So this may be investors saying, oh, maybe you are okay with ending some of these trade wars. Well talk about this trade deal and what it means. Lets get to the white house where right now the president and first lady are wrapping up a meeting with the president of kenya and his wife. Geoff bennett joins me. I want to get back to senator mccain and the controversy over flags that are at half staff in congress and many other places in the country but not at the white house. They were at half staff and are now back to full staff. Reporter flags are lowered by president ial proclamation so its the president who decides who receives that honor and the recent tradition for senators who die in office have been to have flags lowered in their honor from the day of death until their burial. So during president obamas time in office, he had four Sitting Senators die. There was ted kennedy, robert byrd, daniel inouhe. John mccain under President Trump did not receive that
honor. He appears to be
economists were forecasting. but the gains were revised lower by 15,000 jobs. the unemployment rate ticking higher as you point out to 4% from 3.9%. now, that can happen with more participation in the labor force as more people come off the sidelines to look for a job. but in may s case, the labor force participation rate actually fell to 62.5%, but .2% lower than it was before, indicating that some people had become more discouraged and moved to the sidelines. now, also, the survey of households that is used to calculate that unemployment rate showed that the number of americans saying they held a job fell by actually 408,000. then there is the data from the household survey on full time versus part time employment which isn t also all that positive, but it is generally so, it did show the number of americans working full time jobs fell by 625,000, while the number who hold part time positions increased by 286,000.
months worth of job counts were revised lower by a combined 71,000 jobs. if you drill down some more into the key metrics, average hourly andings, how much we re all making, came in better or had hotter than expected at .4% higher than last month. estimates were for a .3% gain. that makes the year over year gain in wages for americans 4.1%, which is also better than the 3.9% or hotter than the 3.9% estimate. now, at the same time, there was a broader measure of unemployment that also looks at those who are working part time or multiple part time jobs but really do want a full time job as a result. the labor force participation fell to 62.5%. so not as many americans are participating in the workforce. now, the most robust job creation came in places like government, though. also leisure and hospitality, healthcare, social assistance, while the bigger job losses came in places like transportation
participation rate fell to 62.5% from 62.8% last month. the most robust job creation came in government, leisure and hospitality, health care and assistance. there was a little bit of good and little bit of not so good in that report, which is why wall street is a little bit more muted in its response so far. moving to the overseas front, there s continued attacks on the red sea in the middle east and what the implications could be for the global economy, given that an estimated 15% of all trade goes through the red sea. costs for shipping containers have skyrocketed because of higher insurance and fuel costs. there s the threat of not just
it coming in hotter than economists are forecasting with the latest reports. what do you think the strategy is, and if they said ok, times are not good, is there an easy fix for this, art? these politicians always do that, try to put the spin side on it there. it just makes no sense when you look at it objectively. but maybe there is someone foolish enough to buy their line, i don t. when you look at the participation rate, it s at 62.5%, you know, that s way below where it was when bill clinton was in office, it s just been dropping continuously. i don t know why they keep putting that spin. but you know, time will tell. the latest numbers are not good for the administration and i don t expect them to change their tune. what bothers me most of all, sandra, if i can, is they are still pushing more spending. still pushing putting 1,000 bucks in people s checks if you are born after 2005. they want to get rid of the debt, eliminate the debt for student loans, all of those