and to the labor movement? >> to me personally, it is meaningful because i came up through the labor movement. i started at 23 years old in my local, as an organizer of clerical workers who are predominantly women. so i know what it means to see a woman in leadership, how inspiring that can be. i take it with great responsibility, the women's shoulders i have stood on. i think of the women organizers and activists and leaders over time who have paved the way, and it is an incredible opportunity and responsibility that i take very, very seriously. i will say that women are half the workforce. we will be half the labor movement officially in a couple years, and so i think it is incredibly important to signal that the labor movement is a movement for women. not many people realize, as i set off the top, that 6.5 million women in the labor movement, we are the largest organization of working women in the country. not many people see us that way. i think we need to do more to show women that the labor movement is fo

labor history since the

, the fair labor standards act of 1938 prohibited child labor and guaranteed minimum wages and overtime, as it does to this day. bessie was there as every aspect of the new law was tested. during her first few months on the job, her work brought her back home. [inaudible] love bessie's local girl story. one photo captured her in a pose -- [inaudible]. why wasn't she married the press reported? one said her response in this way, i haven't had time for love. but i'm not immune. i'm just uncontaminated. bessie's remarks was witty, like a line from a hepburn movie reviewing bessie's passion. second she wasn't self-conscious about being single. and third it just wasn't true. to find out about bessie's pension for passion that further derailed her chances for a federal judgeship, you are going to have to read the book. the drama of bessie's personal life never impeded her work. in her early years at the labor department, she paid her dues reviewing time sheets in damp warehouses and traveling back roads to interview vegetable pickers, packers, and log cutters. she began arguing and winning ap

labor movement.r faces the increasing threat of killer chemicals. >> well, when i became ill from picking fruit and they took me to the hospital in the ambulance unconscious. i stayed there nine days and brought me home. for two weeks after i got home, i was sick in bed. i couldn't do any work. >> i was in the hospital for nine days with poisoning, and when i come home i wasn't able to do any housework for four months. >> i contracted poisoning while picking lemons in an orchard. i became dizzy, sick to my stomach, and passed out. and the ambulance picked me up, took me to the hospital. and i was in the hospital for nine days. it left me with a dizziness and a bad balance. and i haven't been able to work at anything since. >> school history books do not record the struggles of farm workers to organize unions. wheatland is a small town in california near marysville. in 1913, the pickers near the durst ranch held a meeting to protest low wages and unsanitary living conditions. sheriffs deputies fired i

for this member of the organized labor movement a total of $5.73 an hour.nstruction trades earns about $5.60 an hour. unorganized stoop labor and agriculture was paid from $1.10 to $1.40 an hour. the iron worker earned $5.70. the farm worker $1.50. the pattern is clear. now in if ' -- now, in the '60s, farm working is getting some attention from the top leadership of the american labor movement. but it is still less than the job requires. never in the long history of the struggle has farm labor been given the immense amounts of money and organizational support needed to ensure success. the same effort has not been put into organizing farm labor that went into organizing the auto industry, the steel industry, the rubber industry and oil industry in the '30s. small scale organizer drives have done little more than create the illusion of helping farm workers. the well padded official has for the most part kept its back turned on the most poverty stricken group in the nation. for half a century the agribusiness lobby has been a constant roadblock in the path of

fair labor standards act of 1938. child labor intensive minimum wages and overtime as it does to this day. bessie was there in every aspect of the new law was tested. during her first few months on the job or work brought her back home. the new orleans press loved bessie local girl made good story, one full-length photo showing her in the middle captured bessie and a pose more cheesecake men lawyerly. why wasn't she married? the press demanded. one report recounted bessie's quoit response this way. i haven't had time for love, but i'm not immune. i'm just uncontaminated. bessie's remarks, first it was witty like a line from a katharine hepburn movie reviewing bessie's passion. second she seemed neither defensive nor self-conscious about being single and third, it just wasn't true. but given today's time constraints to find it about bessie's penchant for passion that prompted several federal investigations and for the derailed her chances for a federal judgeship, you're going to have to read the book. the drama of bess

it all meant dramatic growth for the knights of labor. they had 100,000 members, by 1886 they had 700,000 members, but this would be the knight's high water mark and one reason for the decline is the first of several spray famous but very telling episodes within american labor relations. we can call them really explosions in the gilded age, and that is the hay market affair. there was a strike at the mccormick reaper works in chicago on may 3rd, 1886. they were calling for an eight-hour day. there was violence between strikers and police, shots were fired and at least two workers were killed. there were anarchists in chicago and they said this violence, to us, is a wonderful example of our broader critique of american capitalism and the american system and so we want to take advantage of this moment to use this tragedy in order to demonstrate to people the validity of our arguments. so they called for protests beginning may 4th. the protests were well-attended by the working classes, especially german immigrants. there was a large turnout

in terms of labor markets, labor markets are improved better than i thought they would at the beginning of the year. i also think that we will continue to make progress there. we will see better labor markets as more people get vaccinated, as more people can be engage in economic activity. that is where i see things going in my baseline. the delta variant, we see in places that don't have vaccination rates that are high, we see delta creating real problems for people. we have to still be humble about our ability to forecast the virus. the economy does depend on how the virus plays out. my own view is that we have learned to navigate the virus. we have a tool, the vaccination, which can really help us get through it. i am hoping that more places will have vaccination rates that move up, so that we can continue to engage with the economy, but we will have to see. policy is positioned to take the time to look at that. mike: that is a good way to leave it. loretta mester, president of the cleveland federal reserve. this is bloomberg. ♪ romaine: i'm romaine bostick. this is bloomberg's real

labor force. but as was pointed out, the technological and people pointed out about the current situation, for substitution of capitol or labor depending on which developments and depending on response to the pandemic. how much do see this or automation affecting labor supply are you see that not happening in the sense that you write about. richard: adam, i would put me in the camp of believing two things very strongly. i do think there will be long-term secular implications of covid-19 including along with the mentioned that we mentioned it. but i also right now have no confidence in my ability to identify with their will be and what they will mean for our outlook perhaps somewhere in the camp that bob solow was 30 years ago that we see computers everywhere except in the productivity. it took a while and it happened and that may well be true but as a policymaker, i cannot have a confidence making policy on forecast of an inflection point in technology or capitol labor substitution so something i'

the labor movement must grow.his means the resources have to be allocated, have to be invested in organizing. there has to be a massive campaign that are coordinated among different unions and by industries. one of the weaknesses of the american labor movement has to doith the ct that it is not organized industrialy like it is in many other advanced capitalist countries across the atlantic, in europe and other countries. the question of organizing by industries will require a new architecture for the american labor movement that the federation has the lead in terms of that. in terms of political action there is a need to develop a new strategy that is far more independent from the democratic party. it is important to realize that there are elements of the democratic party that are supported by corporate donors and don't have a very serious commitment to empower workers and the working class. on the other hand,here are people within the democratic party who see themselves as working-class advocates, who fight for t

labor force. it has been pointed out about the current situation, the possibility for substitution of capital for labor depending on wage developments, depending on the pandemic. how much do you view this threat of automation affecting labor supply or do you see that not happening in a way you are worried about? >> i am in the camp of believing two things very strongly. i think there will be long-term secular implications of covid, including a lot of dimensions that you mentioned. i also write now have no confidence in my ability to identify what they will be and what they will need for our outlook. perhaps i am somewhere in the middle. as a policymaker, i have not have -- i cannot have confidence of having a forecast of inflection point in technology or substitutions, certainly something i am following closely. on a secular basis, looking out 10, 15, 20 years, we're going to have an aging society, so i would imagine that would be part of where the economy evolves, but in terms of that, that would

it is labor markets and it is inflation.e labor market side it is contributing to accelerating, mostly the taper discussion. i think the fed will do a lot to separate taper from tightening. that is the main takeaway. i want to add there is some little piece of information that participation rate did pick up .1%. that is helpful. we will be focused on that participation rate as we roll off the rest of the unemployment insurance, whether the supply-side starts to ease and we start to see the labor market grow from that. lisa: does this report change the balance of risks with respect to overheating in the economy are going into more of a stagflationary environment? jeffrey: i do not think it does. i think you've had that balance of risk. look at richard clarida does speech from a couple of days to get -- look at richard clarida's speech from a couple of days ago. he highlighted inflation. there are hawks and doves in the market. i think the balance of risk to higher inflation is something we had before the report, but certainly

>> in forced labor? absolutely. >> this is where it's stored?ere, every shirt, every pair of pants, comes from xinjiang. >> more and more are coming? >> more and more are coming. >> reporter: now must be screened by u.s. officials. >> there are 1,000 cartons today in this container. gone to some discount store, a consumer would have bought it, never knowing the new shirt they were putting on their back was the result of slave labor over in china. >> reporter: whoever imports these items has 90 days to claim them and cooperate with the cbp's investigation. if they don't, the items are either sent back or destroyed. the chinese government calls these allegations of forced labor an outrageous lie. >> so-called genocide, forced labor, are lies of the century. >> reporter: the chinese embassy in the u.s. has evaded repeated requests for interviews with abc news. instead, they sent us a link to a statement saying some uighurs were part of cotton picking forces. they work together, care for each other, forged a deep friendship. these cotton pickers in

why we see labor supply being constrained.f those factors are more short-term in nature. we have concerns around health that are lingering. we have caregiving responsibilities that we think are likely to fade as schools reopen. we have the effect of supplemental unemployment benefits that expire in september. as we see things like that subside, labor should open up step that should begin to take some of the pressure out of wages as well. jonathan: what if it doesn't? you're looking for 3.3% unemployment year and next year. after that, you think the labor supply starts to continue to return in a way it often does. from your perspective, what would happen if it does not? what is the risk and what does it mean for policy? >> that's an important question. we have to lay out encz marks for what we are watching for an labor supply and job growth. our base case is that we get the strengthen job growth and a strengthen labor supply expansion particular as we move to the full and the end of the year when we expect about two thirds of t

this is a very strong labor market. if you look at the number of job openings, expired to the number of unemployed, we're clearly on a path to a very strong labor market with high participation, low unemployment, high employment, wages moving up across the spectrum. that's the path that we're on and it shouldn't take that long in macroeconomic time to get there. so, that's what i think is really the likely case. and again, it's not timely for us to be thinking about raising interest rates right now. what we're doing is we're looking at our asset purchases and judging what is right for the economy and judging how we-- how close we are to substantial further progress and then tapering after that. the question you asked about would we raise rates if we hadn't finished the taper, hypothetical question. we'd face the circumstance at the time. one thing one could do would be just to cut asset purchases all the way to zero if you wanted to do that, but it's just hard to answer what you would do without knowing a lot more about

another 5 million are not in the labor force. we should be able to match the numbers on a pure basis. those job openings may not align with jobs that were on par with where these people were before the crisis. you don't want to take a job that would be low your skill level or your salary level. that could change your long-term economic trajectory. it's not as easy as matching the numbers. host: carol, on our line for others. caller: i don't understand. i am 68 and retired. i am living on a fixed income. i don't understand why they are not ccing that 300 extra dollars a week. what is the reason they would want to go to work if they are making more money than they did before they got laid off? i see jobs everywhere. i pay my rent every month. i saved money. i just don't get it. host: that is carol in new mexico. thank you very much. go ahead. guest: this is a very unique situation that we've been in in terms of the lack of certainty we have over when and how it is safer people to get back to work. a lot of people are making difficu

followed once again when labor troubles. most noteworthy in this time was a period known as the great upheaval. a sporadic series of events in many ways. in may of 1884 there was a successful strike by an organized railroad workers against the union pacific railroad. it capitulated within two days the worker said now they were on a roll let's join the nights of labor. let's make this a permanent fixture. in june of 1884 we saw the beginning of a major mind strike in the hawking river valley of ohio. 4000 workers, plus their families, the community, went out on strike. the strike lasted six months. the miners lost the strike about what is noteworthy about this is that once again a top them the usefulness of organization and coordination. if you go on strike, you don't get paid. the strike doesn't last long. you need to eat. but they were able to organize and raise funds. they had 100,000 dollar relief fund that enabled him to keep this fight up for six months. once again it demonstrated to workers, the values of organization.

good but how many people are going back into the labor force?ome people still have to be caregivers as we face the delta variant. matthew: right, so compared to before the pandemic, the labor force is still about re-.1 million people smaller, but that is dropping quickly. rates are rising rapidly as the job market improves. that improves as schools reopen and will hopefully normalize and we should see all those people getting back to work. it also isn't clear that the pre-pandemic was at its maximum in any case. we have had several million people who said they were not only in the labor force that would be willing to work if the job would become available. a lot of the employment came from the years we had the pandemic that were larger than the number of people unemployed, which meant the labor force effectively grew more than expected. if you think about the share of people who are working or who were working before the pandemic, that is still low relative to what it was in the late 1990's, adjusting age, so there is a lot of possibility for em

not all support free immigration, free trade and labor. the reasons are not about jobs or wages or high school dropouts for the most part it. >> when you're speaking of the news when you see what's going on with the u.s./mexico border people coming in, being sent out, the wall being built, what is your reaction? >> my reaction is we would not have as much of his and illegal immigration problem if we created easier past two legality, legal immigration that is for the vast majority the world it's impossible to immigrate legally to the united states and they say immigrate legally like my ancestors said they have a point i would like them to migrate legally to print you cannot migrate legally without a massive weight you might not even live to see if you come for most countries from around the world for the chances of winning immigration lotteries are minuscule. your ancestors could come here legally because we did not have restrictions. a lot with illegal immigration go away if you have greater legal checkpoints and not quantitative restricti

i appreciate the understanding for struggles or food, shelter, health, dignity of those who labor with their hands. perhaps my own back story explains my affinity. i grew up in working-class government housing in london. there is a single small bookcase with a paperback edition of mice and men was among its contents. that little book spoke to me with the directness thomas dickinson thomas hardy could not match steinbeck's advocate was him cursive nonetheless it was heartfelt and genuine and on and balance it served as a force for good and still can. as a transplant from another country who sought to find home in various places across america for 35 years, i am drawn to steinbeck as a regionalists who understand the power of attachment to place his value of having the ugly truth of how the most recently read californians sometimes develop their own sense of belonging by dehumanizing even newer arrivals a process of regionalism through reaction that remains alive and well across the west in america. i appreciate steinbeck is a chronicle of place his celebrated the decency and humanity of

guest workers to come in and fill the labor gap, the labor shortage in this country in the fields during war. and the program winds up lasting through 1960s. it made organizing farm workers very difficult. it's very hard to form a union that is effective when growers can easily bring in undocumented people or presaros to help break strikes. so that was problem, a tension between the farm worker history movement and the stories of undocumented peoples. a lot of you talk about this in your histories and i had many students talk about it. two other books that i think are important in trying to understand this history, marian paul, she's a former journalist for the los angeles times. her book, the union of their dreams, interviews through oral history a handful of people who were key activists within the ufw. it's a multi racial group. she interviews filipinos, mexicans, whites, men, women. it's a diverse book, right? so she captures their story and she tries to argue that in order to understand the history of the union, you need the stories of ordinary people, right? so that is one reason i

and labor violence. in fact, in 1919 alone, there will be over 36th sows and strikes in america. as you start to get into 1919, what you are going to start to see every day you open up your newspaper is one crisis, one issue after another, hitting you in the face and it never seems to end. something we can probably all sort of feel for for 2020. now, this starts in seattle, oh my god, it's always gonna be seattle. so, seattle was actually one of the most unionized places in the united states in 1919. it was the home of a lot of west coast shipbuilders. the shipbuilders had been hit pretty hard from inflation, and now the minute that the war contracts cease, their jobs are in question. to make matters worse, the government had imposed some wage controls of world war ii, so the ship workers, we're operating under contract, that lost wages in until 1920. now the ship builders, said look the wars over, that contract is null and void. but the ship owners disagreed. they like keeping those wages low. so on the

labor serving with his back to the wall . so after 3 and a half hours of hard-core tennis it all comes down to the sixth and final set. the spectators are seeing an all out game of young borg but a fifth set is all borg and we find labor 2points from defeat . so it's double match point, bjorn borg approaching one of the brightest victories inhis career . the pride of sweden has done it and on this night when they both played spectacular tennis he outlasted the great rod labor and the teenager is in the finals. he must wonder if labor will be back next year at 37to challenge him once again . the arm and arthur offered comments the night before the finals . >> this game i'm pleased to have my mother and father with me. for we love them, i wouldn't even be here. they made many sacrifices for me and i hope that my success pleases them and justifies those sacrifices. >> arthur ash was the final speaker of the evening. >> after listening to bjorn borg give what today is certainly his best speech -- [laughter] and after having been

we have to look at other pools of labor that are available. the public response to the idea of prisoners plugging the shortfall of that mix on social media and also on the streets, forced labor is morally wrong. an unpaid job merging animals on the killing reduction line wouldn't be 1st choice for paying them back. oh, my god, let them use prisoners. you mean you want slaves because that's what you're saying for you. information under no circumstances can this be allowed to happen? the nightmarish combination of brazenly were slavery criminalizing of protest and extraordinary hiring cove. it in meat processing plans makes this a recipe for dystopian, considering that there is a lot of jobs out in the market right now that are not taken bike, as i can say, a lot of people they think that are a bit like, you know, below them so i feel like if there are a lot of opportunities out there, why not to give a chance to people that have already some time and out there and can actually do the walk and make their contribution. you have to give them a cha

so the labor of producing cotton and the violence that was used to extract that labor never made enslaveds negotiating, struggling for control over their lives as slave owners tried to use them as tools to generate wealth for themselves. right? i want to wrap up there. i want to turn to our big questions and make sure that we are all on the same page. right? so broadly, a couple of things that we want to think through today. how did labor shape the lives of enslaved people in the u.s. south? what can we understand or how can we understand the power struggles between enslaved people and slave owners? what were some of the tools that were used in these struggles? so what do we know? yeah. >> with the growth of cotton in the deep south especially, we saw a lot of families get broken up. you said that nearly one-third of marriages were broken up. obviously, that can be pretty traumatizing for a family and especially with the kids that were separated from their families. so a lot of just, i guess, tough times for people in the growth of cotton. >> yeah. so the demands of slave owners and the p

the fear of labor radicals. here is a labor agitator receiving an iron cross from the kaiser himself. the idea was if you're doing a work stoppage, if you're demanding higher wages, if you're doing anything that undercuts wartime production, you're equivalent to being a traitor. this is setting the idea of this constant backdrop of fear, fear, fear. and the government, the rest of the government, is not far behind. so we're going to see a series of acts here that will actually cut across not only the wartime period in also the early periods of the red scare. first we have newton baker, the secretary of war. now, when the united states entered the war, one of the first things the administration does is mobilizes the national guard. state and local officials are now concerned that once the national guard is gone, they no longer have heavy muscle to deal with civil disturbances. so to deal with this, newton baker on his own passes this doctrine of direct access. and what that says is, at any point in time, a state

this raises issues about labor market frictions being resolved. it is moving in the wrong direction and it is becoming clear in a lot of labor demand surveys. jonathon: i will bring up that chart a little bit later. the rate is starting to pick up. you will have to pay for this. you might have the demand for labor, but you will have to pay for it. tom: a booming survey is wildly optimistic. jonathon: i cannot agree more. how much will they have to pay? tom: they will pay. jonathon: mike wilson of morgan stanley. lisa: they will pay. [laughter] tom: they will. jonathon: you are fired up. i can hear it in your voice. euro-dollar slyly negative at 117.23. tom keene, lisa abramowicz, jonathan ferro. this is bloomberg. ritika: president joe biden's big plans are about to pass their first major legislative test. a group of sedatives is set to approve a $550 billion infrastructure program. democrats will be able to bypass republicans on the next part, a $3.5 trillion budget resolution that would expand health coverage, childcare, and education benefits.

foreign workers to fill its labor market. and while france has faced weeks of protest over the requirement of a health path for indoor activities report show, consumer confidence only took a slight hit this month. and the continued increase in spending caused the countries finance minister to describe the french economy as doing well across the atlantic. now to brazil, where the eve of us, but is up this despite the news that the countries consumer price index is up. point 89 percent, and mid august, marking sharpest increase since 2002, fueled by electricity, food and gas prices. the latest reading also comes weeks after brazil move to raise interest rates once again an over in mexico, b and b as down the countries oil output to the hit following a massive fire on an offshore platform. the left 5 people debt. the impact on 40 percent of mexico supply sun oil prices on a 4 day rally. meanwhile, the latest data shows, gains and services. agriculture and manufacturing have helped mexico's g. d. p growth, 1.5 percent in the last

better off but if you protect american laborers at the expense of german laborers and anguish laborers and russian laborers and chinese laborers he is hurting the world to help his little group and he's no better, in some ways, then the industrialists who are hurting working people and he still defending them the minority against the majority. he publicly denounces him for that and it's interesting because on the one hand she denounces him who is a huge celebrity at the time, widely known and it's in the immersion press and these guys will and flora are celebrities and it doesn't hurt that she's attractive and says dramatic things and she shows up in the press a lot and it is known widely that they are feuding but the same time what they are feuding over his her carrying on the values he raised her with. even though they are fighting, even though it doesn't look great and causes them stress and frustration really lori is, she is the refined version of these values and in some way and i think by the end of his life he succeeded and he's carrying on his mission and extending it further.

so they're out of the labor for labor. 4th, a lot of them have had to stay home and that has contributed for those 5 factors. brand have exacerbated it, kind of like a conundrum of the hotel in the u. k. right, and i know that there's a lot of moving parts there. now at the same time, we're all looking forward, not just for the few months, but especially to the holidays. we've got supermarkets and producers warning that the supply shortages could last to the holidays and could even really hurt christmas is their concern there about how the, how long the shortages will last. well actually you're picking right up on the story that's to do with when i mentioned the you workers, a lot of them officers that they worked in the meat packing, meat industry and a lot of the pigs. of course this has been effected because they haven't been being able to slaughter them the same way they used to. and as this prediction of a sausage shortage will in the u. k. i, we are in england, a lot of people celebrate christmas and his roles are a big thing at christmas. so it's called like the sausage, christmas

labor market? where the gaps are at the moment. it may be less with office jobs, but certainly in other areas of the economy, people are less keen to come back. therefore we have big gaps in it comes to skilled labor. does what is happening now change the dynamic as to how we expect the supply side of the economy to come back, how the labor market are balanced? stephen: one thing here is actually the openness of orders, frankly, and the u.k. is probably an extreme example of this. but given brexit alongside the pandemic, you've got a lot of people who were working in the u.k. who have gone back home, whether that happens to be france, germany, italy, spain, or someone else, and there not so keen to come back, partially because of the uncertainty of crossing borders. one consequence of that is that you've got this strange combination of people wanting to have staycations, having holidays at home, but the workers simply aren't there. so you've got some strange things going on whereby labor markets ar

labor market conditions are improving but turbulent. the pandemic continues to threaten not only health and life but also economic activity. many other advanced economies are experiencing similarly unusual conditions. in my comments today, i will focus on the fed's efforts to promote our maximum employment and price stability goals amid this app people -- up people and suggest how lessons from history and a careful focus on incoming data and the evolving risks offer useful guidance for today's unique monetary policy challenges. under our repression -- recession, the deepest on record, displaced millions of workers in a few months. the decline in out court -- output in the second half of 2020 was twice the full decline of the recession. but the pace of the recovery has exceeded expectations with output passing peak in less than four quarters, less than half the last recession. the recovery has lacked in output. nonetheless, and plumbing gains have come faster than expected. the economic downturn has not fallen equally on all americans. a