there were unskilled workers. one of them was actually constrained to his bed for an illness for months and hadn't been earning. they didn't even know that they themselves were declared as the official owners of the companies issuing the invoices. so here you have a situation where from a formal point of view, you knew who the owners of the businesses were, but you cannot go beyond that formality if there is an informal system of again, i thinks what is important is to fill in gap is that we have to identify those areas where we can intervene, operating in a system that's more structured and more law abiding. again, these networks rely on the structural weaknesses of these countries and border regions, but their global networks, in the example i brought, you have false invoicing and shipments going from hong kong through miami, dubai, west africa, into the border regions, and back out into the international financial system. if we cannot improve standards of transparency in those countries we can at least interven

for up to a million dollar who were in one case a street vendor of ice cream in -- that were unskilled workers, one of them was actually constrained to his bed for an illness for months and hadn't been earning. they didn't even know that they themselves were declared as the official owners of the companies that were issuing the invoices. so you here you had a situation where from a formal point of view you knew who the owners of the businesses were, but you cannot go beyond that formality if there is an informal system of criminal complicity where both officials, accountants, attorneys, customs law enforcement are allowing this mechanism to go on. so again, i think that what is important to complement this gap, to fill this gap, is that we have to identify those areas where we can intervene, operating in a system that is more structured and more law abiding. again, these networks rely on the structural weaknesses of these countries and border regions. you but they're global networks. and the examples i brought, you have false invoicing and shipments going from hong kong through miami dubai, we

oz there were unskilled workers. one of them was actually constrained to his bed for an illness for months and hadn't been earning. they didn't even know that they themselves were declared as the official owners of the companies issuing the invoices. so here you have a situation from a formal point of view, you knee xwhoo the owners of the businesses were, but you cannot go beyond that formality if there is aen informal system of again, i thinks what is important is to fill in gap is that we have to identify those areas where we can intervene, operating in a system that's more structured and more law abiding. again, these networks rely on the structural weaknesses of these countries and border regions, but their global networks, in the example i brought, you have false invoicing and shipments going from hong kong through miami, dubai, west africa, into the border regions, and back out into the international financial system. if we cannot improve standards of transparency in those countries, we can't at least interven

people, unskilled workers making really good dollars. and where are they? you know, pipelines in this country in the 1930s principle source of employment. they were a principle source of employment in this country until they stopped. >> which is a problem. particularly why in the northeast we're paying a lot more for natural gas. >> the williams deal. >> yeah. speaking of employment the largest employer in this country, private i think it's still walmart, that company's having its shareholder meeting today. we'll check in as that gets underway. also ahead goldman sachs chief economist jan hatzius on today's jobs report and the impact it could have on the fed. let's look at futures as the market tries to understand what's behind this number. more "squawk on the street" coming right at you after this. t of the north face, we are working on the prototype to match customers to gear. watson, let's give it a try. say it's mid-june and i'm backpacking in yosemite. of our 353 jackets, i can recommend nine. watson, what if it rains? there is just a 3% chance of rain

so i understand the economic pressures of letting in droves of unskilled workers on wages and on, youation or labor rate participation. look, let's stop pointing fingers and start talking about solutions. it is reasonable for people to have control of their borders. it is reasonable to expect respect for the rule of law. >> you are talking about immigration but you haven't answered my question about how that affects the steel industry, the auto industry, the longshoremen. i have to get the rest of the panel in as well. >> i just told you. there are workers -- >> mr. blackwell, i'm sorry. there are three people on the panel. they haven't had a chance to talk on the panel. i want to bring them back in. let's look at what the data says about the voters who are supporting donald trump say themselves. the brookings survey which is a fantastic survey, public research institute, they start with this question of discrimination against white people. it shows that particularly trump supporters, it might be hard for folks on tv to see that graphic, trump supporters are the most likely to believe

want to work and can do so, is still represents a huge supply of a potential less educated or unskilled workers. some of the biggest decline have been among the young. this last summer only one third of teenagers work. twenty years ago is more than half. this is is actually very concerning. those who don't work in as they are young often have trouble finding and retaining work throughout the life. they need to obtain the skills to stay in the labor market while they're young. there's no shortage to fill unskilled jobs. employers may have to pay more and treat workers better and develop new means of recruiting workers if the supply of immigrant workers is reduce. in my view higher wages for the least educated and poorest americans should be seen as a positive thing, not something we try to stop through immigration policy. >> thank you. i appreciate that. i believe in congress it should be our goal to create these offenses that allow wages to keep up with inflation and actually grow faster. that's when you get a healthy economy. i do believe the wage stagnation and decline is the pain american pe

exit vote, but they're also huge number's of people, the vast majority of skills from unskilled, and semiskilled workers in this country voted to leave. , birmingham for example, multicultural cities, voted overwhelmingly -- not overwhelmingly, but narrowly, to leave in this referendum campaign. it is not true all of those people were motivated by racism. it is also the case on the remaining side, there are racist forces. you take a mood cameron -- you take david cameron. he launched a few months ago and islamaphobic campaign against the man running for the mayor of london, abusing his authority in parliament to smear that figure my labour party figure, claiming he was a pathetic to isis when there is no evidence of that whatsoever. y government put through agendas. we should not assume it is monopoly on racism. tohave a very big struggle fight against racism in this country. that will be the case whatever the outcome of the referendum. but i think both myself and alex are very committed to now whatever the outcome is of taking for that struggle. amy: alex scrivener, you wanted britain to remain in the

there is no shortage of less educated workers to fill unskilled jobs. of course, employers may have to pay more and treat workers better and develop new means of recruiting the -- recruiting workers if the supply of immigrant labor is reduced. but in my view, higher wages and leastent rates for the educated and poor's americans should be seen as a positive thing, not something that we tried to stop through our immigration policies. thank you. senator sessions: thank you. i appreciate that. i believe we in congress, it should be our goal to create defenses that allow wages to at least keep up with inflation and ask the grow faster. that's when you've got a healthy economy. i do believe this wage stagnation and even decline is part of the angst that the american people are feeling today. cunningham, the production well there is considered a job under the h-2b program. mr. cunningham: yes, sir. it is a classification. one of yourions: complaints is that they are hired as a production welder but actually taking jobs from boilermakers and pipe welders and hig

workers to hire for lesser skilled jobs. lobbying groups like this coalition and the shame ber of commerce who claimed that they had a dire shortage to fill lesser and unskilled jobs. they create new temporary farm worker programs to fill jobs. despite such claims, other than employer anecdotes, the labor market metrics have been presented to prove labor shortages. in fact, the available evidence suggests the opposite. wages in the occupations have been flat or declining for over a decade while unemployment has been chi high. many at or above double-digits. they are not the labor shortages. this doesn't mean that no shortages exist. it's possible that they exist in localities, but the high national unemployment rates and occupations suggest that even the employers experiencing the shoredage might find workers they recruded outs the state and if they offered more attractive wages including transportation and housing. if the program is to continue to exist despite the lack of evidence that it's necessary, it should be strong rules requiring employers to recruit and hire any available workers and to pay their workers no less than the average wage. some argued th

immigration policy is not skewed to bring in skilled workers but the opposite to family reunification which means we import unskilledlaborers at greater rates. that is the key thing, bring in skilled labor and you have those jobs, entrepreneurs coming in greater numbers to begin other jobs and create other jobs. in terms of markets it was a big shot. the book is last night, 8020 was going to stay and remain, markets traded up. for the same reason, the remain vote looks like it is going to win. markets shock markets will decouple from this. there are bigger things to worry about than whether britain is in or out of the eu like fed policy, the slow growth economy or where the economy is picking up growth, corporate earnings in the us, more us and other events that is going on here and number 2 there will be more volatility in the uk with their currency, they haven't figured out what the next move is. is it protectionism or some combination, they will be fighting in parliament about all this. connell: currencies will be a big part of it. but as our dollar, it is not necessarily -- >> i have never seen a move like that.

workers available, and the need to get the workforce trained in that direction? >> so going back probably to the mid-80s, we have seen a persistent shift of the employment patterns of unskilled to people with middle skills, but doing the jobs that can be offshored, outsourced to skilled demand for skilled labor. >> yes, ma'am. >> and the consequence of that has been rising inequality, and a high return to education, and downward pressure on the wages of those who are less skilled and middle income, and i completely agree with you that education and training and perhaps apprenticeships of the type that are used in some european and other countries, these are ideas that really have to be considered if we are going to address what comes out of that which is that even when you have enough jobs, you have downward pressure on the wages and incomes of people in the middle and thet bottom of the skill distribution. >> thank you, chairman yellen. >> i suggest, mr. chairman, that we need to have a national conversation about the quality of education in our country, and the necessity of a dual track. back in my days we had shop which was an important part of the education apparatus, an