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>> absolutely, we have, again, labor participation 62.9% below 63% and it's kind of been hanging below there really since the 2008 financial crisis. paul: james, let me ask you about trade because that's a huge issue, the tariffs with china beginning back and forth. how worried are you that this is going to effect the momentum that mary is talking about and the economy? >> yeah, it's a drag. i think so this point you say that the trump tax cuts and deregulation are more powerful so far than the trade impact but who knows maybe at early stages of this. right now more are concerned, you see the ...

62.9% and wages, always a big part of the conversation if you compare june this year to june last year it has gone up 2.7%, a big increase, that is some positive news. >> not crumbs, as new jobs are added people say maybe it is time to compete to get better employees and maybe get another job, people feel freer to move up. >> that drives up wages ultimately, if the labor pool is shrinking you got to pay folks more money. >> 213,000 new jobs in the month of june. >> her job is the headlines, she joins us now. >> it is friday. we now know the woman you have been talking about who scale the statu...

Between may to june. that represents a 2.7% increase on a year over year basis. i will point out, the rate which some people call it the under employment rate. that's at 7.8%. more people looking for job and 62.9%. >> a couple of industries to focus on as well. >> professional business services added 50,000 jobs and manufacturing added 36,000 jobs and healthcare 25,000 jobs and construction of 13,000 jobs. the notable decline regarding to job losses was in retail where we saw 22,000 jobs lost. you put all of that together over the past two months between april and may, the labor department did...

Combine everything january and february. revised our numbers down by 50,000 and march was a bit of a miss. labor force participation at 62.9%. a little bit of a softer number. manufacturing added about 22,000 jobs. that's good. retail just continues to can't get out of its own way. toys r us bankruptcy is going to cloud some numbers. retail lost a few thousand jobs. every toys r us in america shutting down. a lot of people put out of work. retail was week. manufacturing good. overall the number on the soft side. >> little on the soft side. what do you think caused the softening of trump's econ...

The jobs was a bit of a disappoint. we come in with 156,000 jobs, it's one of the more volatile months. it's hard to put everything into this number. expectations for economists were 180,000 t. higher employment rate ticks higher to 4.4%. i will also point out that average hourly earnings, that's something a lot of economists want to watch in order to see if wages are rising given what's happening with the economy, we're up one-tenth of 1%. we did get downward revisions to both july and june of about a total of 41,000 jobs, labor force participation, a measure of how many people were actually ...