say things are moving in the right direction. they are also pointing to the

$1.9 trillion american rescue plan. the president clearly signature legislation to-date. they say that the numbers today show that the rescue plan is working. listen here to the president. >> today's report makes clear. thank goodness we passed the american rescue plan. help is here, and more help is on the way, and more help is needed. reporter: but neil, as you know, there are also questions about the enhanced unemployment benefits that are the $300 federal plus-up many economists feel it's a hinderance and not a help and the chamber of commerce say that should end and here is what they say, "the disappointing jobs report makes the clear paying people not to work is dampening what should be a stronger jobs market we need a comprehensive approach to dealing with our workforce issues and the very real threat unfilled positions poses to our economic recovery from the pandemic." there have been lots of

questions on this today, and it was put forth to the treasury secretary janet yellen moments ago in the white house briefing room, whether or not the enhanced unemployment benefits are hurting the economy here is what she said. >> starting up an economy again , trying to get it back on track after a pandemic in which there are a lot of supply bottlenecks is going to be, i think, a bumpy process, but i really don't think the major factor is the unemployment. reporter: neil, this was the very first question posed to president biden today after he made his prepared remarks. he was asked mr. president, do you believe enhanced unemployment benefits had any affect on diminishing return to work, in some categories and he said, "no" nothing measurable. many opinions though clearly though, neil, on the other side of that. neil? neil: blake burman, thank you very very much. ed lawrence has been crunching through these employment numbers

, and has discovered things that maybe a lot of other people have been missing. edward? reporter: interesting that the last time the economy added fewer jobs than 26 6,000 was january of this year, when the economy added 233,000 jobs. if you look under the hood in this jobs report, you see gains basically in leisure and hospitality adding 331,000 jobs back, most of those coming in food and drinking places, but the losses coming into very interesting sectors like 74, 100 jobs lost in transportation and warehousing, manufacturing is down, you see 18,000 jobs there, retail loss 15,000 jobs, healthcare lost 4,000 jobs, professional and business services down 79,000 jobs, so this report has economists scratching their heads because there are about 7.4 million job openings in the economy, and 9.8 million people unemployed, yet companies say that they can't get workers to apply to take jobs. some experts as you heard blake say point to the fact that areas where workers are being paid more to stay home on an

unemployment and now the labor secretary says that's simply not true. >> so i guess if i went with that assumption, i would assume that 9 million americans have decided not to go to work because they are collecting unemployment insurance which i don't think is the case. most people want to be back at work. they want to get their career, unemployment insurance is a temporary fix. reporter: and you know, those on the ground that hire employees are telling a little different story listen to the owner and chef at slap fish recently increased what he pays to attract workers. listen. >> workers, current and ex workers, restaurant owner s and management and you name it and we know what's happening out there and i've got to tell you look. there's no single factor per se. it's obviously a confluence of factors that's leading towards this labor "situation", unemployment insurance is certainly a common denominator amongst them. reporter: common denominator among them and the report also shows the average hourly earnings increased .3% over the past 12 months.

that, neil, is not keeping up with the pace of inflation at the moment. back to you. neil: all right, edward thank you edward lawrence on that. to hillary vaughn has been looking at the comeback of earmarks here, maybe this employment report is going to add more grits to that. hillary what can you tell us? reporter: hey, neil. well house speaker nancy pelosi is really trying to earn back trust with tax pairers turned off by the return to pork barrel spending in budget bills of the past but some republicans are not excited or thrilled with this idea that pork is making a return to the appropriations process. >> here is why speaker pelosi likes them so much. they become the currency by which the leadership buys votes, for unrelated legislation that's terrible. its been corrupting in the past. we've had former congressmen go to jail in years gone by because it was just too tempting. reporter: already backlashes that public is getting a peak at

some of the projects being requested and lawmakers are having to defend them. congressman gonzalez is the one that requested $400,000 to put toilets on a hiking trail. his office tells us that the toilets would improve the quality of life for south texans and that they are invest ing in our outdoor spaces and trails, but that's not the only toilet-related request. one lawmaker is requesting a lot more. $3 million to renovate 26 restrooms in california, and congresswoman bonnie watson cole man wants to spend over 600,000 to plant ash trees. her office told us these trees will benefit wildlife and help improve water and air quality but congress is capping the price tag for pork in the 2022 budget at $15 billion and any lawmaker that gets a piece has to pledge there's no pay-to-play but the american accountability project is calling out congressman garrett

graves for requesting 35 million for a usda sugar cane research unit and they tweeted this. a coincidence, big sugar gave congressman garrett graves nearly 100,000 in campaign cash and he asked for a 35 million earmark for their research facility. in the request, graves says the facility was something the usda asked for and his office tells us this. sugar cane is the biggest crop in our district representing one of the biggest employing sectors in louisiana. we were going to ask for a snow ski research center, but thought this be a more relatable priority for our state's economy now in the meantime, neil, republicans who have protested pork in the past are being tempted to use it. six republican senators people politico they will be submitting earmarks of their own, ten others say they are still on the fence about it, but neil, if all democrats are the only ones submitting these earmarks that it's going to be democratic districts that are ultimately benefiting from this pot of 15 billion, so, there is a case to be made that some republican

senators might be swayed to try to get a piece of the pie for their own home districts. neil? neil: oh, yeah, they are all going to dig into this. it's new money, nowfound money. hillary thank you very very much all right, so, the spending race is on. let's go to luke lloyd, strategic wealth partners investment strategist, and ann b arry back with us, financial analyst and welcome to both of you and very good to have you. ann if i can begin with you on the earmark return and all of the spending that goes with it i think all of these various initiatives are in the scheme of things, you know, small in nature, but, but, but, they are the gateway to the bigger spending that this provides. what do you think? >> that's right, neil and i think this idea that it's more than the aggregate is still $15 billion, that is where you start to see government creep and i think what can be really important as these requests move through the approval process is we've got to see bipartisan commitment to getting these

things out so if you don't have an electorate that believes the tax hike is wasted on federalist projects so it's important that these are managed out and for them the debate can stay focused on building back america better which really needs to be the priority for both sides of the aisle right now. neil: you know, luke, i always keep an eye on the markets and how they are reacting to all of this. if they are worried about this spending they reporter: showing it and i wonder whether they really separate spending from tax cuts or vice versa, as long as it keeps the pump priming, right? they seem to like it, what do you make of that? >> i keep on talking about this , but it serious had is the best way to describe what's happening. bad news equals good news for the smart right now. there's a huge disconnect between the economy and stock market. as the economy seems to get better the stock market stalls and then you have bad data like this morning that sends the stock market higher. why is that?

well investors know bad data is leave stimulus indexes and more unemployment benefits that artificially inflates stock prices and low interest rates. neil, i'm so sick and tired of blaming the pandemic for issues. it's no longer the pandemic causing most of the issues that we have. it's the ridiculous policies and agendas that politicians in washington are pushing. i can only think of a couple reasons that the government still is giving out unemployment benefits and stimulus like they are. is to artificially raise the wage for or to make people rely on government for assistance. those are horrible for the economy and horrible for america. artificially raising the wage is always a bad idea. that's how you bankrupt small businesses, and startup companies that be innovators of the future and i don't even need to explain why relying on the government for your life is a horrible idea as soon as you realize solely on the government, you give away all liberties and freedom. it's time to incentivize people to get back to work. there are more than enough jobs out there. it's time to get weekly stimulus checks from your job. neil: you know, in the meantime,

ann, the fear of all of this spending, if it's still out there, might be misplaced because what if it doesn't come to pass? in other words, if the administration, forget about the $2 trillion or so that was really the start of things for covid relief, emergency help , all of that, but all this other stuff they're playing , six, seven trillion dollars in spending doesn't hav ed adequate support among democrats so maybe the markets are responding to the flip of that that also delayed be those tax hikes. what do you think? >> i think the government is setting up an agenda to try and make people dependent on artificially setting the wage for and the market is responding to today is partly what you just said, neil which is the expectation that only a fraction of the proposal will actually go into effect so it's going to respond to what happens , not what could be the hypothesis right now, number

two the market is responding to the fact that the weak labor data today is supply-driven and that's where it's transitory, not demand-driven. all of the other data that shows demand in the economy right now is strong. inventory sell-downs were strong which shows that there's really robust demand and the problem is on the supply side and all of it is because labor decides to stay on the sidelines. it's not labor's fault there's a chip shortage causing manufacturing plants to shutdown it's not labor's fault there's a shortage of child care out there which means the population might not be able to participate right now so i think a little bit of this , neil, is the market looking at it over a longer period of time not just to what's happening or might be proposed right now. neil: we'll watch it closely, guys, we'll have you back a little later talking about this post-pandemic world that you were getting into, luke, and what happens next, especially with so many companies indicating that the government is holding them back from reopening, the norwegian cruise lines ceo will be joining us on that particular development in

the meantime, all this might be a moot point. i don't want to worry you this weekend, but you might want to look up, because that chinese rocket, remember the one that was destined to crash into our atmosphere and hurdle to earth? well this is the weekend it's going to do it. now the odds that it will hit land, i'm told, are remote, but it's big. it's 23.5 tons. it's up above us, and it's coming after us. >> ♪ ♪ ♪ ♪ ♪♪

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u.s. space command out in california is monitoring this tumbling and out of control chinese rocket, as best that it can, but it's cruising at 18,00e earth, and it's threatening four continents. north america, south america, asia, and africa, and of course, the big pacific ocean there in the middle. all of the expert space trackers who watch all the objects that are orbiting around the earth, they are all pretty much in consensus this is going to happen, on either saturday or sunday. as of yesterday, trackers had it splashing down into the south

pacific near the equator new new zealand but now, one tracker thinks western asia, around where it flies further reports slamming into ground, in northeastern africa. so, it remains possible, pieces of this rocket, could still land on an inhabited area. the huge rocket blasted off april 29 from south china. it's one of more than 10 planned launches, all for china's ambition to build its own space station. it was a completely successful launch april 29 but the size it was 5b course stage rocket about 100 feet long, 16 feet wide weighing 21 tons is far larger than the usual piece of discarded rocket debris which usually just burns up in earth's atmosphere upon descent. here is the defense secretary yesterday. >> i have a plan to shoot the rocket down. we're hopeful that it will land in a place where it won't harm

anyone. reporter: aren't we all. as for space junk, this rocket is enormous. this is a graphic animation of the chinese space station final product, a few years away from now. ultimately, about a quarter of the size of our current space station. there are two more launches scheduled from china in the coming weeks, and we'll send cargo and three astronauts to the core module which is about the size of a five story building. last year, the first of these two chinese rockets took off, and went into space also tumbled uncontrollable back to earth, just like this one is, and that one actually pieces of it damaged some buildings in africa on the nation of the ivory coast. neil? neil: all right, so they got two more launchings and this could happen, two more times, right? >> yeah, much of this rocket is believed to going to be to burn up upon reentry, but much of

it's going to be left behind, may breakup and then one expert said if it hits land, it'll be like a cascade series of small plane crashes as far as damage. neil: lovely. phil keating thank you very very much my friend, as phil is telling us this weekend a lot of people saying increasingly it could happen tomorrow. in fact, increasingly it seems to be staying around the 10 a.m. to 12 p.m. timeframe which coincidentally is when we're on the air, on fox news, taking a look at these developments if they matter to you on earth and if it's something crashing toward earth, we got you covered so you don't have to worry about all the spending in washington. maybe it's a moot point. we'll have more after this. >> ♪ ♪ ♪ ♪

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neil: some are calling it the elon musk effect, that he's going to be hosting saturday night live this weekend but ahead of that curious movements and a lot of bitcoin cyber currency that's getting more than a little bit of attention on wall street. jack jackie deangelis with all of that. reporter: good afternoon, that is highly anticipated by normal people but also by the business community because you never know what might come out of elon musk 's mouth and tomorrow night, it could be about dogecoin, when musk announced that spot, he tweeted the doge father, in about a week, dogecoin was up about 90% so let's step back for a second because most people i ask still don't know what dogecoin is. they just think it's a cryptocurrency. it's not exactly. dogecoin was created as a spoof

on bitcoin and meant to be a joke. the doge, it's a dog, it's a me me. there are no fundamentals here, no limited supply, no real purpose you can't even trade it on coinbase, which is a crypto platform that just went public, because they don't take it seriously. you can trade it on robinhood. you can trade it on gemini, that's the winklevoss platform, but the so-called crypto keeps going higher even celebs like musk and snoop dog they are believed to have owned it and still do and look at the action indogen a week up 47% i'm sorry, yes, and then up 83% in a month, up about 12,000 percent this year alone and elon likes the crypto space when he said you could start buying, using bitcoin to buy tesla it certainly gave legitimacy to the crypto, but buyer beware because so many caution this is a dangerous trade, and with no fundamentals, there are going to be poor souls out there left

holding the bag at some point. there is also the issue of regulation for crypto in general and that could drag on dogecoin first so all eyes on snl tomorrow night to see what comes out of his mouth and what it does in the crypto space, neil. neil: all right, looking forward to that, jackie thank you very much, jackie deangelis. even some past and present crew members on snl, some of the cast themselves, were not keen on having elon musk, you know, host the show. there were some, well, those who oppose those opposing him, take a look. >> i just don't understand why this is the dude everyone's so freaked out about. >> i thought i missed something like did elon say something or do something? >> i was like what did he do? he's a really wealthy businessman that makes life, you know, i don't know. he's really nice. i'm excited. >> he's got some really really

cool guests, we have regina king , we have an amazing season of guests. >> and now elon musk is going to be on. >> yeah, it's going to be exciting he's the richest man in the world, how could you not be excited for that? neil: i still don't know why the controversy over that, but joe piscopo might, a radio talk show host of course one of my favorites, and iconic snl cast members. joe, what do you think of all the fuss over this? >> i think you called elon your personal friend and said i think you should do snl. did you, neil? neil: i don't understand it, joe it's funny, but it's weird, because i guess the last billionaire they had on was donald trump, you know? that was long before he became president, but maybe there was some controversy, i've never seen anything like this. >> me neither, and i'll tell you what.

this is going to be great and i'm so looking forward to it, and the fact that this guys like , i mean for lack of a better description, to help out pete davidson, he's like the thomas edison of our time, elon. he did the rockets, he's got the tesla, he's mr. green new deal with the tesla, you know? so i think it's spectacular. i can't understand why people are complaining because number one, if you're working now day, neil cavuto, in this economy, you're lucky to be working, and the cast is working making pretty good money i think so they should let and what pete said and michael chase said, they are welcoming, and i know that adie bryant had some problems with it. i think it just went against what was woke and that is making money, so everybody has got to settle down. i think it's a smart move. this is a great business move. i listened to jackie before i came on. what's the dogecoin? i had no idea what that is. i'm going to go get some, neil. neil: [laughter] you know what's weird though, it

has expanded the pool of potential hosts, we've had politicians on, obviously actors and singers and all the rest, one of my favorite shows was when adele was hosting and that's a whole other issue but i point here is that we should welcome this. its made business cool. >> i tell you what. you you are so on the money with that deal. if mike lindelle can go on jimmy kimmel, if joe piscopo could come on neil cavuto, elon musk can go on saturday night live. we have to calm down and really kind of join the two. all the businesses together, all of the lifestyles, everybody has got to calm down and we could do this. this is a great, great idea. i think this is really shows the genius of lauren like michael and i won't forget when you stepped up for me, no one wanted me at the reunion, neil cavuto stepped up for me and i won't forget that and i know it's an italian thing so i

appreciate it, but -- neil: [laughter] >> i mean -- neil: they lost the envelope, joe, they lost the envelope, they found the envelope, you were there, you should have been there, you're one of the greatest that was ever there , singer, comic, you have it it all. you know, i do want to ask you though, do you know any of the cast members there now who had a beef with elon musk? was that an issue and how do they express that? they say we don't think this is a good idea that could ever come up like when you were on the show, many years ago, did that ever come up that oh, god, this was going to host, i heard after the fact some hosts who might have been jerks or whatever but nothing ahead of time. >> yeah, no. well, i opened my mouth once and it might have been with you, neil, i got into trouble so i've got to watch what i say, you know, but i can speak, because he's not around anymore, this is about the original cast, and this is legendary, that milton b

urrel went on, my time before your time, but he was like this comic genius, apparently, mr. television, and he hosted the original saturday night live, and boy, i just heard, and i'm just telling you what i heard, so i don't know for fact that they didn't like him and that milty was just not easy to work with but the show was great. the show was great. so it doesn't matter. if i may quickly, i'll tell you, when dick ebersole was running our show, he was the boss. like it or not he was the boss and we were soldiers working and if somebody came on that we didn't know, weren't crazy about , we just did the show, so and we were grateful to be there , you know? so i think that's the sentiment of the cast now, but this is, i tell you what. this is a great booking and you got to give his bookers credit for it because this is going to be, trust me, the highest rated show of the year, easy. neil: i think you're right. we'll watch it very very closely joseph, thank you. keep your great success going,

my friend. you're everywhere. >> i love you, and dogecoin i'll call you on that later if i may, neil. neil: please do, please do. all right, all right, watch how those investments do after elon musk. we have a lot more coming up, 34 minutes after the hour the dow continues to sprint along so they are worried about elon musk and snl and a rocket falling on their heads so they aren't showing it are they? after this. my husband and i have never eaten healthier. shingles doesn't care. i logged 10,000 steps today. shingles doesn't care. i get as much fresh air as possible.

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neil: all right, the jobs report that has some people saying we're really slowing down, we got to worry, others saying it's fine, there's nothing there to worry about. the read from the former labor secretary of the united states, eugene scalia, who joins us now out of washington d.c. always good to see you. >> good to be back, neil.

neil: glad we squeezed this interview in today, secretary because tomorrow with this rocket potentially hitting, you don't know what the heck is going to happen so i'm very glad to have you. let me ask you about the report itself. the administration isn't worried at all. are you? >> i am surprised by the number s that we saw today. i'm disappointed and, neil, i guess i am a bit concerned as well. as my successor, labor secretary walsh said, this is progress. we are moving in the right direction, in ordinary times adding 270,000 jobs is very very strong, but the expectation was higher and i think we should have done better. i do want to make one really important observation about unemployment numbers right now, which is that this national number does not accurately describe what is going on in a lot of the country. we'll see the state unemployment data in a couple of weeks, but

what that's been showing for more than half a year now is that some states are doing much better putting people back to work than others. about half the states actually are below 5%, unemployment right now whereas this national number is 6.1, so, this is not a good description of what's going on in much of the country. i think it's driven substantial part by problems in our largest states. new york unemployment last month we have data 8.5%, california 8.3%. that is pulling up the national number, i think part of the story here may be that these more regulatory tax-oriented states are not yet doing their part in putting people back to work compared to say florida, where unemployment is 4.7%. neil: yeah, and the numbers, you're right on that. they are also the states that have had and are coming out of

the toughest restrictions of all , whether you're for or against that and obviously stim eyed job growth in the process and we mentioned and juxtapose that with a state like montana if you think about it, secretary, 3.8% unemployment. the governor there saying he wants montana out of this federal employment extension benefit of $300 a week , because it's hurting employers, and it's putting a cap on the available workers who would otherwise be looking for work. what do you think of that? >> well, if we look back to just before the pandemic, when i would meet with business people, invariably, the single-greatest concern they had was finding workers and finding skilled workers, and that concern actually, in much of the country , did not change all that much during the pandemic. there were large parts of the country where businesses were continuing to look to hire, still finding it hard. we now have 7.4 million job

openings, that is an enormous number. when we got over 6 million, two or three years ago, that was big news so we have a very high number of job openings, why is that? i think there are a number of factors but one undoubtedly is we are continuing to pay some significant number of people more not to work than they would get to work. you know, more broadly, neil here is what i would suggest. not that the biden administration is looking to me for advice, they have the ball now, but i think that if i were in their shoes, i'd be asking myself this. how do i get back to the economy that we had pre covid? that's a simple way of framing the question, because that was an amazing economy. i think if joe biden could run again on 3.5% unemployment, wages growing at 3% or more, that is so strong and it was an inclusive economy that was particularly good for minorities

and working women. how do you get back there? well the way we got there, i believe, is through president trump's tax policies, his de regulatory policies. one of the reasons this number or this month concerns me is possibly, it's just one month, but possibly, it's an indication of some business pullback because of what they're hearing about upcoming tax increases and a pretty ideologically driven labor agenda right now, so i think those are questions they need to ask. how do we get back to the pre- covid economy which was so strong. i don't think you get there by having the opposite of the policies that were in place when we arrived at that very robust economy. neil: they say just the opposite it's the darndest thing. secretary, thank you very very much, eugene scalia, former labor secretary of the united states. want to turn to politics with our charlie gasparino and a big texas donor that will feature the former vice president, mike pence, and one chris christie

the former governor of new jersey. what's going on, charlie? charlie: and tim scott and marco rubio, as you said mike pence. i mean, this is what is known as a beauty contest for the 2,024 republican nomination. how do i know about this? i know a lot of rich guys in texas, big wall street types, businessmen. they've been bombarded with requests to give contributions and they have been given contributions to christy, to rub io, to mr. desantis, there is the all-star list, starting outfield, tom cotton, mike pompeo. noticeably absent though from this beauty contest for 2024 is donald trump. i found that pretty interesting, so did a lot of the donors but you know, neil, i just listen to mr. scalia before, great respect for him, and what we're going to see some of the same talking points he mentioned there, about the biden economy right now, and how businesses might be pulling back, because

they are worried about tax increases. you're going to hear a lot of that at this conference, it's from what i understand heavily economic laden, also talking about how the president's policies are making, providing disincentives for people to work , right? if you can get paid more money sitting at home and hanging with your kids, and trading cryptocurrency, why go to work? and that's kind of what we're seeing right now, because there's a lot of job openings. all you have to do is talk to a small business person, particularly in new york. you'd think new york could find workers like crazy. i talk to restaurant owners all the time. they can't as it's starting to reopen, so neil, this is going to be interesting this conference. you know, my facebook, my twitter feed is kind of interesting in the sense that the reaction is like all these guys are boring except for chris christie. um, the former new jersey governor i will say this. if mr. desantis is boring, a guy that has no problem taking on

the media, who withstood tremendous pressure to close down florida during the pandemic, and came out so far ahead, that's pretty good boring, neil? and by the way one other thing -- neil: yeah, you're right about that. charlie: elon musk is not the richest man in the world. it's jeff bezos and number two i hear is neil cavuto. then musk. neil: i don't think so. so jeff bezos is number one, elon musk is number two is that it? charlie: there's some guy in the middle a french dude. i can't remember who it is. neil: that's right and then bill gates. charlie: but those three, and depends on the stock market too. neil: it does, and that particular divorce agreement. thank you, my friend. great job. we're going to explore the great reopening going on in this country, a lot of companies saying we're doing everything you wanted us to do to get opening, and you're not letting us open. why that is happening in the cruise industry, and the

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>> welcome back to "coast to coast" i'm lydia hu, here at yankee stadium one of the states mega vaccination sites in new

york, people coming to get vaccinated they have in hand a voucher for a free baseball game part of a program being rolled out by the yankees and the mets to encourage vaccinations in the state and it comes at a time when the state's vaccination rate is around 47% for people with at least one dose, around 37% for people who are fully vaccinated get a shot and go to the game for free. now right now inside the stadium capacity is at 20% but that will change starting on may 19. there will be different sections for fans who are vaccinated and those who are not, and vaccinated sections will offer seating at 100% capacity, those who are not vaccinated will be in a separate area, six feet of social distancing and a capacity restriction at 33%, but just how exactly the separate seating will be enforced is not crystal clear at this time. the teams both spoke at a press conference on wednesday to explain their developing those policies and how they are

going to be implemented now with more information coming to ticketholders in the near future we do know at this time that spectators and fans will have to provide proof of their vaccination status to the stadium in order to be able to seat in the vaccinated section if not they will be seated in the unvaccinated section, masks will still be required as everyone who will be entering the stadium to enjoy a baseball game regardless of whether they have gotten the shot and also important to note, new york, it's not original in this policy it's actually following in the footsteps of california, the la dodgers have a similar policy of separating the vaccinated fans from the un vaccinated. neil, sending it back to you. neil: all right, thank you, lidia very much, back with luke lloyd and ann berry. luke if i could begin with you on the impact of all of this , we've got inconsistent reads from various states and cities this is the kind of stuff that drives americans nuts, what do you think? >> yeah, absolutely. so talking about the baseball

game, why would they separate vaccinated people from un vaccinated people? shouldn't they put them together to slow the spread there? because vaccines are supposed to work right? here is the thing, for me, i've had the vaccine both vaccines, i've had covid and there's a lot of people out there just like me they've had the vaccines, they had covid, they have some immunity . people want to get out there and they want to travel and go places. they want to spend money. reopening party is just getting started and i think there's a lot of room to go. we just need to open backup. i don't know why we haven't fully opened backup yet. cases are down, deaths are down, the vaccine is getting distributed 50% of people in almost every state for the most part are vaccinated right so i think we need to open backup, get the economy hot, the stock market will go higher as well, and that's going to look good all around for the future. neil: you know, and he does have a point when you talk about the number of businesses including the cruise lines which has bent over backwards i think in royal caribbean's case and

norwegian cruise lines, where they are vaccinating all their workers and everyone who comes on their ships. this is provisions in effect, plexiglass everywhere and yet the cdc drags its feet. that doesn't add up. what do you think, ann? >> yeah, it's really hard there , but it's not just the cdc what the norwegian cruise line ceo said one of his big issues is trying to sail out of florida for example. even though norwegian wants to do the best it can under desantis' rule, norwegian wouldn't be able to request the evidence of vaccination by the passengers onboarding in that particular state, so one of the big issues is consistency. i think that businesses can plan when they know what the rules are going to be, but those rules are aligned across different states. it doesn't matter if it's full reopening or partial reopening. as long as they know what they are dealing with they can try and find creative solutions but it's the lack of clarity making life very difficult for american businesses to find it right now. neil: luke, real quickly, we get

this whole covid thing behind us, and whatever, you know, immunity or whatever you want to call it. it's off to the races, to me, at least. what do you think? >> oh, it's definitely off to the races, and i talked about this before, you know about 45 minutes ago, how that bad news is good news for the stock market, for the data it's like l morisng,isngng theng's are'sd's oo ns,ewight rig??? h we weoth b sid s ihi ththveat ove oveve thecomymys g golog .log j c'tantall stll it itit whi ww iaifou k yw,no po cipoli froliliov gennmt, given g outort more mononeyey tghmus,luu ra t,axesn,ea tse l ings inre a a goi a a a to a a ndnd sndwndwndw trowt tro i trot th econe yon sosehere a fortrttch wut o o f in i iourouo il: neah,ah oyy tyhiyha coul ru it i isss thes tket falling on ourururut lly tllhat won'tappen,n, vel orefter this. s. [ evng ] ce lht cdown ]

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neil: all right, time to make some money and here to help you with that is my buddy charles payne. hey, charles. charles: hey, neil, thank you very much, my friend, good afternoon, everyone. i'm charles payne, and this is making money. breaking right now, it's being called the biggest miss in history, april's jobs report, not even close to what many envisioned particularly the experts but you don't have to be an expert to know that people will choose higher income over not working, is thises wake up call against a progressive eutopia that everyone has been warning about and will president biden actually listen? the news eased up the high point inflation and higher rates sending stocks soaring particularly those mega growth names that have been stalled