JUNE IN WHICH 850,000 JOBS WERE
ADDED AND THE UNEMPLOYMENT RATE
STOOD AT 5.9%.
I WANT TO BRING IN MARTY WALSH,
THE FORMER MAYOR OF BOSTON,
MASSACHUSETTS.
THANK YOU FOR BEING WITH US.
CAN YOU DRAW US A PICTURE?
YOU, THE BUREAU OF LABOR
STATISTICS STUDY THESE TRENDS
ALL THE TIME.
WE LOOK AT THEM WEEK TO WEEK,
BUT WHAT DO THE TRENDS TELL YOU
ABOUT WHEN WE GET BACK TO
NORMAL -- AND I ALL THAT WHERE
WE WERE AFTER BEFORE THE
PANDEMIC.
>> I THINK ITS STILL TOO EARLY
TO SAY THIS IS WHERE WHERE THE
NUMBER IS GOING TO BE, YOU KNOW,
WERE LIVING IN A WORD OF
COVID-19, WERE LIVING IN A
WORLD NOW OF CONCERN ABOUT
VARIANTS, MANY PEOPLE ARE.
LIVING IN A WORLD THAT SOME
BUSINESSES COMPLETELY SHUT DOWN
AT THE BEGINNING OF THE
PANDEMIC.
SOME ARE NOT GOING TO REOPEN.
SO ITS NOT A FULL FORECAST, BUT
I DO FEEL GOOD.
THE PRESIDENTS ECONOMIC PLAN
THAT HE PUT IN FRONT OF US AND
PUT IN FRONT OF THIS COUNTRY IN
THE BEGINNING OF HIS PRESIDENCY
HERE, WE SAW 3.1 MILLION JOBS
COME BACK INTO THE ECONOMY.
WERE CONTINUES TO MAKE
INVESTMENT IN THE AMERICAN
RESCUE PLAN.
WERE CONTINUING TO SEE GREAT
STRIDES ACROSS THE COUNTRY.
THIS FALL, MANY BUSINESSES THAT
HAVE GONE REMOTE ARE TALKING
ABOUT BRINGING PEOPLE BACK INTO
THE OFFICE, SO I THINK WE HAVE A
GOOD, STRONG OUTLOOK HERE.
>> SOME DEMAND SEEMS TO BE
COMING BACK TO SMALL BUSINESSES,
RETAILERS, SMALL BUSINESSES THAT
NEED TO HIRE PEOPLE.
THOSE PEOPLE HAVE TOLD US
THEYRE HAVING TROUBLE FINDING
STAFF.
ALMOST EVERY PLACE I GO TO HAS A
SIGN THAT SAYS WERE HIRING
RIGHT NOW.
ON THE OTHER HAND WE HAVE SEEN
COMPETITION FOR WAGES INCREASE.
WAGES ARE GOING UP, AND A NUMBER
OF GOVERNORS ARE TREATING THIS
AS A BAD THING.
THEYRE SAYING BECAUSE OF THE
EXTENDED UNEMPLOYMENT BENEFITS
THAT ARE SOON COMING TO AN END,
EMPLOYERS WOULD HAVE TO PAY UP
TO GET EMPLOYEES.
HOW DO WE RECONCILE THIS?
RACING WAGES FOR THE
LOWERS-EARNING PEOPLE IS NOT A
BAD THING, BUT ITS HARD FOR OUR
SMALL EMPLOYER, HARD FOR OUR
SMALL, YOU KNOW, RESTAURANT
OWNERS AND SHOPKEEPERS.
>> YEAH, CERTAINLY NOTHING WRONG
WITH PEOPLE MAKING MORE MONEY,
AND I CERTAINLY SUPPORT THAT.
THE PRESIDENT SUPPORTS THAT.
I THINK AS FAR AS UNEMPLOYMENT
KEEP PEOPLE OUT OF WERE,
THERES A LOT OF FACTORS THERE,
LACK OF CHILD CARE, PEOPLE
CONCERNED ABOUT THEIR PERSONAL
HEALTH, PEOPLE WORRIED ABOUT
PEOPLE NOT VACCINATED.
AS WE GET INTO AUGUST,
SEPTEMBER, AS THE UNEMPLOYMENT
GOES AWAY, THE $300, WELL STILL
HAVE CONCERNS ABOUT PEOPLE GOING
BACK TO WORK.
AS FAR AS THE WAGES GO, I THINK
THAT THIS IS SOMETHING THAT FOR
A LONG TIME THIS COUNTRY,
EMPLOYEES HAVE BEEN PAID LESS
THAN THEY DESERVE.
THE FACT IS IF EMPLOYERS HAVE TO
PAY MORE FOR THEIR EMPLOYEES, I
THINK THATS A GOOD THING.
I THINK THAT WILL HELP PEOPLE
PULL INTO THE MIDDLE CLASS, AND
CERTAINLY WE NEED TO CONSIDER
THE ECOSYSTEM AROUND THOSE
BUSINESSES AS WELL, SO THOSE
BUSINESSES KIN TO DO WELL.
WE COULD HAVE BUSINESSES GOING
OUT OF BUSINESS BECAUSE THEY
HAVE TO PAY THEIR EMPLOYEES
ONLY.
WE HAVE TO SUPPORT THE COMPLETE
ECOSYSTEM.
>> YOURE RIGHT, IF THE
ECOSYSTEM EARNS MORE MORNING,
HENCE THEY SPEND MORE MONEY,
THATS WHAT SUCCESS LOOK LIKE,
BUT THAT COULD TAKE YEARS OF
ADJUSTMENT TO GET THERE.
YOU WERE A MAYOR, YOU WANT TO
DEAL WITH SMALL BUSINESSES ALL
THE TIME.
HOW DO YOU MOVE THE WHOLE
ECOSYSTEM FORWARD, WHERE WE
BECOME A HIGHER-EARNING,
HIGHER-PAYING SOCIETY.
I THINK ONE WAY IS THE
PRESIDENTS INFRASTRUCTURE PLAN,
MOVING THOSE FORWARD.
THERES INVESTMENTS THERE IN
PHYSICAL INFRASTRUCTURE IN THIS
COUNTRY.
THAT MONEY WILL GO INTO
ECONOMIES ACROSS THIS COUNTRY,
EVERY CITY AND CARE, AND THE
ECONOMY WHERE WERE MAKE
INVESTMENT TO HAVE HIGH-QUALITY
CARE FOR OUR OLDER PEOPLE, OUR
CHILDREN, THOSE ARE THE THINGS
THAT CONTINUE TO PUSH OR ECONOMY
FORWARD AND CONTINUE TO KEEP THE
ECONOMY GOING FORWARD.
>> LET ME ASK YOU QUICKLY,
SECRETARY, IS THERE A WAY TO
TAKE ADVANTAGE OF THE FACT WE
HAVE BEEN SHORT OF A NUMBER OF
SKILLED WORKERS IN THIS COUNTRY
FOR YEARS?
AND NOW WE HAVE PEOPLE
RECONSIDERING GOING BACK TO
THEIR JOBS?
IS THIS AN OPPORTUNITY FOR THE
RETRAINING THAT WEVE BEEN
TALKING FOR YEARS?
>> ITS A BIG OPPORTUNITY FOR
RETRAINING.
ITS INCUMBENT UPON US AT THE
DEPARTMENT OF LABOR TO MAKE SURE
WE GET THE TRAINING DOLLARS THAT
CONGRESS APPROPRIATED AND THE
SENATE APPROPRIATED, AND THE
PRESIDENT, AND WE GET THOSE ON
THE STREET.
I THINK THERES A BIG
OPPORTUNITY TO RETRAIN AND HELP
PEOPLE FIND NEW CAREERS THAT
COULD ADVANCE THEMSELVES.
WE ARE AT A MOMENT -- THE THING
ABOUT THIS MOMENT IN TIME, WEVE
NEVER LIVED THUS ANYTHING LIKE
THIS.
WEVE NEVER GONE THROUGH -- I
DONT KNOW IF YOU CAN CALL IT A
RECESSION, ABOUT A KO INDIVIDUAL
PERIOD OF TIME, WHERE SO MANY
PEOPLE WERE LAID OFF,
UNEMPLOYED.
NOW WERE COMING OUT OF A COVID
TIME, PEOPLE ARE CERTAINLY
CONCERNED ABOUT WHAT THE FUTURE
LOOKS LIKE.
LOTS OF PEOPLE DURING THIS
PERIOD OF THE LAST 16, 18
MONTHS, HAVE BEEN THINKING ABOUT
AM I IN THE RIGHT CAREER?
SHOULD I CHANGE NAIR CAREER?
SO NOW IS TIME TO PUT
INVESTMENTS IN JOB TRAINING, AND
WORKING WITH BUSINESSES TO HELP