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Speaker 1: It is Job's Day, and for the White House, it

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Speaker 1: brings good news. Stronger than expected, payrolls up one hundred

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Speaker 1: and eighty seven thousand jobs, Wage growth the slowest pace

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Speaker 1: since early last year. Participation up for the first time

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Speaker 1: since March. President Biden speaking to the nation from the

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Speaker 1: Rose Garden a short time ago.

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Speaker 2: We've recovered all the jobs lost during the pandemic when

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Speaker 2: we've added a million more new jobs. More than seven

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Speaker 2: hundred thousand people joined the labor force last month, which

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Speaker 2: means he's the highest shared of working age Americans are

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Speaker 2: in the workforce now than at any time in the

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Speaker 2: past twenty years.

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Speaker 1: It's a good story to tell.

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Speaker 2: Lee.

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Speaker 1: You wonder where we're heading with some real cross current,

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Speaker 1: some headwinds coming in September. So I went down to

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Speaker 1: the Labor Department this morning to talk about it with

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Speaker 1: the Acting Secretary of Labor, Julie Sue. We met outside

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Speaker 1: started by reading her a tweet from Mark Zandi. This

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Speaker 1: is what Mark said on Twitter. The August jobs report

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Speaker 1: could not be much better. Job growth solid but slowing.

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Speaker 1: Unemployment rose, but for the right reason. More labor supply

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Speaker 1: participation jumped. Wage growth growth continues to moderate, hours work rose.

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Speaker 1: The report, he says, has soft landing written all over it,

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Speaker 1: And so I started by asking Madam Secretary if that's

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Speaker 1: how she sees it, and here she is, yeah.

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Speaker 3: I mean, this is the kind of job growth we'd

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Speaker 3: want to see if we're looking for soft landing.

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Speaker 1: Well, with that said, unemployment is rising, and it's interesting

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Speaker 1: to see Wall Street celebrating that. I'll ask you your

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Speaker 1: thoughts on that in a moment. But the duration of

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Speaker 1: unemployment is increasing. Is that because more people are looking

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Speaker 1: for work or because of the many people on strike

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Speaker 1: right nowst country?

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Speaker 3: So the slight uptick in unemployment was due entirely to

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Speaker 3: more people coming into labor market. I think that is

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Speaker 3: also a sign of optimism, right. It's a sign of

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Speaker 3: the strength of our economy. It was also a very

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Speaker 3: small uptick, so that the overall unemployment rate remains under

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Speaker 3: four percent for the longest stretch since the night teen sixties.

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Speaker 1: What do you think as we walk into this labor

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Speaker 1: day when you see Wall Street rally on the idea

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Speaker 1: of rising unemployment.

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Speaker 3: I think that these are all signs that the President's

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Speaker 3: economic agenda, what we call Bidenomics, is investing in America right.

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Speaker 3: The idea that if we do our jobs well, we

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Speaker 3: can have a tight labor market where workers share in prosperity,

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Speaker 3: where we recover from the economic catastrophe of the global

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Speaker 3: pandemic to a point where we have steady and stable growth,

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Speaker 3: That all this is not only possible, but it's actually happening.

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Speaker 1: You've been asked a lot about union actions lately with

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Speaker 1: regard to the UAW. What's going on in Hollywood right now.

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Speaker 1: There could be flight attendants involved, This could go beyond that.

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Speaker 1: I'm not going to ask you if you're getting involved yet,

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Speaker 1: because I know you're waiting to be asked if that happens,

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Speaker 1: to make a decision at some point. But what are

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Speaker 1: your models telling you if all of these strikes were

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Speaker 1: to coincide in the fall, what would that mean for

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Speaker 1: our economy?

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Speaker 3: Right? So let's put all this in the content text

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Speaker 3: of the job's day numbers that we're talking about. This

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Speaker 3: is an economy that has defied all expectations in terms

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Speaker 3: of its recovery, both the rapid pace of it and

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Speaker 3: and how broadly shared it is. This is Bidenomics in action.

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Speaker 3: Part of the President's commitment is to empowering workers making

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Speaker 3: sure that workers get their fair share and do well.

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Speaker 3: And part of that has meant that unions have more

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Speaker 3: ability power to demand changes at the bargaining table. We've

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Speaker 3: seen some really good results from that. Right the Teamsters

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Speaker 3: and ups resolved their issues. People wrung their hands about

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Speaker 3: that too and wondered expected that not to happen. It

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Speaker 3: not only happened, but they ratified a contract with some

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Speaker 3: eighty six percent of members. The West Coast Ports twenty

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Speaker 3: nine ports resolved issues that were really complicated as well

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Speaker 3: and have a multi year contract. These are what happens.

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Speaker 1: Do you see this resolving itself?

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Speaker 3: I mean, I'm not going to make a prediction about that,

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Speaker 3: but I do think that the process requires that we

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Speaker 3: respect the party's ability and their continued commitment to bargaining

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Speaker 3: at the table.

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Speaker 1: I have to ask you about Taylor Swift. I don't

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Speaker 1: know if you saw Taylor Swift when she came to town,

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Speaker 1: but we're hearing that the impact the Federal Reserve even

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Speaker 1: mentioned this of her tour, and even Beyonce's tour to

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Speaker 1: some extent, helped to paper over some weakness that might

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Speaker 1: have otherwise emerged in this job's report. What's it going

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Speaker 1: to look like when everyone comes off tour after the summer.

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Speaker 3: So I'm going to say something about women in general. Right,

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Speaker 3: women are powering this economic recovery. We can talk about Beyonce,

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Speaker 3: we give about Taylor Swift. I want to talk about

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Speaker 3: the record numbers of women in the job market now.

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Speaker 3: Remember during the pandemic, women were pushed out of the

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Speaker 3: labor market through things like our lack of paid leave,

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Speaker 3: difficulty with accessing childcare. Those women are now back in

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Speaker 3: the labor market. We have the fifth month of historic

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Speaker 3: percentage of women in jobs, and I think we should

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Speaker 3: continue that effort to create good jobs, create good union jobs,

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Speaker 3: and make sure that everybody has access to them, including them.

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Speaker 1: We see a hiccup when all of these tours come

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Speaker 1: to an end. They're obviously employee more than women.

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Speaker 3: Yeah, but women. I mean looking at the labor market

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Speaker 3: as a whole and jobs as a whole, I think

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Speaker 3: that we're fortunately broad based recovery means we're not just

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Speaker 3: reliant on one or two superstars, but we're really seeing

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Speaker 3: what happens when people have confidence when you create good

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Speaker 3: jobs in all communities. As the Department of Labor, we're

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Speaker 3: really focused on making sure that everybody can get those

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Speaker 3: jobs out

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Speaker 1: Of secretary Happy labor day, Happy daybor day in a month,