Continues to mount in this country. in the meantime, an already deadly election with enormous consequences, quezs of politicians killed ahead of mexico s version midterms. and the outcome could have huge consequences for the united states. first, the u.s. labor market is picking up steam after a disappointing jobs report last month. here s christine romans with your before the bell report. hi, jim. getting the job market back on track. the u.s. economy added back 559,000 jobs in may a big improvement from april. that hiring spurt pulled the unemployment rate down to 5.8%. but, jim, much work still needs to be done. the economy is still down 7.6 million jobs since the pandemic began. at this pace, it could take about 14 months just to get back to where we started. but wages also grew. that s something that the federal reserve is watching as it monitors rising prices. this week we will test how well investors can stomach signs of
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President biden warns that the progress we re seeing is not assured unless congress passes his infrastructure package. he and republican senators shelley moore capito of west virginia have been trying to hammer out a bipartisan deal but it hasn t been easy. biden just rejected a republican counter offer on friday. negotiations are expected to resume tomorrow but for how long? will the white house run out of time and patience? joining me now to discuss all of this is the secretary of labor marty walsh. secretary walsh, thank you very much for coming to the sunday show. thank you for having me today. okay. let me get your reaction to the may jobs report. 559,000 jobs. it s a lot of jobs but it came under expectations. am i making too much of that by pointing out it was lower than
Administration, let s reach an agreement on infrastructure. that s smaller, but still significant. and fully paid for. reporter: as washington waits to see if bipartisan broadband is in its future, the president is taking credit for the new-jobs report. america is, finally, on the move, again. reporter: the country is picking up steam. but not as fast as some economists had hoped. the u.s. economy added 559,000 jobs in may, short of the 650,000 that economists had predicted. as we continue this recovery, we re going to hit some bumps, along the way. of course, that ll happen. reporter: the unemployment rate, also, dropped to 5.8%. but there are, still, 7.5 million fewer people employed than there were in february, 2020. biden says his policies deserve credit for the jobs gains. more jobs than ever been created in the first-four months of any presidency in modern history. triple the rate of my
Talk about china s culpability at that lab. now, thank goodness this story is getting retold. people need to focus on probably the greatest story any of us have been through. laura: great to see both of you and have important analysis tonight. as fauci, crumbles, so, too, does the economy. 559,000 jobs were created last month is another big mythopoeic. president biden: the estimate of the growing economy from the bottom up. it is testament to put the new strategy that is growing this economy right from the bottom up. these numbers show we are on the right track. we still have a long way to go. we are on the right track. our plan is working. we are not going to let up now. laura: wait a second. are you following all of that? we are on the right track?