The June jobs report included a mixed bag of labor data with 206,000 nonfarm payroll jobs added to the US economy and the unemployment rate rising from 4.0% to 4.1%. Year-over-year average hourly earnings remain unchanged at 3.9%.

Acting US Secretary of Labor Julie Su comes on The Morning to discuss the employment growth seen under the Biden administration.

"If you recall, on this day in 2020, under the last administration, the unemployment rate was nearly 12%, and there was no national strategy to address the economy or the global pandemic," Secretary Su explains. "President Biden came in with a national strategy, we've been implementing it, and of course there's more work to do."

Americans are still struggling with the price pressures affiliated with persistent inflation and the rising cost of goods, wage growth being a figure at the top of many peoples' minds as the US cost of living continues to increase.

"Real wages have outpaced inflation under President Biden. Again, that is not an accident, that was not inevitable. It's because the president understands that we both need to create a lot of jobs, and we need to make sure there are good jobs, good jobs, meaning somebody can make a living wage, support a family, put a little bit away for retirement," Su states.

Su goes on to explain how the administration seeks to protect workers from heat and other workplace conditions, address CEO-worker pay gaps, and promote equity for union workers.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video Transcript

In the June Jobs report, we saw unemployment tick higher smidge there by about 1/10 of a percent coming in at 14.1% and ultimately wage growth a touch lower.

So what does this tell us about the economy right now?

We have Julie Sue the United States, acting Labor Secretary, Terry joining us here on Yahoo Finance, Julie, great to see you here.

Um First and foremost, just wanna get your read in on what we're seeing in this labor economy and where there are areas that the White House still needs to consider doing even more work.

Another solid jobs report 206,000 jobs created last month, bringing the total since President Biden's come into office to nearly 16 million, the unemployment rate remains at historic lows.

It ticked up slightly to 4.1%.

But remember before this, it was at or below 4% for the longest stretch since Neil Armstrong stepped foot on the moon.

We are looking at not just temporary improvements to our economy but a national strategy that President Biden brings that has resulted in the most robust recovery from 2020.

That could have been imagined if you recall on this day in 2020.

On the last, under the last administration, the unemployment rate was nearly 12% and there was no national strategy to address the economy or the global pandemic.

President Biden came in with a national strategy.

We've been implementing it and of course, there's more work to do.

We are not going to reverse decades of under investment in our nation's workers in our nation's industries in growing jobs overnight.

But we're on the right track.

We're making progress and we'll keep at it.

Uh Secretary, what do you say to those Americans that are going to see this report probably likely over the weekend and they're going to notice an uptick in the unemployment rate and job growth slowing down.

Do they have reason to be concerned?

I don't think so.

I mean, you know, again, it is a very small uptick and it remains historically low.

I think what American workers are seeing is investments in their communities to the tune of $2 trillion under President Biden's investing in America, agenda, roads and bridges being fixed, airports, being modernized, clean drinking water coming out of faucets, high speed, reliable internet being delivered.

A commitment to climate change.

All of these are happening in communities.

And what that's doing is creating good jobs.

And our promise is that every worker who wants a good job should be able to get one.

And when I travel the country in our good job summer tour.

We're talking about the importance of a good job.

What that means to a family, to a community and why the president is so committed to making sure that everybody can have one.

The reality is with wages and there's still so many in places here, like here in New York where you can feel like you have a good job, but the wage still might leave you in what's classified or considered a poverty level?

How are we seeing moderation and, and in a better scenario for a lot of people out there, how are we seeing wages continue to move higher and outpace inflation because that is a concern for many households.

Yes, it's such a good point.

So real wages have outpaced inflation under President Biden again.

That is not an accident.

That was not inevitable.

It's because the president understands that we both need to create a lot of jobs and we need to make sure there are good jobs, good jobs, meaning somebody can make a living wage, support a family, put a way for retirement as he always says.

So you can look your Children in the eye, tell them everything is going to be ok and mean it, so the actual quality of the jobs that we're creating are very different.

We're focused on ensuring that people have benefits so they can go to the doctor when they're sick, that there's some real security and when I travel the country and see people entering a community college in order to get a, a skill to do a manufacturing job that did not exist before or in an apprenticeship program to help build up their own community.

I see that hope and security that only comes from a good job and we need to keep on doubling down on those investments and that's why we need to keep up the work that we are doing.

Secretary.

This jobs report comes against a challenging period for the president.

A couple of key moments coming up for him over the next few days, a lot of Americans are concerned about the president's ability to continue in this role over the next few years.

Should he win re election?

You've worked closely with the president.

Are there concerns well placed about his ability to do this job?

I don't think those concerns are well placed at all.

I will say I was just with him earlier this week, we announced the first nationwide standard to protect workers from heat.

You know, it's hot out here.

Everybody knows it for workers.

Heat is not just an inconvenience, it's not just a discomfort, it can be a workplace hazard and nobody should have to be afraid that they're going to die on the job because it's too hot when we can do simple things like shade, like rest like water.

And those are things that are in the first national standard.

That got done because the president said to me last year, what are we doing to make sure that those workers are protected?

You know, you're asking what I'm concerned about.

I have the same concerns that the President has.

I want to make sure that workers get a fair shake.

I want to make sure that we continue to combat the massive gap between CEO pay and front line worker pay where CEO S make in a week, what workers cannot make working several years.

We want to bring down the cost of prescription drugs and relieve student loan debt so that people can look into the future with hope.

We fought for retirement security.

We're putting more money into workers' pockets.

Just this past week, a million workers got eligible for overtime pay because of this president's economic policies.

So I share his concerns that this economy needs to work better for working people need to make sure that leaves no one behind.

And that's the work that we are very focused on making sure that we reverse decades in which this was not the policy.

And so as President Biden has listened to working class families and households and tried to do and put forth those efforts that you just ran down the list of if those same households are expressing concern about the president's ability for another four years to do a very high demanding job.

What do you believe the talk would be in the calculus in that instance.

I mean, again, what I hear from American workers when I travel is they are grateful that they have a president who finally sees them, who finally understands them.

A president that walked the picket line the first time ever in history, a president who supports the right to organize.

And we're seeing historic gains for working people, higher wages benefits the right to join a union.

Again, those are fundamental.

Our president is called Union Joe for a reason.

And he understands that when unions do well, the middle class is stronger, we build more pathways for people to feel a sense of security.

That is what we are doing.

And we know and I know from traveling that that is what people see.

And again, we have to continue to deliver and that is why we're on the right path, but we're not finished yet.

In fact, we're really just getting started.

Julie Sue the United States, acting labor secretary.

Thanks for always making time for your finance.

We appreciate it.

Have a good weekend.

Thank you.

It's always great to be with you.

Thank you.