the labor market is clearly -- has clearly shown significant further improvement toward our objective of maximum employment. so far this year, a total of 2.3 million jobs have been added to the economy. and over the most recent three months, job gains have averaged an estimated 218,000 per month. similar to the average pace since the beginning of the year. the unemployment rate at 5% in november is down .6% from the end of last year. nd is close to the median of estimates of its longer run normal level. a broader measure of unemployment that includes individuals who want and are available to work, but have not actively searched recently, and people who are working part-time, but would rather work full-time, also has shown solid improvement. that said, some cyclical weakness likely remains. the labor force participation rate is still below estimates of its demographic trend, and voluntary part-time employment remains somewhat elevated, and wage growth has yet to show a sustained pickup. the improvement in employment conditions this year has occurred amid continued expansion in economic

reason, a large consensus for the decrease in labor force. the first thing we can do is to pass a federal paid leave law. because you know, we're the only industrialized planet on the earth that doesn't have some form of paid leave. and we know from the experience of the other countries that when you make it easier for dual career families to enter the workplace, after they have a child, you increase labor force participation. one data point. the united states and canada, the participation rate of women in 2000, was equal. now canada's about eight points, percentage points higher than us. and just if we had kept pace with canada and they have very progressive paid leave policies for women, higher. as a result of that, if we'd kept pace we would have 5.5 million more people to make silicon valley, the benefits of the remarkable talents this these women bring to -- >> let's clarify what you mean by paid leave. >> sure. >> is this going to be a government benefit that when you leave the workplace you're getting a portion of that paycheck substit

secretary of labor thunderstorms perethroams peret. are there enough protection for workers in that type of contingent workforce? >> it's important to know that the on demand job market, people in the construction industry, went from job to job and continual to do that. in the home health industry you go from job to job and you continue to do that. and so one thing that strikes me when i talk about the on demand economy is we need to make sure we understand the data on this. because there is at least one recent estimate showing that the percentage of people in this workforce is about 1%. and so while there's growth in this area, you look at the growth in other legacy sectors and it's pretty large as well. and so i appreciate the need for flexibility. what we need to do, and the conversation we're having is, we're about to embark on a conference at the department of labor ton future of work. and the future of work is what does the social compact 2.0 look like? how do you ensure that workers can make ends meet? that workers have that saf

she specializes in the history of labor labor and the comparative disciplinary rations and received her ba from rockers joining us later in the program is the representative from the national domestic workers alliance the nation's leading nations leading voice for dignity and fairness for the millions of domestic workers many of whom are women and working with respect for the inclusion of the labor protections in the domestic national alliance powered by the organizations and the first local chapter in atlanta over 20,000. thank you so much and i will turn it over to the speakers. [applause] i want to start by saying saying what an enormous pleasure it is to be here and to be celebrating this book. it's a book that crosses so many of the field that i've written about and i am interested in that i am completely amazed to see how it moves not just one field forward with several forward in the fields of labor history. i want to start out by asking you how did you come to write a book on domestic workers after all, we all know that domestic workers are at the edge of our intellectual consci

-- labor market improvement. but of course, it' highly relevant to our decisions and the strength of the dollar is one factor that puts -- means that monetary policy for the u.s. is more likely to follow a gradual path. >> we also have global uncertainty relative to our national security and the world security. and we seem to be entering a period of time here where violence in one form or another whether it's domestic, international, whether it's terrorist oriented or connected to other means. what -- you can lay awake at night thinking of scenarios where coordinated terrorist attacks or just acceleration of the kind of violence we're seeing, mass shootings and so forth and so on, could have a negative effect and i think would have a negative effect on the economy relative to people's fear of spending, going out, enjoying sports, entertainment, other types of entertainment, going to malls and shopping, et cetera, et cetera. how does that factor into the fed's thinking regarding its impact on the economy? >> so th

with me for today's program is labor secretary thomas perez. let's talk about labor participation. it's usually a sign of people's own optimism and own sentiments about their chances out there in the marketplace. how should we read that 5% decline in a labor mark a market as big as ours. that's a lot of of people. >> the reason why it has gone down is the aging of the baby boomers. there is wide consensus that that is the reason for the large decline in the labor rates. the first thing we can do is to pass a federal paid leave law because you know, we're the only industrialized planet on the earth that doesn't have some form of paid leave. we know from the experience of other countries when you make it easier for dual-career families to enter the workplace after they have a child, you increase labor force participation. one data point. the united states and canada, the participation rate of women in 2000 was equal. now canada is about 8 percentage points higher than us, and just if we had kept pace with canada, and they have very progressive paid leave policies for women. that's wh

the labor compensation provides another indicator albeit an imperfect one but the degree of labor marketor compensation had grown only modestly an average annual rate of around two to 2.5%. more recently however we have seen a welcome pickup in the growth rate of average hourly earnings for all employees in compensation per hour in the business sector. while it's too soon to conclude but that the rapid rates of increase will -- the sustained pickup would likely signal a diminution of the labor market. turning to overall economic activities u.s. economic output measured by inflation and gross domestic product or real gdp has increased at a moderate pace on balance during the expansion. over the first three-quarters of this year real gdp is currently estimated to have advanced at an annual rate of two and a quarter%. this average pace over the previous five years. many economic forecasters expect growth roughly along the same lines in the fourth quarter. growth for this year has been held down by weak net exports which is subtracted more than half a point on average from the annual rate of

labor growth. on a path of declining labor force participation due to the aging of the workforce, of the population, so i don't think we should expect to see labor force participation move up a great deal over time. if it were simply stable over time rather than on that welining trend, i think would be observing people who were perhaps discouraged and in a stronger job market would move back with 200,000 jobs a month is enough to make progress on those dimensions. return now of the two of our key members of the committee. so we have time for both of you to answer questions. thank you. sorry about the vote. in your comments when i was here earlier, you mentioned moderate growth within the economy, yet an economist at citigroup predicted natalie a tightening of the u.s. labor market would force the fed to increase market interest rates more rapidly than anticipated, they said it would result in an inverted yield curve which precedes a recession and actually, they said they would likelihood of a reces

overall, the committee sees the risks to the outlook for both economic activity and the labor market as balanced. the anticipation of ongoing economic growth and additional improvement in labor market conditions is an important factor underpinning the committee's confidence that inflation will return to our 2% objective over the medium term. overall consumer price inflation, as measured by the price index for personal consumption expenditures, was only ®% over the 12 months ending in october. however, much of the shortfall from our 2% objective reflected the sharp declines in energy prices since the middle of last year, and the effects of these declines should dissipate over time. the appreciation of the dollar has also weighed on inflation by holding down import prices. as these transitory influences fade, and as the labor market strengthens further, the committee expects inflation to rise to 2% over the medium term. the committee's confidence in the inflation outlook rests importantly on its judgment that longer-run inflation expectations remain well anchored. in this regard, altho

my expectation going forward is that the labor market and the economy will continue -- the labor market will continue to improve. and eventually i think all states will see improvements as that occurs. but, of course, you know, the exact industrial structure of a state can matter. but there probably have been improvements, substantial improvements. and i think the labor market will continue to improve over time. >> so returning to an issue that a number of my colleagues have raised. just generally, when you're looking at a situation where the fomc is looking at increasing interest rates, but the actions of other central banks around the world are in a countervailing direction, how do you overall factor in the actions of those other central banks into the -- the broad picture, and how does that impact your decision making as to whether or not it's the right time to move forward? >> so we are trying to assess the overall u.s. economic outlook, and we need to factor in all the different elements that determine that. our success in selling goods to the rest of the world and the strength of

so this is a labor-intensive process. it requires massive amounts of labor. you have people running cane to the mill from the fields. people must turn it constantly. you have to keep the kettles burning. you cannot take a break. you have to have people hauling sugar from place to place, juice from place to place. this is a labor-intensive business. it is around-the-clock. and then, once it's done, after all this work, all this juice, all this boiling, you have a loaf of sugar. one third has too much molasses, and you have one pound of good raw sugar in the middle. it has to be refined again to turn to white sugar. the molasses can be distilled and made into rum. you get money out of the waste product. this is sugar on the brazilian coast. in the 1500s, you get more and more towards this system. to things should jump out about this. one, you need a lot of labor. two, this is a complicated technology for the 1600s. this is not cheap to build or maintain. any people that know how to make this kind of machinery to make it all work. it is expensive to start a suga

my expectation going forward is that the labor market and the economy will continue -- the labor market will continue to improve. and eventually i think all states will see improvements as that occurs. but, of course, you know, the exact industrial structure of a state can matter. but there probably have been improvements, substantial improvements. and i think the labor market will continue to improve over time. >> so returning to an issue that a number of my colleagues have raised. just generally, when you're looking at a situation where the fomc is looking at increasing interest rates, but the actions of other central banks around the world are in a countervailing direction, how do you overall factor in the actions of those other central banks into the -- the broad picture, and how does that impact your decision making as to whether or not it's the right time to move forward? >> so we are trying to assess the overall u.s. economic outlook, and we need to factor in all the different elements that determine that. our success in selling goods to the rest of the world and the strength of

most factories still rely on manual labor. cheap labor, performed most lie by migrants from inland villages enables manufacturers to make changes to designs for small orders or speedily respond the additional requests. even if the profit margin on each product is as little as several cents. tens of thousands of migrant pack trooes tree workers, however, have lost their jobs in recent years. this is due to a rise in labor costs along with surging land prices as yiwu becomes the largest distribution center in eastern china. factories making products with little profit margin are now moving their operations to lower cost inland areas in search of cheap labor. over the past two years, unemployment in yiwu has risen steeply. the jobless now flood the streets from very early in the morning in the hopes of getting some day work. crowds of people flock around vehicles seek just two or three workers. such employers usually offer lower wages compared to the city's average pay. despite the poor wage conditions, people still flood the str

find an except jobs in an even stronger labor market.loyed,ified as working age people must report that they have actively sought work within the past four weeks. most of those not seeking work are appropriately not counted as unemployed. these would include most retirees, teenagers, and young adults in school, and though stay home to care for children and other dependent family members. laborn the stronger market, it is likely that many of these individuals would choose not to work. as out ofard counted the labor force might be induced to seek work if the likelihood of finding a job rose or the expected pay was higher. examples here include people who would become too discouraged to search for work and the prospects of employment were poor and some who retired from the previous jobs when they ended. almost 2 million individuals classified as outside the labor force because they had not search for work in the previous four weeks reported -- theyne of and were wanted and were available for work. this is a considerable number of people in

state can matter, but there probably have been improvements, substantial improvements, and i think the labor market will continue to improve over time. the actions of other central banks around the world are in a counterveiling direction. how do you, overall, factor in the actions of those other central banks into the broad picture and how does that impact your decision making as to whether or not it's the right time to move forward. >> so we are trying to assess the overall u.s. economic outlook, and we need to factor in all the different elements that determine that. our success in selling goods to the rest of the world -- that's an important determinant of the outlook. we have divergent monetary policies globally, and it often means that there will be exchange rate movements that accompany that, and we have seen that over the last year and a half. as i said, the combination of the weak growth abroad, plus the movement in the dollar has been a factor that has been depressing net exports, and that's been a subtraction from growth, and i think it will continue to be going forward. that's a n

the labor force participation rate is still below estimates of its demographic trend. involuntary part-time employment remains somewhat elevated. and wage growth is yet to show a sustained pick up. the improvement in employment conditions this year has occurred amid continued expansion in economic activity. u.s. real gross domestic product is estimated to have increased at an average pace of 2.25% over the first three quarters of the year. net exports have been restrained by subdued for growth and the appreciation of the dollar. but this weakness has been offset by solid expansion of domestic spending. continued job gains and increases in real it is possessable income have supported household spending. and purchases of new motor vehicles have been particularly strong. residential investment has been rising at a faster pace than last year. although the level of new home building still remains low. outside of the drilling and mining sector, where lower oil prices have led to substantial cuts in investment outlays, business investment has posted solid gains. the committee

getting the -- we're labor party back. that sense, he is representative of that new shape of the party. nothing wrong with that new different. just are they electric people to go to through. we've yet to see in the years they hang around or whether they are proactive or not. word about pmq's, prime grasp at the chance to stamp that personality. jeremy corbin doesn't seem to see it that way. tohe see an opportunity stamp his know now and end what he do. he has taken these questions from people who e-mailed them in. does sound like a radio show. .ut that's his personality -- the problem with it, it does prosecuting ars single argument. this is the biggest policy issue this week. will use thissic, the strength of it is why not. seen the prime minster struggle to deal with. thean't be opening roots in rear. be good work.ould it isn't about strategy, this is does business. followpeople who don't burst -- io did think in the fullness of time, that will remain is he actually doing the first job of opposition. you.ank although the

i think there is some cyclical labor market slack that has hidden.owne revised my estimates of the proportion of the weakness due to cyclical factors. we are not at full employment yet despite the 5% and employment rate. scarlet: it is because of our working mother predecessors. be sticking with us. next we will discuss how changing demographics will affect the global economy. and look at shares of adobe up 4%. ♪ .oe: we are back we back with the goldman sachs chief economist. goldman put out research with the question of did globalization altered the phillips curve. did the fact that there is all changeobal labor the dynamic? what were the conclusions? wast: the basic conclusion the wage setting for all of us is more dominated by domestic factors than many people believe . while we did find some evidence that there was global spillover impacte wage growth, the in the united states is quite small. other economies, maybe economies you get a bigger impact, in the u.s. it is generally pretty small. the basic reason is the part of the economy that was di

labor and product markets. i expect inflation to move up to the fomc's objective over the next few years. play ann expectations important role in the inflation process, and my forecast of a return to our 2% objective over the medium-term relies on the judgment that longer-term inflation objective expectations remain anchored. let me turn to the applications of the economic outlook from military policy. in the policy statement issued by the october meeting, the fomc reaffirmed its judgment that it would be appropriate to increase the target range for the federal funds rate when we had seen some further improvement in the labor market and were reasonably confident that inflation that would -- would move back to the committees 2% objective over the medium-term. that initial rate increase would reflect the committee's judgment based on a range of indicators that the economy would continue to grow at a pace sufficient to generate further labor market improvement and a return of , even following the reduction in poli

on know, miss yellin keeps talking about slack in the labor market, which i think as validity. but i think it is dangerous if because specific rules, things change. you could have 3% unemployment and 1% inflation. do you want to hike aggressively in that environment? tom: help us with the group who has been gracious but said they didn't want to raise rates. howdy you address these people today after this historic rate increase? they've all insensible in saying that no single move by itself is the matter of life and death. what matters is the path. it is the way that the fed communicates specifically. take the professor's comments, mike, and fill it into what you observed within the. plug. that's significant news. mike: no significant changes. tom: they didn't come down? ine: they did a little bit 2018. tom: i rock, wiser to tepid market response? ever believed it ofld pass the next couple meetings. it would take something extraordinary. you would have to see better growth and better inflation and signs. can we have a moment of silence for the team that put this together for sev

, manual labor type jobs. and, i mean, if we're going to do anything about poverty, we have to improve the conditions for them. and in theory, the free market should allow that to happen. but congress isn't allowing the free market to work by bringing in more foreign labor. >> guest: we already have 66,000 visas that are issued for non-agricultural seasonal workers and another 117,000 every year for ag workers. and in the same way that these tech companies are always or talking about a shortage, you'll also hear that in the agricultural industry as well, and it's just as suspect. >> guest: i saw a article just recently in the newspaper where the writer was saying that paying someone $13.59 was an absurdly high wage. i mean, that person could barely make it by on that. and that was for agricultural work. >> host: carrie is in canton, north carolina. republican line. carrie, where is canton? is that in the raleigh durham area. >> caller: no, that's right beside asheville, western north carolina. >> host: okay. >

so how important is the u 6 and other labor tools? and basically, given the considerable slack suggested, this could be the right time to raise rates. >> so i would agree with you that u-6 remains elevated relative to its historic norms. it is higher than i would have expected, based on our historical experience, given the standard and it's one of the things that leads me to believe that even though we're close to that 4.9% immediamedian, there remain a margin of slack in labor market. while that's come down substantially, it's still, it's hard to tell for sure because there is a trend over time toward more part time employment in the u.s. economy, but i believe it remains higher than it ought to be in a so-called full employment economy. in addition, there are also discouraged detached workers and a fair number of them, again, that's come down, too, again, i see margins of slack and i think they're flekted. >> thank you. >> thank you, mr. chair and thank you, chair jeyellin, for being here. i'm going to follow up. it's more along the

there is still considerable slack in the labor market. how important are the labor tools? given the considerable slack suggested, is this the right time to raise rates? chair yellen: i would agree with u6 remains elevated relative to it to stork norms. higher than i would expect a based on historical experience given the standard we are used to. it is one of the things that leads me to believe that even though we are close to that 4.9% median, there remains a marginal slack in the labor market. thatportant part of u6 makes it that high is an -- isary -- is going to voluntary part-time employment. while that has come down substantially, it is hard to tell for sure because there is a trend over time toward more part-time employment in the u.s. economy. i believe it remains higher than it ought to be in a so-called full employment economy. in addition, as you noted, there are discouraged workers. a fair number of them, that has come down. i see margins of slack. i think they are reflected in the discrepancy in u6. >> thank you, mr. chair. thank you chair yellen for being here

one of the degree of labor market slack.il recently labor compensation had grown only modestly at average annual rates of around 2% to 2.5%. more recently, however, we have seen a welcome peck-up in the growth rate of average hourly earnings for all employees and compensation per hour in the business sector. a sustained pick-up would likely -- of market slack. turning to overall economic activity, u.s. economic output as measured by inflation adjusted gross domestic product or real gdp has increased at a moderate pace on balance during the expansion. over the first three-quarters of this year real gdp is currently estimated to have advanced at an annual rate of 2.25%. that's close to its average pace over the previous five years. many economic forecasters expect growth roughly along these same lines in the fourth quarter. growth this year has been held down by weak net exports, which have subtracted more than a half percentage point on average from the annual rate of real gdp growth over the past three quarters. foreign econ

construction workers and other laborers. with clinton drawing a lot of support from middle class workers like the ones attending the event today it was interesting to hear ... why they think hillary clinton should be the next president of the united states. natsot clinton: "i see we have a lot of carpenters here ... active and retired we got some laborers here as well" out in numbers. around00 people found theiway to the sioux city carpenters training center to see presidential candidate hillary clinton speak. it was her approach on labor issues, improving work conditions and creating more jobs that struck a chord with many at the event. sot: "investing in jobs by rebuilding infracstructre that was really cool, that's what something that you don't really think about that building bridges creates jobs." the choice of venue was no cooincidence with secetary of labor tom perere announcing thahahe would endorse clinton for president. 15 national unions ... representing roughly 11 million workers have pledged their support to cli

sigh land is one of the biggest producer of seafood in the world and relies heavily on migrant labor.er: thailand's seafood industry is built on migrant labor from neighboring countries, particularly myanmar, wages are low and there is evidence of abuse. this boy says he works up to 18 hours a day putting labels on tins of tuna. he's only 16. and doesn't want to be identified. it's legal for him to work full time, but with certain restrictions like not working past 10:00 in the evening. >> translator: sometimes i do overtime and finish at almost 1:00 in the morning or even at dawn. all extra work is supposed to be paid as overtime. but they don't pay me as they should. >> reporter: he worked the golden prize, a large tuna processing company just outside bangkok. the company sells $230 million worth of tuna to overseas markets each year. management wouldn't comment and instead septembe sent security s on. >> the issue out golden prize is about wages and overtimal. they don't get paid as pitch a is they should. they are paid less than what is stated in the labor law. >> reporter: recent

where does she stand with respect to her past statements on the labor market.y of those things evolved, and does she emphasize her concerns around financial market conditions, around the issues that you highlighted earlier around the high yield bond market. >> right. >> any of those kind of concerns that get greater play and greater focus will highlight her dovishness and that will ease the market's concern. >> it sort of sounds like we're wanting a dovish tightening which is a bit of an oxymoron but what could be the best case scenario for the bonds? >> i think the best case scenario is the fed delivers on expectations. where markets have been disappointed, where there's been greater volatility, the taper tantrum, a couple years ago the issue was the surprise. markets hate surprises. so the market has built in expectations for the dovish hike, and if the fed can deliver on the dovish hike, that's going to be the best outcome for both bonds and risky assets in the fixed income market as well as in stocks. >> a quick word on the high yield market, it's not just

they are paid less than what is stated in the labor law. >> reporter: recently about 1500 staff walked off the job for a day in a bold protest. negotiations between the workers and golden prize have amounted to nothing. >> reporter: this is certainly not an isolated case. in fact, thailand has always had a problem with labor rights, particularly when it comes to migrant workers. it's an issue that could be about to hurt the economy. the european union has put the sea food industry on night. it will decide soon whether to ban all imports of products from thailand because of illegal fishing practices and labor issues. >> we can say that we are not perfect. in thailand we have about 3 or 3.5 million migrant workers. nobody can clean up 100% but at least we have the mechanism, we allow the press, we allow the ngo to monday for us. >> reporter: the government has altered labor laws and introduced tougher punishments and some companies are making changes. but for workers, the law will mean nothing unless it is enforced. wayne hay, thailand >>> a bus in kenya has been attacked by gunmen. one

the labor force participation rate is still below estimates of demographic trend. and part time employment remains somewhat elevated, and wage growth has yet to show a sustained pick up. improvement in employment conditions this year has occurred amid current expansions of economic activity. the u.s. net exports have been restrained by subdued foreign growth and the appreciation of the dollar. but this weakness has been offset by solid expansion of domestic spending. continued job gains and increases in real disposable income has supported household spending and purchases of new motor vehicles have been particularly strong. residential investment has been rising at a faster pace than last year although at the level of new home building remains low. outside of the drilling and mining sector, loyal oil prices have led to substantial cuts in investment outlays. business investment is posted solid gains. the committee currently expects that with gradual adjustments in the stance of monetary policy, economic activity will continue to expand at a moderate pace and labor

now she advocates on behalf of migrant laborers. over the last eight years she's interviewed hundreds of contract workers in iraq and afghanistan. >> that will make you work anywhere. doesn't matter it's a war zone, doesn't matter if you are going given good food or conditions. men are ready to sacrifice. >> a village of several thousand people,en several hours from the closest airport. locals estimate that 70 to 80% of the men have worked in afghanistan. >> you may get 500 rupees a month. the agents promise you to get $800 a month. i would consider moving there to get a job. >> we went to a tea shop and word spread we were looking for people who had worked on bases. it turned out this man serving tea, had worked in afghanistan, for supreme , working for nato. >> whether they made it to afghanistan or not, everyone had a story about how they had been cheated. this man paid $3,000 for 3,000 to an agent, for a job in afghanistan but when he arrived he was told he would be working for a much lower salary. at bagram, the largest u.s. ba

i'm going into labor! - okay, she's going into labor. make way, everybody!- i know it's wrong to fake going into labor just to get out of things, but sometimes it's necessary. i'm going into labor. - or should i have corndogs. i mean-- - i'm going into labor! - okay, three reasons you are wrong about true blood. number one-- - i'm going into labor.

the labor force participation rate at 62.5%.adline numbers, the three most important being nonfarm payroll, the unemployment rate of 0.5%, average hourly earnings at 0.2%, nothing appears to dissuade the fact from raising rates. david: thank you very much, julie. alan, i am going to go out on a limb. unlike mario draghi, these numbers do not disappoint. alan: this was a solid report. did you have a chance to look at what happened to the workweek, weekly hours? stephanie: average hourly earnings look ok. julie: i will give you the average work week as i sort through my many papers. i will take a look. average work week for all employees, going down by 0.1 hours to 34.5 hours in november for private, nonfarm payroll. stephanie: i'm going to give you more data. november average hourly earnings for all u.s. workers rose .2%. we know payrolls were better than expected. u.s. november jobless rate at 5.046 versus 5.036 in the prior month and average hourly earnings ok. you cannot say anything but this is solid. how janet yellen could n

it is one of the largest importers. >> reporter: thailand sea food industry is built on migrant laborng countries, particular mean. wages are low and there's evidence of abuse. this boy says he works up to 18 hours a day putting labels on tins of tuna. he is only 16 and doesn't want to be identified. it's legal for him to work full-time but with certain restrictions like not working past 10 in the evening. >> translation: sometimes i do overtime and finish at almost 1 in the morning, or even at dawn. all extra work is supposed to be paid at overtime. they don't pay me as they should. >> reporter: he works for gold ebb prize, a large tuna-- golden prize, a large tuna processing company just outside bangkok. management wouldn't comment and instead sent security to move us on. >> translation: the issue at golden prize is about wages and overtime. they don't get paid as much as they should. they are paid less than what is stated in the labor law. >> reporter: recently about 1500 staff walked off the job for a day in a bold protest. negotiations between the workers and golden prize have am

bonded labor, they have a debt over their head. sex trafficking, child labor and domestic servet eurekas de >>> the country with the highest%, 4%, is moretana. haidi has more than 2%. how is that happening in the 21 century? <>> is enough being done to deal with situations like that? obviously, not, but how big are the efforts to stop that? <

. >>> thailand's seafood industry has been accused of widespread labor abuses.it's legal for this boy to work full time but with certain restrictions like not working past 10:00 in the evening. >> sometimes i do overtime, and i finish at 1:00 in the morning or even at dawn. all extra work is supposed to be paid as over time. they don't pay me as they should. >> he works for golden prize, a large tuna processing company just outside of bangkok. the company sells $230 million worth of tuna to overseas markets each year. management would not comment, and instead sent security to move us on. >> the fis issue is about over time. they are not paid what is stated in the labor law. >> recently 1500 staff walked off the job for a day in a bold protest. the negotiations between the workers and golden prize have amounted to nothing. this is certainly not an isolated case. in fact, thailand has always had a problem with labor rights, particularly when it comes to migrant workers. and it's an issue that could be about to hurt the economy. the european union has put the seafo

" said richie schmidt, a member of labors international union. "it just gives the opportunity to gain more members. and when we have more members then communities thrive." according to the white house council of economic advisers, every $1 billion in infrastructur e investment creates 13,000 jobs. under the plan clinton proposes new tax credits to encourage more high quality apprenticeshi p programs "and while we're doing this, i won't let anyone undermine collective bargaining rights, prevailing wage standards or project labor agreements," said clinton. a promise that was received well from union laborers on friday. in sioux city, tiffany lane, ktiv news 4.>> during clinton's sioux city stop, she received an endorsement from iowa state representativ e chris hall. people around the country are reacting to the devastating shooting, including law enforcement right here in sioux city. "whenever law enforcement gets involved, we feel for them. we feel for the victims. and we just hope and here. but in this day and age, it seems like it's capable of h

or it's going to improve as the labor market tightens further. we'll see. >> is there a danger to putting the brakes on the economy while proven? >> i think this is the new normal. we are a slow-growth economy like it or not. look as to whether this notion of putting the brakes on the economy, if this were the fifth or sixth or seventh rate like, i would say yes but the first, in a little bit, no pressure on the road. >> yellen says targeting a rate of slightly more than 3%. so what do you say to bernie sanders? you say the impact on consumers will be mild. bernie sanders says this will be terrible for american workers. >> well, first of all the fed has a tendency, a habit really of be estimating how high they will be able to raise interest rates. so this floation that near going to raise, to 3%, i will believe it when i see it. because frankly we've had so many economic fits and starts just to get to this first rate like, without any kind of economic kickup i'm just not buying it. >> minimal, you know, more expensive for borrowers and slightly b

labor costs, which measure the price of labor per single unit of output, also rose at a slightly higher rate than previously stated. >>> well, oil prices, quite a day there. they broke below $40 a barrel, as new government data showed a rise in supply when many had expected inventories to shrink. according to the energy information administration, it is the tenth straight week of stockpile build-ups. domestic crude settled at $39.94. that's its first close below 40 bucks a barrel since august. that drop pressured shares of dow components exxonmobil and chevron. they were the dow's laggards today. all of that extra oil does have to go somewhere, and an increasing number of companies are making big bets on the growing need for more storage space, and no place is that more evident than in houston, and that is where we find morgan brennan tonight. >> reporter: just a few miles away from the astrodome in houston will soon sit subterranean salt cavern, able to store enough oil to fill the famed stadium. fairway energy partners is developing these caverns that starting next year will hold up t

she continues, some of them undoubtedly would be drawn back in the labor force as the labor market continues to strengthen. likewise, some of those who report they don't want to work now could change their mind in a stronger job market. what is she saying? >> so we've had an extraordinary number of people who have left the workforce for a variety of reasons. some have left because they've retired. some have left because they're going to school and they're not really in just yet. others have left because they are discouraged by the prospects and by the wages that are out there. let's fast forward, brian, what are you? you're 32 now, right? >> yeah. i wish. >> let's fast forward 33 years to 65-year-old brian. you've decided to retire. along comes cnbc and says, brian, you are so valuable to us right now we're going to give you a million bucks to stay in the workforce. there is a price at which -- >> sold. >> right. there's a price at which you would choose not to retire, right? she's talking about what that marginal wage is that keeps you from dropping out -- let's talk about down and out bria

the doctors are a lifeline for the african laborers. hundreds live here in the middle of the fields in makeshift shelters. >> we provide basic health care and guaranteed rudimentary rights. the people here are entitled to that. >> he and his team of doctors first came here for years ago. since then, the relief organization has become a permanent fixture. the migrant laborers are not just here for the harvest. they live here the year round. >> they work all day long for a pittance in order to make ends meet. in the summer and autumn, they picked tomatoes. now they are harvesting olives. it is no wonder most suffer from chronic muscle and joint pains. >> the mission of the italian organization is to provide free medical help. in southern italy and in many other parts of the world. sometimes the doctors just provide advice. this man is plagued by back pain. for months, he picked tomatoes. 25 creates a day for a meager six euros a day. unscrupulous farmers employ the refugees and migrants from africa as cheap labor without any form of socia

suggests good momentum in the economy and the labor market. and the healing in the labor market conditions has been going on for a number of years. seems to be continuing. good broad-based hiring and good momentum. >> there also seemed to be a little wage growth which i'm sure the fed is watching very carefully because they're looking for a little inflation to creep in here. >> absolutely. yes. we're starting to see some early signs of that. it's still pretty tentative. still small. but the arrow seems to be pointing in the right direction. you're absolutely right. that's certainly what the fed is looking for because we're going to need to see wages pick up to a somewhat higher rate of growth and sustain that to get inflation back up to the fed's target. i think the fed feels that that will happen as the labor market continues to heal and these early signs of it are certainly encouraging. >> so are you one that falls into the camp that with this latest report, with that creep up in wages that we are looking in a couple of weeks' time at the fi

so as we showed people have entered the labor market. they fulfilled their part of the bargain that we have an unfinished revolution on the work opportunity angle. there are simply not enough work to go around not just in mississippi but even in chicago a boomtown in comparison to mississippi. there is not enough work in cleveland ohio and certainly not from a full-time employer, stable work and automation work. so when a lot of economists look at this they say well maybe you should create a rich unemployment system. it seemed to us that went against what our respondents wanted. they wanted to work. even if you know mary and the last chapter from the delta can't stand her and her feet for more than 20 minutes she doesn't want to be on ssi. she wants a job. if you look around america even though these folks are generally low-skilled there is so much work to be done. they don't have enough afterschool programs. our parks are full of litter and national parks aren't able to open all year round. our libraries are short-staffed. we can open o