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As you know been a hour ago we received the latest u.s. jobs report and that report says we've got at 62.8% labor participation rate. that is a near generational low 62.8%. in britain that same percentage that same labor force participation rate is 74%. gregg: wow. >> under free market policies, they have got 74% labor participation rate. under our policies of all government, all the time, we're down to 62. there is a difference. gregg: thanks for the stats. stu varney, always great to see you. >> thanks, gregg. martha: some trouble in the skies as passengers witness smoke filling the flight's...

Like it to be. >> so if you keep saying it over and over and over again jillian, it doesn't matter. it's what the reality is if you have lost a job and someone is telling you things are really great, things are looking up and you are sitting on your couch and given up looking for work, you are not really buying that. >> it doesn't make it true. there is 62.8% labor participation rate. that's a lot of people. count on the elderly, a lot of people have given up on looking for a be jo. this has been a very weak recovery and this latest jobs report shows that it's fragile. >> quick answer to both ...

So there are lots of things happening in the economy that does not bode well for a long extended strike because there is still slack in the recovering job market. if you look at the labor participation rate it is quite low. when i was secretary of labor the average labor participation rate was about 67.7%. now it is 62.8%. in a workforce of 150 million people that percentage point means a lot of people who have left the workforce because they have become discouraged and are no longer looking for work. that is why the unemployment rate is dropping. >> i think you make a great point because we s...

The fed is going to hike interest interest interest rates in june. the unemployment rate is 5.5% but economist say pay is growing to slowly and the labor force precipitation rate. the percentage of those looking for work is the rate that is slighted to 62.8%. the economy created more than 200,000 jobs despite a port slowing growth and severe winter weather. the white house said the extreme cold could have temporary affects on growth. >> it could show up in the 1st quarter gdp. if it does i think it will bounce back in the 2nd quarter. it is also a factor in the economy from quarter to quarter.

Rate. that's the labor participation rate. no change there. so millions of people are still not in the workforce. one last one for you bill. we are not earning enough to keep pails with inflation. earnings -- average hourly earnings went up 2%. that's roughly what we suffered from with inflation. here is the conclusion, bill. it's still not at robust recovery which will rescue middle america. the 295,000 jobs is solid. bill: labor participation rate. 62.8%. why is that number not moving? >> reporter: large numbers of people think there is not enough opportunity in this economy to go back into ...