this is "nightly business report" with tyler mathisen and sue herera. >> getting to work. the already solid american job market got even stronger last month. but there's still one big problem. e- putin. meet for the first time and global investors listen closely for signs of tension or progress. >> writing on the wall. graffiti artists unow, one is u her talents to run a growing business. those stories and more tonight on "nightly business report" for friday, july 7th. american employers did more hiring than expected last month. that's good news for job hunters and investors who saw stocks

climb on the report. the u.s. economy added 222,000 the in 174,000 expected. the unemployment rate tick ed a little higher to 4.4% but only because more people joined the workforce. even though jobs appear plentiful, there is still one thing missing. pay raises. hampton pearson has more on the nation's employment p picture. >> job growth was widespread and back on track in june. the hiring included 187,000 private sector jobs as well as big upward revisions for april and may. the unemployment rate ticked up slightly to 4.4% because more americans began looking for work, but not all got hired. economists see a job market that's still expanding. >> i see an economy that is solidly performing month after

month in a very stabi agree the run. >> but wage growth remains stagnant. hourly pay up just 2.5% over the last 12 months at $26 an hour. meanwhile, job openings topped 6 million in may, an all time high. it appeared the influx in job seekers last month off set pressures to raise wages. economists say when it comes to wages, employers have most of the leverage. >> workers are very much alone in this economy. the union movement has decimated the private sector. negotiating one worker. >> hiring was broad-based with health care leading the way adding 37,000 new workers. another 36,000 found jobs at restaurants and hotels. government added an unusually high 35,000 new employees, almost all of them at the local level. and for the first time since january, the retail sector added jobs.

8,000 new hires. for the moment, it's the best of both worlds for the federal reserve. >> i think it eliminates a lot of the recession discussions some were percolating in the last month and solidifies market expectations on the fed. >> those same leaning economists say it's not the fed, but the fate of things like tax reform, health care and infrastructure spending here on capitol hill that are the real keys to longer term economic growth. for "nightly business report," i'm hampton pearson in washington. mark zani has more on the labor market and economy. he's the chief economist at moody's. welcome back. >> thanks, sue. >> as he mentioned and i think you would adpree, there was strong and broad-based job creation. but we had upward revisions for previous reports, which seems impressive. >> very solid report.

average monthly job growth so far this year is 180,000 jobs. that's just about the same rate of job growth we got last year in 2016. so, the job market cometh and nothing is changing that. it's humming along here. >> why are there still so many unfill ed jobs? >> well, we're in a record f unfilled jobs, tyler. businesses can't find qualified workers. we have a 4.4% unemployment rate. underemployment has declined to below 9%. these are consistent with an economy at full employment. so -- >> we need more -- >> we do. the only way to solve this need, m is businesses are the only solution at least in the foreseeable future is to allow for more foreign immigration, which that doesn't stay with the current political environment, but really the only way.

without that, given the retiring w participation rate in the past six months to a year or so, it's been worrisome, low, is it improving? >> it's stable. so, it hasn't moved for three or four years. it's just under 63%. you know, actually quite an achievement given that the baby boomers, 50s, 60s and 70s, is retiring. the force would fall two or three cents, but the fact it's stable means the fact we're , but now are er workers who finding jobs that are suitable and are stepping back in. so the participation rate is stable. i don't view that as an issue. >> you sort of characterize the labor market as tight and likely to get tighter. that would suggest that gains would get greater. what is stalling them and do you expect growth to accelerate?

>> yeah, i do. first point. wage growth is accelerating. the average hourly rate that we look at in this report is probably the worst measure to look at. some of the better measures that account for the composition workforce sh a clear acceleration. now, it's slow, it's slow r than it has been, but it is accelerating. but i think we should expect wage growth to be less than it has been historically for two reasons. one, inflectiation is lower. secondly, underlying productivity growth is slower than it has been historically and wage growth and productivity growth need to go hand in hand. so i think the normalized level of wage growth going forward will be lower than we sl v experienced. >> have a great weekend. thanks again for joining us. >> you, too. >> well, stocks started the day higher and pacically stayed th following the release of the stronger than expected employment report. gains in financial stocks off

set losses in energy companies which were pressured by a drop in the price of oil. on the last trading day, the dow jones industrials advanced 94 points to 21, 414. s&p 500 was up 15 for the week. all three major indexes were fractionally higher. the federal reserve release ed its outlook for the economy days before janet yellen is scheduled to give her semiannual report on monetary policy to congress. the central bank stuck to its script saying economic growth will be steady, but slow. it's also calling for a gradual increase in interest rates continued gains and it will begin winding down its balance sheet this year. the fed chair is scheduled to testify on wednesday and senate on thursday. historically, this report has been released at the same time as the hearing. >> it may be the handshake heard around the world.

president trump and russian president putin met in person for the first time today. the meeting took place on the sidelines of the g-20 summit in hamburg, germany, where leaders of the wealthiest nations are meeting. eamon javers has our report tonight. >> it was the most highly anticipated meeting of the g-20. president trump and president putin addressed reporters before their closed door cop vnversati. >> that's a ve good talk. we'll have a talk now and obviously, that will continue. i look forward to a lot of very positive things happening. russia an the united states. and for everybody and it's an honor to be with you. >> in an off camera briefing following the more than two hour meeting, secretary of ste rex tillerson said the conversation was constructive. >> we're unhappy, they're unhappy. i think the perspective of both

of them was this is a really important relationship. two largest nuclear powers in the world. it's a really important relationship. how do we start make iing this work? how doe live with one another, work with one another, we simply have to find a way to go forward. >> the u.s. russia and jordan agreed to ba fir in southwest earn syria, a topic tillerson said the two spent a substantial amount of time on. they also discussed north korea, how to address cyber threats as well as russian interference in the 2016 election, which tillerson said putin denied. >> two leaders agreed though that this is a substantial -- and the ability of us to move the russian u.s. relationship forward. >> all those conversations taking place behind closed doors here, protesters roam iing the n bottles and urning car confronting police and intersection after intersection

throughout the downtown section of hamburg today protesting against global capitalism. >> still ahead, buy and hold. are you looking for stocks to own for the long haul? our market monitor has some names that are not too expensive and volatile. are you fluent in more than one language? if the answer is yes, there may be job opportunities for you for years to come. kate rogers is outside united nations in new york city with a look at where the jobs are.

>> finding the rhythm of language. >> she grew up fascinating by foreign languages. and decided in high school she wanted a career in translation services. >> i'm a complete word nerd. i'm a language enthusiast and i realize back then that i wanted to learn the english language. the nuts and bolts of it and i wanted to learn it to almost perfection, if that's possible. >> nearly three decades later, she's still at it, working a translating english into german for automotive, medical, electronic and tech companies. as a certified translator with the ata, maintains her credentials by tanding conferences, workshops an continuing her education. >> if you have the specialization and training, education, experience, it is definitely a demand. for very highly trained

translators. >> due to increased globalization, companies and organizations like uniteded nations are seeking skilled translators and ininterpreter tors. the ata says in the past few years, the number of people working in translation has doubled. opportunities are endless. contracted positions are becoming increasingly popular, gifing companies more flexibility. skilled translators can easily make six figures annually a will the of companie recognizing that there are a real benefit to offering their products and services in another language. they're responding to the demand out there as the global economy becomes more inter u.n. is look up to 50 or so new translators to add to its ranks of 450 translators, editors and reporters in new positions at the u.n. are highly coveted and translators work on tight deadlines. she previously worked as a translator in a peace keeping mission in lebanon.

today, she's translating documents in english and french into her native air bik. the pay doctors off is greater than one's ihi the best part of job is the multiculture and environment different cultures, backgrounds, genders and age groups. and i think this is enriching on the professional and the interpret. >> i'm kate rogers, rk. >> to read more about these jobs, head to our website, nbr.com. boeing seeing a drop in jet deliveries. that's where we begin tonight's market focus. the giant said it delivered 16 fewer planes in the second quarter compared with the same time last ye company also said it received more than 200 orders during the same period. boeing shares road a fraction to 202.37. zblnc it was close, now, berkshire hathaway way has agreed to pay 9

billion for the energy future holding company, one of the nation's biggest power transmission outfit, but berkshire may face competition. elliot management is considering a rival bid. berkshire hathaway finished up 25$,00 mondoleze said the cyber attack would impact its final results. the maker of oreos and sour patch kids said the shipping it experienced would cause revenue growth for the second quarter to fall 3%. the shares were none the less up 16 cents on the session to 43.22. sears is closing more stores. they said it will shut eight sears and 35 unprofitable k-mart stores by early october. sears also said it will continue

to open smaller constant stores, which it focus on its strong erakat cats. the shares were off to $7.78. rothwell collins is raising exp new buyback program by authorization to cover buybacks into 2018. shares were unchanged, but finished up nearly 1% to 106.36 and the mobile software developer said last night that it may consider selling itself. the company said if the board of directors is evaluating alternatives to maximize shareholder value. the shares were up 4% to $16.54. >> now to our market monitor, who likes large cap names could be less volatile and cheaper than their peers in this market. last time he was on in november, he recommended microsoft. it's up 18%.

johnson and john johns, 11% higher. cisco flat. andy is director of research at regent atlantic. nice returns on two out of those three and cisco is just kind of sitting there. what do you see, you like low volatility. is that a suggestion that you pick up?a >> i think it has picked up over the past few weeks. segment of the market we call them the fang 2.0, facebook, amazon, netflix, google and now, tesla, too, have really seen a surge in their share prices and valuation, but no corresponding surge in their profitability and that creates a very interesting disconnect. it means when they fail to produce or have any negative input whatsoever, even small disappointments like we've seen in tesla, we could see -- >> pulls the rug out. >> exactly. it does. >> the names you have for us tonight are large companies. but they're basically in a better valuation than their peers. and citi is your first pick.

why do you like it? >> i like citigroup a lot. they have lagged behind its peers like a of other banks. what's interesting about citi is they're a completely different they we in 2008. in 2008, they had to take on new equity capital and what did that do? hurt their existing investors. resulted in them getting a smaller share of the pie. they have much better capital. if you look at the federal of all the major banks just last week and citi passed with flying colors. they have great news for citi investors. that's the green light for citi. >> exactly. >> number two is total. the big french oil company and why do you like it at a time when oil prices to put it kindly, have not been rallying. >> i'm not an oil bull myself. why would i recommend an oil stock? because i'm not an oil bull, but

i'm relding total. there are oil compane that need oil just to break even, just to be able to keep their doors open for the next few years. total is not one of them. at the super major, they have a low cost to produce. they also diversifdiversified. now, they get the oil out of the ground, they refine it to the end product. >> all right, we're going to finish up with apple. a company that many -- >> never heard of it. >> it plays no role in our life whatsoever. it is the major player in the smart phone market. >> it is and it starts with the -- in human history. so, why would i recommend? it's profit bability is high. compared to other major technology stock, even microsoft and cisco, which i believe are good values. so what's the trip for apple? what does apple need to do? they need to, this is the tenth anniversary of the iphone.

to create, need to contribute and continue to really create a product that -- >> how much do you think a stock like that like apple would have? >> you know, upside from growing earnings. it's more about upside from maintaining. which is easier to do. consumers are fickle, be but they love their phones and get to upgrade them every two years. >> there we go. >> we have to leave it there. thanks very much. regent atlantic. and coming up, graffiti once a symbol of urban plight, is now the corner stone of a growing business that started with a bright idea. one entrepreneur's story is next. more than $5 million worth

of baseball memorabilia heads to the auction block for the mlb fan fest auction. we got a look at this growing class for collectors. used bat that reactually used. this would be worth a a six figure price. what's really unique about this example is it's signed by babe ruth and lou gehrig. to our knowledge, the only game by both players. estimateded at 3 to $500,000. >> selling a baseball card? >> we are. >> how much could a baseball card sell for? >> this one, mickey mantle's rookie card, 1952, 3 to 500,000. >> half a million dollars? for a baseball card. >> again, we're talking about an iconic, blue chip leet. american sports hero. brings people back to a time they enjoy. >> gold p gloves. >> pretty unprecedented to have this many in one place.

along with willie mays, the only two outfielders to win two. >> each of these, how much? they're estimated at 50 to $100,000 each and they'll be sold individually, so now the game becomes when up from the other part e by the first one and then succeed from there. pieces of a similar nature to see how the games manship will occur. and late last week, charlie sheen auctioned off some of the most prized babe ruth memorabilia for roughly $4 million. the items included ruth's 1927 world series ring and the 1919 contract of ruth's sale from the red sox to the yankees. graffiti mushroomed in the 1970s and '30i8s and much of is still around.

indell bable marks around the world. and a new york city woman who once painted illegally at night is now finding ways to use the lessons she learned in graffiti and the skills she developed to build a legitimate business. >> we can cut it right to the edge. >> 25 years ago, claudia gold, aka claw, never imagined a business rooted in graffiti. >> i would say you're crazy. i'm a criminal. >> and she was. the 2005 documentary infamy peeks at her 15 years on the run. multiple arrests for decorating, some would say defacing everything from walls to trucks to security doors in new york she was a renegade and not only because of what she calls her art. she was a woman in a male dominated graffiti ca fi cultur.

>> it prepared me to better handle business. your way up. understand hard work, being the best you can be. >> claw began painting the word claw in the late 1980s until one day, she noticed that someone had painted over her work. >> he left the w. hanging out. and it was like one of those a ha moments where i said, i don't have to write my name anymore. >> painting thousands of claws over the years, gave claw a reputation that claudia gold longed for. working by day with fashion designers as a stylist for films and photo shoots and as a magazine fashion editor. she still sells her own vintage clothing at claw and company's two and a half-year-old store on manhattan's lower east side. in the early 2000s. claudia gold's world began to merge with her alter ego's world. friends suggested put iting the

claw on t-shirts! 2 in a friend's store and he called me back the next day and said they were all gone. all of a sudden, i had a business. >> soon, claw merchandise was selling. >> these were all the rage. kanye was wearing them. rihanna. >> gold says her wholesale business did a million dollars in seas in 2007 just as the hip hop crowd brought street wear in. sneaker brands, street cred began reaching out to her. >> this was a second followed. heads turned. deals with fila, vans, uggs and others. she's even designed a nascar and now in some places, painted walls are becoming desirable. starbucks paid claw to do a wall not far from her store. >> i'm charging upwards of 10k per project and it can go up to

1 is 00. >> claw is a lenlgtd. >> legend. >> she inpyred a local approvals last year aiming to make allen street a public gallery. in just eight months, the new allen project put up about 35 murals. london's street artists painted a seven story stick on allen street. >> street art is the biggest in the world ever in terms of the number of people involved and number of people it reaches. we are part of a very important street. >> a time giving artists who began working in the shadows, at least a measure of daylight. >> graffiti is a huge art movement that will be looked a. >> time will tell i suppose. claudia gold says she may be doing a wall for nike at its cory rat campus and stick's work

has sold for tens of thousands of dollars, selling some of the prep work for the new york city wa that help fund a program that teaches newcomers to speak english on allen sfreet, the avenue of the immigrants. >> what anthough very interesting. that's "nightly business report" for tonight. i'm sue herera. thanks for joining us. >> thanks from me as well. have a great weekend, everybody. seyo

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