SUSAN, THANK YOU VERY MUCH.
WANT TO GET BACK TO THE JOBS
REPORT NOW.
THE U.S. ADDED 263,000 JOBS IN
NOVEMBER.
LABOR SECRETARY MARTY WALSH
JOINS ME NOW AND THANK YOU FOR
DOING THAT, MR. SECRETARY.
LOOK, THIS JOB REPORT WAS
STRONGER THAN EXPECTED, BUT IS
IT ENOUGH TO COUNTER THE LAYOFFS
AND THE HIRING FREEZES THAT
WE’VE SEEN?
>> YEAH, I THINK IT IS.
WE’RE SEEING JOB REPORTS THAT
ARE BEING STRONG EVERY MONTH.
WE’RE SEEING PEOPLE GOING BACK
TO WORK.
WE’RE SEEING INDUSTRIES FULLY
RECOVERING, MANUFACTURING IS
MORE THAN FULLY RECOVERED, AS
THAT ACTUALLY ADDED ABOUT
750,000 JOBS ABOVE WHAT WAS PRE-
COVID, SO WE JUST NEED TO
CONTINUE TO DO OUR JOB HERE AND
CONTINUE TO SET PEOPLE UP WITH
JOBS.
WE ARE SEEING CERTAIN SECTORS
SLOWING DOWN A LITTLE BIT AND
HIRING, BUT OTHER SECTORS ARE
PICKING UP SO WE SAW GREAT IN
HOSPITALITY AND RETAIL THIS
MONTH.
WE SAW GREAT GAINS IN THAT.
WE SAW GREAT GAINS IN EDUCATION
AS WELL.
WE SAW SOME GAINS IN HEALTHCARE.
THOSE AREAS THAT WE HAVEN’T SEEN
QUITE GETTING GAINS CONSISTENTLY
AND IT WAS GOOD TO SEE IT IN
THIS MONTHS REPORT.
ASHLEY: WE STILL ALWAYS HAVE TO
TALK ABOUT THE PARTICIPATION
RATE COMING IN AT 62.1%.
10.3 MILLION JOB OPENINGS, ABOUT
6 MILLION PEOPLE UNEMPLOYED, TOO
MANY PEOPLE ARE JUST NOT
PARTICIPATING.
HOW DO YOU ADDRESS THAT?
>> YOU KNOW, WHAT WE HAVE TO DO
IS CONTINUE TO CREATE
OPPORTUNITIES FOR GETTING
PEOPLE INTO JOBS.
THERE’S DIFFERENT REASONS WHY
PEOPLE AREN’T PARTICIPATING IN
THE WORKFORCE, AND WHAT WE WANT
TO DO IS MAKE SURE AS THEY COME
BACK INTO THE WORKFORCE, IF THEY
ARE LOOKING FOR BETTER
OPPORTUNITIES FOR THEMSELF, AND
ALSO PARTNERING WITH BUSINESSES
IN AMERICA, WHAT BUSINESSES
NEEDS ARE, WE’RE DOING IT
THROUGH WORKFORCE DEVELOPMENT,
DUING IT THROUGH SPENDING TIME
TALKING TO COMPANIES IN AMERICA
AS WELL TO SEE WHAT THEY NEED
AND MAKING SURE THAT WE’RE DOING
EVERYTHING WE CAN TO PARTNER
BUSINESSES UP WITH WORKERS IN
THIS COUNTRY.
ASHLEY: WE HEAR A LOT ABOUT A
LACK OF SKILLED WORKERS AND A
CALL TO REALLY CLEAN-UP
IMMIGRATION REFORM.
IS THAT AN AREA THAT YOU THINK
WE SHOULD BE CONCENTRATING ON?
>> YEAH, I THINK ON THE SKILLED
AREA, WE DEFINITELY HAVE TO
CONTINUE TO MAKE THE INVESTMENTS
IN JOB TRAINING, WORKFORCE
DEVELOPMENT.
EVERYONE AGREES ON THAT AND I
THINK THAT THAT’S IN PARTNERSHIP
WITH BUSINESSES IN AMERICA TO
GET PEOPLE SKILLED UP FOR WHAT
THE NEEDS OF BUSINESSES ARE, AND
ALLOW PEOPLE TO GET INTO GOOD
PAYING JOBS BUT AT THE END OF
THE DAY, AND I’VE SAID THIS , I
THINK THE BIGGEST THREAT TO OUR
ECONOMY IS THAT WE DON’T HAVE A
GOOD STRONG IMMIGRATION POLICY.
WE’RE SO FOCUSED, SOME PEOPLE
ARE SO FOCUSED ON THE SOUTHERN
BORDER AND THAT’S REALLY NOT THE
ISSUE.
THE ISSUE OF IMMIGRATION IS HOW
DO WE MAKE SURE THAT COMPANIES
AND BUSINESSES HAVE THE
OPPORTUNITY TO EMPLOY PEOPLE
WE’VE SEEN A LACK OF IMMIGRATION
IN OUR COUNTRY OVER THE LAST
FIVE YEARS AND IT’S SOMETHING
THAT HAS TO BE ADDRESSED AND
HOPEFULLY, THE NEXT CONGRESS
WILL TAKE A GOOD, HAVE A GOOD
CONVERSATION AND ADDRESS THAT
ISSUE.
EVERY BUSINESS LEADER IN AMERICA
I SPEAK TO, EVERY SINGLE ONE,
SAYS TO ME, IT’S REALLY
IMPORTANT FOR THEM, FOR US, TO
FIGURE OUT THE IMMIGRATION ISSUE
ASHLEY: LAST QUESTION TO YOU,
MR. SECRETARY.
IT SEEMS WE’RE IN AN ODD
SITUATION.
THE FED IS TRYING TO CALL OFF
THE ECONOMY, RAISING THE RATES,
WHICH MAKES THINGS HARDER FOR
COMPANIES, WHICH MAKES
HIRING FREEZES AND JOB LAYOFFS,
YOU KNOW, PART OF REALITY, BUT
WE’RE STILL SEEING WAGES RISE.
THEY ARE STILL BEHIND INFLATION,
SO IN OTHER WORDS, THE FED IS
TRYING TO KNOCK DOWN THE LABOR
MARKET IN ORDER TO GET US BACK
ON TRACK SO TO SPEAK.
IT’S A STRANGE WORLD WE LIVE IN
RIGHT NOW.
ARE YOU CONCERNED GOING INTO
NEXT YEAR THAT ALL OF THESE
NUMBERS ARE GOING TO START TO
SLIDE BECAUSE WHAT THE FED IS
DOING?
>> NO, YOU KNOW, I FEEL GOOD AS
WE HEAD INTO NEXT YEAR.
I THINK THAT THERE’S AN
OPPORTUNITY FOR US HERE.
WE’RE STARTING TO SEE SIGNS OF A
LITTLE BIT OF INFLATION COMING
DOWN IN SOME WAYS.
OBVIOUSLY, THE PRESIDENT HAS
BEEN FOCUSED ON THAT IN WHAT HE
HAS DONE IN HIS ACTIONS HE’S
TAKEN AND WHAT WE’VE DONE AS AN
ADMINISTRATION.
I THINK THERE’S AN OPPORTUNITY
FOR US TO BRING DOWN, HAVE THE
INTEREST RATES TO CONTINUE
TO COME DOWN, SEE WAGES CONTINUE
TO RISE AS THEY HAVE, YOU KNOW,
INCREMENTALLY, BUT ALSO, HAVE A
GOOD STRONG JOBS ECONOMY.
I THINK IT’S REALLY IMPORTANT
FOR US AS WE, YOU KNOW, WE’RE IN
A VERY DIFFERENT, THIS IS A VERY
DIFFERENT ECONOMIC TIME THAN
PAST.
IN THE PAST DOWNTURNS WE’VE HAD
RECESSIONS.
THERE’S BEEN A WHOLE HOST OF
DIFFERENT REASONS AND THIS
PARTICULAR CASE PRETTY
STRONG STOCK MARKET.
VERY STRONG JOB GROWTH.
YOU HAVE WAGES GOING UP, SO WE
HAVE TO BE VERY CREATIVE HERE IN
HOW WE DO OUR OTHER SIDE OF THE
AISLE.
THE FED DOES THEIR POLICY AND WE
HAVE OUR ACTIONS ON OUR SIDE.
ASHLEY: FASCINATING STUFF.
LABOR SECRETARY MARTY WALSH, MR.
SECRETARY, THANK YOU FOR