Bloomberg Talks US Labor Secretary Talks May Jobs Report, Immigration
Jun 6, 2025
The US added 139,000 jobs in May, exceeding expectations, as the Labor Secretary highlights the administration's focus on growing the workforce. Discussions revolve around labor force dynamics, with notable growth in construction and healthcare sectors. Wage growth is up nearly 4%, benefiting families while tying into immigration policies. The podcast also delves into government efficiency and the ongoing challenges of managing the labor market amid rising interest rates.
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Sustained Job Growth in May
- The U.S. added 139,000 jobs in May, exceeding expectations for the third straight month.
- The administration focuses on growing the economy and workforce by encouraging company investment.
Native-born Americans Driving Job Growth
- Job growth is happening mostly among native-born Americans in sectors like construction and healthcare.
- The administration aims to increase labor force participation with a focus on skilled workforce development.
Wage Growth and Tax Relief
- Hourly wage growth is up nearly 4%, benefiting American workers.
- The administration plans tax relief on tips and overtime to put more money in workers' pockets.