the gains since biden took office. bill: the biggest rate hike in three decades. new york post, it s looking grizzly. dana: adding to the concerns is the producer price index for may out just moments ago showing wholesale prices up 11% year-over-year. all of that gets passed right onto you, the consumer. bill: it does. the price of gas holding steady, record $5 a gallon all threatening to overwhelm a white house in crisis. we begin with griff jenkins on the north lawn. good morning. that s ppi number which increased month over month is not welcome news at the white house because it rose and it is rising is an indication that inflation may not yet have peaked. that number, by the way, without going into the weeds represents what companies pay to make the things we buy and that cost gets passed on to us. by the way, bill, i doubt the president wanted to wake up feeling grizzly this morning. a bear market occurs when an index like the s&p falls 20% off a recent high. i
tell. david lee miller in new york. are you concerned there are reports that over 500 cops are resigning and over 1,000 are retiring? does that concern you? no, it does not. new york city police department is an amazing career. i know it firsthand and we are going to find young men and women who are going to want to be a member of the new york city s finest. dana: mayor and former cop adams saying he is not worried about a mass exodus of officers from the nypd and they are on pace for record resignations and retirements as crime sharply increases in the city. let s bring in former lieutenant cardinale. why not stay it s important for younger rekoouts so they can learn from them. we can t afford to lose the people. what does he gain by saying
in the u.s. those workers are still fighting for just $15, but pay isn t the only problem. m.i.t. s professor writes american workers also receive less notice and severance when fired compared to workers in other wealthy countries. they take less vacation, unlike their peers in most other rich countries. they don t have guaranteed paid parental leave. the labor shortages that we re seeing, the record job openings alongside record resignations are a market phenomenon that compels companies to improve on some of these policies to attract workers. we ve already seen this in terms of pay. average hourly earnings for workers have risen by more than a dollar in the past year. that s not just good for workers, it s also good for the economy. that s because since the dotcom era of the 1990s worker productivity has stagnated. at smith notes in bloomberg, the 2001 recession contributed to an oversupply of non-skilled workers in cities. many companies reduced employee