so the bureau of labor statistics is flagging that. some of those people likely have an at least temporary laid off and not actually on the payroll of an employer. i do think the key thing to note is that was also true for the previous report. right? while there might be somewhere between 3% and 5% higher, i think it has moved down at the same scale that we saw in the report. host: ok. let's let our viewers take over the conversation. we will start with jackie from cleveland, ohio. jackie, you say you are out there looking for a job. what is the job market like for you? caller: kind of stagnant right now, but i am still looking. i am glad that while i was on hold you started touching on the part about the footnote in the bureau of labor statistics report yesterday. i just want to know, how are they able to get away with actually telling us it is a 13.3% unemployment rate, when all of the smart people work at the bureau of labor statistics should have done the math before putting this report out to the public in the first place? because

one was negative 800000 we got a gain of 2500000 jobs along with a big asterisk from the bureau of labor statistics that said the margin of error is somewhere in the neighborhood of 3 percentage points on the unemployment rate that goes far to explaining whether or not they're having some difficulty in measuring the individuals who are on the paycheck protection program and whether they're in or out of the labor force so but again markets were not expecting the gravity of the goodness of this number and they rallied hard on it i suspect there were also quite a few people who were betting against the market coming into this who had who had to cover their shorts on many analysts and a lot of economists were predicting that we would see these these numbers not for another month right the recovery would take maybe a little bit longer but it looks like a it's coming back or at least for now those unemployment numbers going and not as bad as we expected but then you know despite the reopening which is what it looks like the markets are following corporate bankruptcy spiked during may now pushing those nu

president does not get jobs numbers early, he has no influence over this, it's from the bureau of labor statistics. apparently he was watching cnbc with the rest of us as those numbers came out. >> and then the numbers came in know, i'm not reading this right, let me read it again, wait a minute, this is almost 3 million jobs gains. and then they shouted out of, one of them semi shouted out, is this a typo? >> reporter: it it wasn't a typo, and the president is running up, it's really 2.5 million jobs gained. the unemployment rate goes to 13.3%. on wall street, nasdaq hit a new record. i hate to remember, we have not coronavirus under control. a thousand americans died yesterday of coronavirus and presumably about a thousand will die today. so that's the big question, do we go into a second wave or third wave or something like that. for those who find these numbers that were supposed to be negative and are wildly positive, for those who find that suspicious, don't be. the bureau of labor statistics is an independent agency filled with professionals. and practically no one thinks that a president c

announcer: according to the bureau of labor statistics about 16% of american workers were unemployedects of the coronavirus pandemic, the unemployment rate in april rose to 14.7%, the highest it has been since the great depression. up next on "reel america," we turn the clock back to 1936. "let's go america" is a national association of manufacturers short film with an optimistic message. after showing the drudgery of work in the 19th century, the film argues that life has improved because of american ingenuity and the future is bright. ♪

one was negative 800000 we got a gain of 2500000 jobs along with a big asterisk from the bureau of labor statistics that said the margin of error is somewhere in the neighborhood of 3 percentage points on the unemployment rate that goes far to explaining whether or not they're having some difficulty in measuring the individuals who are on the paycheck protection program and whether they're in or out of the labor force so but again markets were not expecting the gravity of the goodness of this number and they rallied hard on it i suspect there were also quite a few people who were betting against the market coming into this who had who had to cover their shorts on many analysts and a lot of economists were predicting that we would see these these numbers not for another month right the recovery would take maybe a little bit longer but it looks like a it's coming back or at least for now those unemployment numbers going and not as bad as we expected but then you know despite the reopening which is what it looks like the markets are following corporate bankruptcy spiked during may now pushing those nu

bureau of labor statistics about 16% of american workers were unemployed in 1936. due to the effects of the coronavirus pandemic, the unemployment rate in april rose to 14.7%, the highest it has been since the great depression. up next on "reel america," we turn the clock back to 1936. "let's go america" is a national association of manufacturers short film with an optimistic message. after showing the drudgery of work in the 19th century, the film argues that life has improved because of american ingenuity and the future is bright. ♪ narrator: under the spreading chestnut trees, the village smithy stands, so said the poet longfellow. times which we sometimes call "the good old days," but just how good were the good old days? the blacksmith of olden times, a mighty man was he. he had to be. ♪ tiller of the soil, a mighty man was he also and he had to be, he was the food industry toiling for the necessities of life. ♪ the woman in the home. not often do you hear her grandchildren sigh for the good old days, not if they really know how she labored from dawn to dusk.

the bureau of labor statistics said it misclassified some unemployed workers and that the unemployment could have been as high as 19.2% in april and 16.1% in may. seth harris is the former acting secretary of labor under president obama. seth, good to see you. can you explain how something like this could happen, and what it means for this latest jobs report? >> well, i think we have a very complicated situation right now. and the bureau of labor statistics is trying to figure out how to count people and how to classify them. what happened in this case is that they apparently misclassified workers who were working for businesses that had shutdown because of the pandemic, and were counted as being absent from work because they were on leave rather than being counted as unemployed. so they were counted among the employed rather than among the unemployed. and that drove the unemployment rate down about 3%. >> how does a mistake like that happen? it's so obvious while so many businesses shutdown. that was public knowledge that people lost their jobs. how could you misclassify those people?

country entered its 1st recession in nearly 30 years in the 1st quarter of 2020 the australian bureau of statistics reported the economy shrank by point 3 percent the j.i.c. all shares in south africa also finished out the week in the green the rand has been rallying as of late as the country practically lifted lockdown measures now let's take a look at western markets let's start in europe london's footsie the french cac and the dax all surged on friday this was following us may unemployment numbers the shocking 13.3 percent this is that much lower than the expected 19.5 percent the footsie climbed 1.8 percent back in 2.8 and the cac jumped 3 point one percent the indices also saw some gains on thursday this was. following the european central bank's 600000000000 euro expansion of its stimulus and living across the atlantic let's move over to brazil where once again we're seeing a green arrow brazil's rao surge up to 3 percent on track for its biggest weekly gain since 2008 latin american currencies rallied on friday this was due to a surge in oil prices and despite countries still reporting thous

bureau of statistics more than 100000 u.s. oil and gas jobs have been laws during the economic downturn brought on by the current hours pandemic and in march alone drilling companies are fineries more than $51000.00 jobs which is equivalent to 7 years of job growth just wiped out in a single month and another $50000.00 job losses came from world field service and pipeline companies and most of the energy jobs have been focused in texas home to the permian basin and eagle ford shale which has more than half of the u.s. drilling rigs. and in the houston area by some estimates they might even lose 200-002-3000 extension 00 jobs in the near future and or all towns across the country are looking at similar double economic blows with states like alaska california louisiana north dakota oklahoma and wyoming amongst our there's facing the potential budget cuts and layoffs and the us energy industries likely to remain in a crisis even despite the opec plus agreement extending production cuts by another month and globally the oil indust

the bureau of labor statistics is flagging that. of those people are likely temporary laid off and not actually on the payroll of an employer. the key thing to note is that was also true for the previous report. be somewhere between 3% and 5% higher, i think it has moved down at the same scale that we saw in the report. let our viewers take over the conversation. we will start with jackie from cleveland, ohio. he said you are out there looking for a job. what is the job market looking like for you? caller: i am still looking. i am glad that while i was on hold you started touching on the part about the footnote in the bureau of labor statistics report yesterday. know, how are they able to get away with actually 13.3%g us it is a unemployment rate, when all of the smart people work at the bureau of labor statistics should have done the math before putting this report out to the public in the first place. it is creating false hope. that is one thing i have found we have seen in this administration, they don't tell the truth. there are

is falling the bureau of labor statistics says the jobless rate fell to 13.3 percent last month 2 and a half 1000000 people found work after more than 20000000 lost their jobs in april alone the rise in employment could suggest that companies are bringing workers back on board as parts of the economy reemerge from locked out. for more let's bring in the dollars financial correspondent yes korda in new york yes were we expecting the jobless figure to fall. nobody expected it there were no economists that could imagine that that we would see an increase in jobs 2 and a half 1000000 new jobs for the month of weight may that is the best monthly increase per in u.s. history just recently the federal reserve expected that the economy might contract by 50 percent in the 2nd quarter but that seems less likely so now that we see a pretty strong comeback science and at least on the labor market and yes quickly tell us how the markets react to the news. that was. created bill increase that we saw a blue chips up by more than $800.00 points more than 3 percent done for the week blue chips are up

the bureau of labor statistics is very, very competent. n't think there is any question of any manipulation of the figures. i trust the bureau of labor statistics, but it's very, very hard to collect the data during the pandemic. >> yeah. bob, thanks again. robert reich is the former u.s. secretary of labor, professor of public policy at california berkeley and author of the system. tawana black is with me, it founder and ceo of economic inclusion. let me ask you about african-american small businesses. african americans are suffering disproportionately in this recession and pandemic as is always the case for structural reasons we were just talking about as are african-american businesses, too. businesses enriches the kind of wealth that gets passed on. what's your view of how this plays out? >> i think we have a real opportunity to not only be thinking about investments we're making into rebuilding those businesses who have been burned, those businesses who have been looted but make sure businesses are not just reopening but businesses hav

so the bureau of labor sti statistics said there's a miscalculation that may have happened where the unemployment rate officially given 13.3% for the month of may is actually 3 percentage points higher than that. when you look what's happening for unemployment for black workers, it's significantly higher. we saw friday, president trump, celebrating the fact that the jobs numbers were better, but what we're seeing is that may not have, in fact, been the case. >> and any idea when we would get the real numbers from the bureau? >> yes. the bureau of labor statistics said come monday they're going to clarify what happened with the miscalculation and let us know what the actual, official, unemployment rate is going to be, but that is significant, because we really rely on that bureau to tell us the state of employment in this country. >> so 13%. the president celebrated it. it may actually be at 16%, higher than april was. we'll find out soon. >> sibila marcellus, good to see you. >>> that will do it for us. >> we'll see you again next weekend? >> alex witt is in the house. congressman al

a recession which the bureau of labor statistics say 8.8 million americans lost their jobs.ed the american recovery and reinvestment act, pouring money back into the states and agreed to continues the unpopular bail out of the banking industry that began under president bush. >> when i ran for president, i promised i would not do what was popular. i would do what was necessary. the recovery act pumped critical fuel into the economy pumping ten years in to economic expansion. the longest period of prosperity in american history. president obama over saw other land measures as well like the bail out of the auto industry which saved 4 million american jobs. his signature achievement, the affordable care act expanding access to healthcare to more than 20 million of americans, boosting the shares of the poorest americans by nearly 1/5. the economy kept on growing and growing and from 2010 to 2016, the u.s. economy added 15.8 million jobs. once obama left office, the economy kept tumbling along. the global pandemic has just been too much for the economy to bear. we see it collapsi

china's national bureau of statistics says the rebound was due to smaller cost increases and higher profitsning,, our chemical, and steel sectors. according to economists, domestic growth momentum will with strongere property activities and infrastructure investments. but despite this rebound, he does still expect china's monetary and fiscal policies to remain supportive. there inlena wonang beijing. the npc's hong kong deputy bernard chan joins us exclusively as we await more details of the national security bill. don't miss it. this is bloomberg. ♪ shery: you are watching "daybreak: australia." let's get a look at how markets are trading. here is sophie in hong kong. sophie: this monday morning we are seeing futures moved to the downside with s&p losing ground, off by about 0.4%. nikkei futures in chicago under pressure as may retail sales are due later. in the commodities patch, oil slipping with wti below 38. the demand outlook turning negative with global virus fatalities topping half a million come up ro -- half a million. i want to jump into the terminal to show you what has been goi

online after a sluggish few months perhaps dealing with some back orders there the national bureau of statistics have said that over 80% of factories have actually reached more than 80% of normal production prior to the coronavirus outbreak actually, the official manufacturing pmi came in at 50.6 in may. slightly slower than in april, which was 50.8, but as you say, we really do need to look beyond the headline numbers that is because the survey cautions demand remains weak, particularly when it comes to export orders. the official data actually showed us export orders contracted for the fifth month in a row in may coming in at 35.3 so, far below that 50 mark that really indicates to us the difficulties china is having in getting things back to usual, particularly as the pandemic takes a hefty toll on global demapped we've seen chinese manufacturers struggle to get the overseas orders, which have been either reduced or completely canceled away from factory activity, though, we're seeing encouraging signs which shows us there's a bit of an uneven recovery in the world's second biggest economy so

the bureau of labor statistics is very, very competent. don't think there is any question of any manipulation of the figures. i trust the bureau of labor statistics. but it's very, very hard to collect the data during a pandemic. >> yeah. bob, thanks again. robert reich, the former u.s. secretary of labor and the author of "the system." tawanna black is with me now. let me ask you about african-american small businesses. african-americans are suffering disproportionately in this recession and this pandemic as is always the case for structural reasons that bob and i were just talking about. and african-american businesses are suffering too. now, businesses are a way in which a community builds wealth, the kind of wealth that gets passed on, the kind of wealth that really enriches a community beyond that that individuals can earn as a wage. what's your view of how this plays out? >> you know, i think we have a real opportunity to not only be thinking about the investments that we're making that are flowing certainly from corporations into reb

a recession in which the bureau of labor statistics says 8.8 million americans lost their jobs.bring the economy back, president obama signed the american recovery and reinvestment act, pouring money back into states and even agreed to continue the unpopular bailout of the banking industry that began under president bush. >> when i ran for president, i promised i would not just do what was popular. i would do what was necessary. >> the recovery act pumped critical fuel into the economy prompting ten years of economic expansion. the longest period of prosperity in american history. president obama oversaw other landmark measures as well like the bailout of the auto industry, which is said to have saved 4 million american jobs. his signature achievement, the affordable care act, expanding access to health care for more than 20 million americans, boosting the shares of the poorest americans by nearly one-fifth. the economy kept on growing and growing and from 2010 to 2016, the u.s. economy added 15.8 million jobs. once obama left office, the economy kept humming along. with the tab

the bureau of labor statistics a the jobless rate dropped. 2.5 million n people foundnd wok after losing their jobs in april. the rise could suggest companies are bringing workers back on board as parts of the economy reemerge. despite the improvement, the u.s. economic crisis is bringing unprecedented hardship. food banks are providing help for those at the sharp end. many turning to charity for the first time. >> looked beyond the numbers and you find scenes like this. a car park turned into a food bank on the out of new york city and a convoy of shared desperation. >> i am hungry. that is why i am here. >> this mother of four monster hotel job when the crisis began. >> you have to mix sugar and water just to survive. thank you. appreciate it. >> and the great unraveling of the u.s. jobs market, this food bank has become a lifeline for those hardest hit. >> we have distributed about 1.2 million more meals this year. it is dramatic. >> mary knows well. her husband was laid off, making ends hard to me. her job is safe for now. >> i take care of coronavirus patients in the intensive care

the director of the bls, bureau of labor statistics, is a heritage foundation guy, but the staff is verynd these numbers would be extremely hard to cook. i think it would require a level of competence, understanding, to cook these numbers that we don't see in this administration, so i think we can say, and the numbers, when you look in the details, they actually do make sense, they tell us a story, so don't conspiracy theorize, you know, anything with this administration, always exercise caution, but this looks like a real number. >> and what is the coherent story? because i had trouble making sense of the report today. >> what's happened here is that the economy, after saying that we are in a medically induced coma, where lots of stuff has been shut down necessarily, to contain the spread of koechbd, and what has happened now, we've loosened and we've come slightly out of it. and if you look at where the jobs have been gained, it's restaurants, retail, shops, and dentists. dentist offices. and that's saying well, we've had a little bit of relaxation of social distancing and people are a

the bureau of labor statistics is very, very competent. ere is any question of any manipulation of the figures. i trust the bureau of labor statistics. but it's very, very hard to collect the data during a pandemic. >> yeah. bob, thanks again. robert reich, the former u.s. secretary of labor and the eighthor of "the system." tawanna black is with me now. let me ask you about african-american small businesses. african-americans are suffering disproportionately in this recession and this pandemic as is always the case for structural reasons that bob and i were just talking about. and african-american businesses are suffering too. now, businesses are a way in which a community builds wealth, the kind of wealth that gets passed on, the kind of wealth that really enriches a community beyond that that individuals can earn as a wage. what's your view of how this plays out? >> you know, i think we have a real opportunity to not only be thinking about the investments that we're making that are flowing certainly from corporations into rebuilding thos

thousands of people work at the bureau of labor statistics they are apolitical, professional and there's chance, there it is right there. he says there's no way and of course, paul krugman coming back saying give me an outraged push back over the possibility of the bls, i was just covering myself because so many weird things happened lately but i apologize for any suggestion that a highly professional agency might have been corrupt. all right, heather it's one thing to be surprised it's another thing to be upset. too many people are upset today at great economic data in this country. are they going to continue to be upset because will there be more great data? >> well i think those that are democrats and those that are left wing will continue to be upset, doubting the data and that's why president trump walked off the stage and kind of dropped the mic after the press conference when the media was pushing back on the positive. this is maybe the greatest jobs report of our lifetime, plus 2.5 million jobs. it's still hard to say it and in one month and although yes, millions are still unemp

if just look at the labor market reports and the bureau of labor statistics puts out. you'll see it is low paid workers in the service industry who's are bearing the brunt of this. it's also women to an extraordinary degree as i mentioned. so everything we do, everything we do -- >> live now on c-span3, we go to new york where andrew cuomo is about to give an update on the state's response to the pandemic. >> pleasure to be with all of you. we left, secretary to the governor, to my right, robert mohica, budget director of the state of new york and also gracing the cover of "city and state magazine" this month. that big warm smile that he is famous for. today is the 95 of the situation dealing with the coronavirus pandemic. and it is day 10 of the situation dealing with the civil unrest after the murder of mr. floyd. the president held up the bible the other day in washington, d.c. here in new york we actually read the bible. and there is some passages that i think are especially appropriate for today. blessed are the peacemakers for they will be called children of god.

what happened was the bureau of labor statistics noticed this huge mismatch out there and they actually reported it on the first page and said you should really add these numbers to the unemployment rate. it is hard because the classifications were really not designed for a pandemic even if you were not looking for a job in a locked down economy you also might not have been included as unemployed but as a discouraged worker. so the data they're trying to do the best they can to be transparent but it is important to understand that the unemployment rate is much higher than the ones we're seeing and they're already horrific. >> okay. and you think it is as simple as it is just hard to get real data when you've got a pandemic? nothing else nefarious here? >> there is nothing nefarious here. the bureau of labor statistics has been consistent about being transparent and putting this on the front page of their release saying it is adding this much to unemployment in this month from what we think is a coding error and that is important because we need that information. you know, the reality is

was a striking 70% in april that's what we had in the great recession, 20 to 25%, and the bureau of statistics says the rate in sandio county also extended to 7% chula vista, the next city up, and then the city of san diego the unemployment here in april was about 20%. the disproportionate impact of this pandemic of our economy is clear in my district what policies has the fed pursued specifically on reducing the high rates of unemployment for african-americans and latinos during this pandemic, and what policies has the fed put in place to help ensure that latinos, african-americans are not suffering from this disproportionately high unemployment rates as we emerge from this recession? >> i'm tempted to say that all of our policies are focused on that problem the way this pandemic worked is it hit companies and parts of the economy that were service economy companies which involved getting people together in tight quarters and either feeding them or giving them drinks or flying them around or entertaining them those are service jobs which happen to be overly represented. the work force happens

may, we saw some of the uncertainty there with the bureau of labor statistics of the u.s.hat much don'thow to categorize themselves. so we were written the -- so we were relatively optimistic. we weren't too sure where we could get. we think a 16% figure is probably near the market. but it is hopeful you could see the on and lemon trade fall back to around 8%, 9% in the fourth. that is quite a big drop. -- the unemployment fall back to around 8%, 9% in the fourth or. that is quite a big drop. we were below 4% at the start of this year. 9%, if we get back to 8% or which sounds like quite a milestone, we would still be over double where we were at the start of the year. it has strong implications for how strong growth can be into 2021 and 2022. lisa: how much more can the fed do to lower the unemployment rate? david: not much. the fed is pretty much at full at this point, but the actual stimulus i think the fed is able to provide here is pretty limited. we know that rates are not going to go anywhere for a long time. although it's got a minimum commitment at the know what -- commitment at

according to the bureau of labor statistics the unemployment rate was 16.8% for black workers, hispanic workers were at 17.6%, while unemployment among white workers dropped to 12.4% . r one thing to know, the labor department says for millions of workers were misclassified by the employee, but not at work. when they showed up a temporary layoff. that could skew the number up to 3%. economists say even with that miscalculation the state report is encouraging. >>> president trump declared the latest on employment numbers a victory. calling the jobs report, quote, and affirmation of all the work we have been doing over the course of his administration . and as he was speaking about that he also made comments today regarding george floyd and the nationwide protests in his honor. >> coppola, george is looking this is a great, great day. rea in terms of equality. >> the defense secretary mark esper has given the order to return all active-duty military brought to the capital region to their home bases. natalie brand has the latest on president trump is response . >> washington, dc smear comm

unemployment rate in the us bureau of labor statistics says the jobless rate dropped to 13.3 percent last month 2500000 people found work after more than $20000000.00 have lost their jobs in april a rise in employment would suggest that companies are bringing workers back on board as part of the on any emerge from lockdown. now let's bring in the financial correspondent in new york hence caught against what we expecting the jobless figures to fall. well that is an absolute stunner that we have seeing it was those the job figures nobody expected it as you mentioned there were expectations that we might have lost another $89000000.00 jobs in may and now this increase by 2 and a half 1000000 jobs by the way that is the biggest increase on a monthly basis ever since we get those statistics and that was at the end of the thirty's so really huge surprise probably what happened a lot of people in april 2 point 7000000 people back then said that they believe that the job losses are temporary and obviously had lot of those people at least for now right so quite unexpected that fall and unempl

us may employ unemployment numbers are and the bureau of labor statistics show the unemployment rate dropped to 13.3 percent that number was expected to be closer to 20 percent it didn't take long for a president donald trump to declare victory today is probably if you think of it the greatest comeback in america.

the labor -- the bureau of labor statistics said there was a miscalculation of one to three percentageoints. in america, when workers are reported asthey are unemployed. and for good reason, maybe. back andcall them unemployment drops. in europe, when you are furloughed, you are not reported as unemployed, you're still on the payroll. we have to be careful not to draw conclusions from that data in this recovery. is the blended unemployment rate in europe? how do you calculate that? give me a statistic. erik: i don't know how to calculate it exactly, because if you think the furloughed people should be called unemployed, then the number is very high, probably 15%. i'm making this up, we don't have the statistics for it, but it is very high. but if you are just sitting home on paid vacation and ready to come back within a minute's notice -- my point is that this recession, while it is the biggest we have seen since the great depression, the impact on labor and unemployment and everything else is completely different from anything we have seen before. see --e: where do you when you look a

the bureau of labor statistics is reporting a 13.3% unemployment rate, a 1.4% improvement since aprilalso acknowledging an error in how it classifies employment status, which means the actual unemployment rate could be as high as 16.3%. whatever the rate, 2.5 million jobs were added in may, and fewer unemployment claims were filed in ten states that lifted lockdown measures early in the month. half of the new jobs, however, came in industries with nowhere to go but up. restaurants, bars and hotels, hiring back chefs, waiters, and cashiers. with many businesses relying on checks from the federal paycheck protection program. >> when i got ppp, it kind of gave me hope i could bring back my employees. i'm going to be okay. without it, i don't know what i would have done. >> the amount of stimulus that we need seems to be working, but it is possible, as we go down the road further to recovery that we will need more support. >> reporter: right now, congress has not authorized more money for ppp. both parties are debating another form of stimulus. if another one was passed, july would be the

is fooling the bureau of labor statistics say the jobless rate dropped to 30.3 percent last month 2500000 people found work after more than $20000000.00 lost their jobs in eifel the rise in employment could suggest the companies are bringing workers back on board as parts of the economy reimage from walk down it. will spot the improvement in the employment figures the u.s. economic process is bringing on precent of hardship food banks are providing essential help for those at the shop in many a turning to charity for the 1st time. look beyond the economic numbers and you find scenes like this a car park turned into a heaving food bank on the outskirts of new york city and a convoy of sheer desperation. very. mother of 4 must see a doctor he lost her hotel job when this crisis began and when the kids in class i would say you have to go on a solo sugar and water just assert that. you. integrate on rivaling of the u.s. jobs market drive through food bank has become a lifeline for those hardest hit the people we've distributed other get out the number 1200000 more meals this year same time as

they are issued by the bureau of labor statistics. >> he says a significant portion of these job gains likely attributable not to the overall economy or work available but the paycheck protection plan that brought many people back into the paid labor force. in two weeks when the state numbers, he expects the california will have more job losses and higher unemployment. >> they won't show the same job games because during this period california was almost incomplete lockdown. >> of the golden state observes and enforces social distancing, masking, and other precautions, reopening can be as successful in other already reopen states. >> georgia, florida, and texas, hospitalizations and infections have not gone up. >> it was to be greater than before. >> we are still deep, deep, deep in a hole in terms of the payroll numbers and the jobs lost. >> more than 21 people remain unemployed which will take many many months to recoup. ktvu fox2 news. struck an area whether we've been advertising cooled down and temperatures have dropped significantly around 20 to 30 degrees cooler compared to yest

according to data from the bureau of statistics, it has been flat since president trump announced his drug pricing blueprint from june 2018 until april 2020 after averaging 4% growth per year for the previous five years. that is a tribute to efforts across the administration, including record-breaking generic drug approvals in each of the last three years at fda. lower prescription drug costs, more support for older americans in the community, better protection in nursing homes and assisted living facilities. all of these steps mean more healthy, prosperous years for older americans to spend with their loved ones, and that is what president trump has promised americans, and that is what he has delivered. pres. trump: thank you, alex. good job. ben? secretary carson: thank you, mr. president, for all you have been doing for getting our country back on track, and america owes a lot to our seniors. they are the ones who looked this country up and are the ones to make this a destination for people around the world. they are wonderful fountains of knowledge that live among us, and i am pro

according to the bureau of justice statistics, people living in households with incomes below the federal policy threshold are twice as likely to commit a violent crime. so there is a connection between poverty and crime. it is also the reality in part because of white supremacy and anti-blackness that we live in a country where the poverty rate is more than twice as high among black americans as white. that is a result of laws that deny black people access to housing. that is a result of laws that deny black people access to loans or the resources to start businesses. and we should acknowledge that it was just this week that the supreme court of the united states the civil rights act to ensure that people understand you should not discriminate against someone based on their actual or perceived identity. this is important because employment is one of the ways in which people are not impoverished. it is one of the ways in which likely to commit crimes, often out of necessity. and because that is now the law of the land, there is still more work to be done, because people can still be discr

lisa: is hard for individuals working at the bureau of labor statistics to get in touch of all of theies. the families in the most trouble are the ones not responding to the surveys. there have not been as many responses. they're all of these kinks in the jobs data. how do you categorize someone who is furloughed? are they employed or unemployed? these are questions that factored into the may report which will confuse the matter more in june. dear point, not confirming the optimism. we are seeing 10 year treasuries at session lows. five-year yields, same kind of pressures. equity futures head lower as people take a look and say perhaps the economic data has not as good as other indicators were suggesting. 24athan: equity futures down on the s&p 500. tom: thank you for bringing that up. we have seen a deterioration as well. joining us is tony rodriguez of nuveen. what is so good about him is he worked for years and the acclaimed general electric investment fund which is smart people on the dynamics of credit. he is now with the legendary bond analyst in chicago at nuveen. tony rodrigue

is a great increaser of any inequality if you just look at the labor market reports, the bureau of labor statistics put out, you will see that it is low-paid workers in the service industries who are bearing the brunt of this. it's also women to an extraordinary degree as i mentioned. so everything we do, everything we do is focus on creating environment in which those people will have the best chance to keep their job or get a new job. to go back to their old job if they've been furloughed. take a company, i won't give an impetus as an example, a company that was investment-grade march 22 but it's not been downgraded to so-called junk, not investment-grade company, but as tens and tens of thousands of employees. why would we include that company and one of our programs? is a very large companies and their many of them that would fit that description. i'm not thinking of anyone. the reason is that a company like that doesn't have, kimbrell of its debt and can have enough cash on hand to deal with its obligations, what they're going to use it will let people off. they will cut costs. they won't have

if you look purely at the numbers in the survey week for the bureau of labor statistics, 30 million americansing unemployment insurance. of theroll in all emergency programs, that lead you to say, what happens to these 9 million people? how did they not show up in either of these surveys? i think it is a big mystery that will be resolved. major downward revisions to both march and april. maybe this will come out as a wash in the coming months. there is definitely something that is not quite right given the huge discrepancy we have seen between what the states are reporting and what we have seen this morning. taylor: i was speaking with julia coronado at the top of the hour, and she said this report may give a false sense to central banks that they can ease off the gas a little bit, takes the pressure off of them a little bit. are you worried that could take off the pressure when we could still need more stimulus? bloomberg did some great research this week and found there are 6 million potential layoffs among higher , aome american workers second wave due to the coronavirus because of demand

just before joining you all we learned from the labor of bureau statistics that unemployment has fallen in 43 states in may as americans are going back to work. also, i would like to re-emphasize the numbers that director of the n.e.c. larry kudlow shared with you yesterday that the c.b.o. predicted that in the third quarter we will get plus 20% g.d.p. we will be plus 20% g.d.p. and he's nomist ted hyman predicting plus five g.d.p. and this will put it above the precoronavirus numbers should those predictions pan out. we are back and we will be booming. finally -- well, second to finally. we are encouraged that we gather positive data on heperain or steroids as commonly known. and remdesivir and convo le sent plasma have shown positive findings. it's found when ste roads are used there was a 30% reduction for coronavirus patients on ventilators. the f.d.a. is reviewing this now. additionally on convalescence plasma's there's a partnership with the mayo crinic. the trump administration moved on this early recognizing that it showed promise. through the f.d.a., mayo clinic and the adminis