Labor secretary on April jobs report: ‘Opportunity’ to focus on specific states
U.S. Department of Labor Secretary Marty Walsh reacts to the economy adding 428,000 jobs in April, beating estimates by economists.
Responding to a question on the White House’s initiative to bring down inflation, U.S. Department of Labor Secretary Marty Walsh argued government spending won’t be the next contributor to rising consumer prices on "Varney & Co." Friday.
"Now we're seeing a lot of factories in China shut down," Walsh told FOX Business’ Stuart Varney. "So we're going to see another potential issue here with supply chain issues that's not caused, quite honestly, by America and American workers and the American economy. But it's a global issue."
While Walsh maintained that the federal government should still invest in specific sectors which help the American worker, he further warned global supply chain issues outside the U.S. can worsen inflation at home.
"You talked about supply chain issues, you talked about shipping company issues," Walsh mentioned, "those happen to be not in the United States of America. They're in China where the issues are. So again, what happens in one part of the world affects all of us."
SUPPLY CHAIN ISSUES WORSENING, REPORT SAYS, PUSHING INFLATION HIGHER
Walsh’s warning of further supply chain disruptions comes just as he was witnessing West Coast port backlogs "ease."