little he can do except watch this unfold. you make a key point, the credibility with the american people is critical. it s going to take time. inflation is not going to go away by inflation day. can the president convince the american people he s telling the truth about where we are. gas prices, a new record high almost every day. it s not much a president can do. gas is $4.76 on average a gallon. $5.39 if you buy premium. the president is going to the middle east in europe. his staff says he will go to saudi arabia and meet with the crowned for instance. his staff says that. his staff says in part that s to try to get them to increase oil production. the president was asked about that today. that s not what he said. i m not sure i have no direct plans at the moment, but let me tell you that i have been engaged in trying to work with how we can bring more stability
before the may jobs report comes out in about two hours. you just saw him. todd piro is in live in studies row with the latest on the inflation fallout. good morning. todd: white house is bracing for expectedly underwhelming jobs report. the gloomy report preceded by other bad news new research private sector payrolls only increased by 128,000 last month. spiraling downward from april s 202,000 job gain. last month, according to adp, u.s. companies added the fewest jobs since april 2020. reflecting employers struggle to recruit and retain workers despite a record number of job openings. the president is scheduled to speak on that report later this morning in his home state of delaware. he is on vacation this weekend. all this as economists now say we are on a fast track to paying $5 a gallon for gas across our nation. overnight, the national gas price average continuing to break record highs now at $4.76 per gallon up 5 cents from
well, gas prices continue to soar across the country. several states are seeing averages higher than $5 a gallon. according to aaa, the national average is $4.76. that s up more than 50 cents in one month. joining us is the head of petroleum analysis at gas buddy. patrick, welcome back. we need a buddy, with gas as high as it is now. what is the projection? i saw you tweeting about how soon it could reach $5 a gallon. yeah, that s right, victor. i think it s just a couple of weeks away at this point. we had a little bit of calm before the storm the week ahead of memorial day, things slowed down greatly. but they have gotten right back to it. prices have accelerated this
unemployment staying at 3.6 pers percent. bill: there are at the moment 11.4 million jobs open and 6 million unemployed americans which means the math says two jobs for every person that s looking for work today. gas is soaring. another record high today. $4.76 a gallon now. that s nearly twice as high as when president biden took office. bill: here is the good news. wages rising slightly up 5.2%. not enough to keep up with inflation is the bad news. that disparity creating a nationwide pay cut. team fox coverage this morning. jacqui heinrich and we begin with kelly o grady live from los angeles. kelly. today marks the first weekend of june. you would normally have people excited for weekend getaways, beach trips. instead drivers are facing more dread at the pumps. today is the seventh straight
seeing everything costing so much more. you take a look at the national average of gas prices today it costs $4.76 a gallon compared to just last month when it was $4.20 and a year ago when it cost $3.04 and the president in his speech trying to reassure people things will get better. take a listen. today s good news, a lot of americans remain anxious and i understand the feeling. there is no denying that high prices, particularly around gasoline and food are real problems for people. but there s every reason for the american people to feel confident that we ll meet these challenges. reporter: and, of course, regaining that confidence is going to take a lot of work. you look at this recent gallup poll and 46% of people believe that the economy is in poor shape. only 14% think that it is in good or excellent shape and, wolf, of course, it was just this week that treasury secretary janet yellen told you on your show she believed she was wrong when last year she