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tv   Shepard Smith Reporting  FOX News  June 1, 2018 12:00pm-1:00pm PDT

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2018 never ceases to disappoint so far. >> dana: better than 2017. i have to say. thanks for joining us, cries. i'm dana perino. here's trace gallagher in for shep smith. >> i'm trace gallagher in for shepard smith. breaking news. the summit between president trump and kim jong-un will happen on june 12 in singapore. that is the word from the president. watch. >> you people are going to have to travel because you'll be in singapore june 12. and i think it will be a process. i never said it goes in one meeting. i think it will be a process. the relationships are building and it's a very positive. >> very positive thing. comes after president trump met face to face with kim jong-un's right-hand man, kim young chul hand delivering a letter from the north korean dictator.
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the president said it was a nice letter, an interesting letter but he wouldn't say what was in it. he said it led to a two-hour conversation with the north koreans. the president said he thinks kim jong-un is committed to getting rid of his nukes. let's get to the chief white house correspondent, john roberts. he's live on the north lawn. john, you were in the pool. he said it's confusing. he said the letter was interesting but he said he didn't open the letter. did he? >> he said he did not open the letter, which is interesting. he said at the beginning, nice letter. towards the end, he said i haven't opened it yet. he made maybe i'll get a big surprise. but i asked the president where the state of relations between the united states and north korea are as of 3:00 eastern time on june 1. he said he thought that they were good. certainly a lot better than they have been between the united states and north korea over the decade. meeting with kim young chul for about an hour and 15 minutes.
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far longer than anybody thought when we were told by the white house that young chul and deliver the letter. there you can see him with john kelly. we heard that he was going to drop off the letter and be on his way out. it was on for 15 minutes, a half an hour and that stretched into an hour and beyond. the president said when they sat down together, they just started having an interesting conversation. they went over so many different topics. they went over sanctions, denuclearization. they didn't go over human rights. the president said that would be saved for another conversation: he said they talked about ending the korean war and ending it on june 12. that would be a monumental step forward in history, that they prepare the document. i asked the president if they had a document prepared or working on one.
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he seemed to suggest that they were. if that summit on june 12 which the president said is a preliminary get to know you meeting ended up with a peace agreement being signed with north korea, south korea and the united states and china has some say in it as well, that would be historic, trace. >> he said it was historic and he said yeah, we could end the war. i was fascinated by your question when you talked about denuclearization. he said there's been kind of a difference in defining denuclearization between the united states and north korea. a big gap there. >> we don't know what north korea is thinking about that. we've seen in the past, they take incremental steps look like they're ending the nuclear program and at the same time they're staking steps to beef up their nuclear program. john bolton told chris wallace april 29 he thought the libyan model for denuclearization would
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apply. what bolton was talking about is the idea of boxing up the north korean nuclear program and taking to it oak ridge, tennessee as what happened with libya. what the north koreans read is the fact that the united states never gave qaddafi security guarantees and eight years later he was pulled out of a sewer and shot in the head and dumped back in a ditch. north korea said that's not the model we're looking for. the president said that is not the model we're thinking about. we're thinking about giving you political guarantees, security guarantees, economic guarantees. i asked the president, i said how can you transform -- he talked about this in his speech in seoul -- he talked about a transformation of north korea from this hermit kingdom with a terrible economy and people are starving to a vibrant economy and one that can provide for its people and one that joins the world, the world of nations. i said to the president, how can you do that and still leave kim
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in place? because he's been, of course, the head of this repressive regime. the president thought that it could be done. so clearly these conversations that have been going on between the united states and north korea are leading down a path where they think there can be some transformative process that leaves an authoritarian regime in place, where prosperity can flow down to the people of north korea that have been so badly repressed and oppressed over the decades. trace? >> so the bottom line here, that john roberts has a trip coming up soon. my question is, when do you think, john, we'll get the details of how this thing will go? >> that's what the teams in singapore and the dmz right now, the white house teams, one from the state department, one from the national security council are doing. joe hagan's team in singapore is going over the logistics for the meet, down to who is in who rom,
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what they're going to talk about and set the agenda. the team in the dmz is doing the diplomatic part. at the end of the meeting, you want some sort of communique that you can say we agree to abcdxy and z. we don't have any level of detail on that. what dough have is president trump coming out this afternoon saying john, it's a good thing you didn't cancel your ticket when i cancelled the summit thursday because you're going to singapore friday. >> you're going to singapore. it's fascinating, it's historic and it is mind-blowing, john roberts live on the north lawn. let's bring in josh letterman. this is mind-blowing. the president was teasing the media saying, wouldn't you love to see what is in the letter and how much do you got and the letter was fascinating and interesting and then later he said no, i haven't read the letter yet at all. >> right, trace.
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clearly the letter was an excuse for him to come here, have this historic interaction with the united states president. the letter in and of itself is symbolic. it's not the whole deal here. to see how quick the president was after this two-hour meeting to raise the expectations for this summit that is now barrelling ahead on june 12. didn't really sound like a get-to-know-you meeting. sounds like a major moment, the start of a relationship between two countries as he said, that have not had diplomatic relations in decades. now heading to the summit in singapore, a lot on the table for this to meet the bar that president trump has set today. >> if you missed it, we've been talking about this for an hour now. i want to play some sound here when the president talk about the evolving relationship with the united states and north
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korea. watch this. >> i think they're okay. they're good. like the relationships with a couple other countries? probably not. but i think the relationship with north korea is as good as it's been in a long time. they had no relationship under the previous administration. it was nothing. it was nothing. it was nothing. this should have been handled a long time ago. got to a critical point. this should have been handled many years ago. not only by president obama but other presidents. >> here's the amazing thing. everything is going forward, doing well. the funny thing is, you talk about the south koreans. they believe that kim young chul, the number 2 man in north korea, is a very bad guy. they believe he was behind in the attack on a naval ship in
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2010 that killed 46 sailors. we believe he was behind the attack on sony pictures. this isn't a guy that is coveted in the united states and all of a sudden you have this mini summit today that is leading to this june 12 summit. this is moving at break-neck speed. >> it is. supporters of the president says you don't make friends with your friends. you don't seek peace with people that you're already close with. you secretary it with enemies, people that you have really difficult issues, like the one you described. our problems in south korea's problems with north korea's behavior over many decades. there's a wide gap that needs to be bridged by the two countries. you know, he's talking about how things are better than they have before in forever. a few months ago, the president was threatening fewer and fury. what has changed from then till now other than a change in rhetoric? we haven't seen a change in behavior other than the three americans that were released by north korea. on the key issues that the u.s.
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and its allies are worried about, the nuclear issues, the other troubling behavior, that still has to be worked out by the president and kim jong-un when they meet in singapore. >> if people are thinking this is about lucy and charlie brown and moving the football, this man, this kim young chul that came here, he has the ear of kim jong-un. we know that. he was at both of the meetings with president xi in china. he was at both of the summits with south korea. he was right next to kim jong-un. he's the one that delivered this letter to the president today. josh, my question to you is, the letter wasn't read but it seems like the letter isn't that important. it's a symbol, if you will, for the fact that, you know, kim jong-un is saying, okay, this is my token of respect for the president of the united states. i'm going to write him a letter. doesn't matter what is in it. we're going to have the meeting june 12. this is a symbol that they can put in a museum some day. >> that's right, a show of
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respect. one leader to another. it's an effort to try to correct what was a show of disrespect that was trump was complaining about 1 1/2, 2 weeks ago when he cancelled the summit. north korea trying to show that we're here, we're ready to actually make this go forward. the other symbolic part that we shouldn't lose track of, how significant this will be back home in north korea. this type of oval office reception, a senior of north korean in the white house with the president, very significant. the kind of relationship with a major world power that north korea has wanted to be able to project to its people for quite some time. >> we were stunned by the president talking about ending the korean war after so many years. i want to play this sound bite. this is fascinating. watch. >> we talked about it. we talked about ending the war. this war has been going on -- has to be the longest war. almost 70 years, right? there's a possibility something like that -- that's more of a
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signing of a document that is very important in one way and historic lick very important. we'll see. we did discuss that. the ending of the korean war. can you believe we're talking about that? >> nobody is talking about reunifying north and south korea. but symbolism goes a long way. when you talk about the president of the united states saying june 12, we could sign a document that could end the korean war after decades and decades and decades. that in itself is significant, josh. >> its hugely significant. it will create anxious allies for the u.s. like japan who says hold on a second. we have a lot of work to do before we talk about ending the war that has been in existence for decades, the armistice agreement in place. there's a whole lot that has not been ironed out. for the president to be already talking about how we're going to
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end this within a couple weeks seems to suggest a rush to have conciliation with north korea that might not be backed up by the kinds of facts that our allies in the region really want to hear about. >> yeah, the first part of this and i'll let you go, the first part of this news conference, the president said it's a process. might take several meetings. then he said we're going to end the war and who knows what's going on after that. it really will be maybe months, maybe years. going to take a long time, this is a -- certainly a step in the right direction. >> it is. look back at the iran nuclear deal. these are difficult things to work out. not the kind of thing that you can easily foresee being worked out over a couple hours in singapore, trace. >> josh letterman, good to see you. great insight. thank you. we'll have more ahead on the president's announcement that the meeting with kim jong-un is back on. plus reaction from the state department is ahead.
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imagine on june 12, the president is going to go to singapore and meet with the korean, north korean dictator and we could end the korean war. more on that coming up. eart... or joints. but do you take something for your brain. with an ingredient originally found in jellyfish, prevagen is the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember. how much money do you think you'll need in retirement? then we found out how many years that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to,
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>> trace: the president says his june 12 summit with kim jong-un is back on.
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rich edson is on hand. talks have been going outside of the u.s. >> you have the highlight of today in the white house. you have the meetings earlier this week and the day before in new york city. there's been ongoing discussions in singapore. that's a logistics team that is working there to put the summit itself in place. what you're going to do with the government officials, the media, how the venues play out. those are very involved discussions. in the demilitarized zone, there's discussions how you'll get north korea to give up their nuclear weapons. what kind of inspection regime is that going to look like. what north korea will receive in return and when it's going to receive it. you know, when you have these meetings between principles, between the leaders of two countries, it's not as though they start from scratch when they begin their negotiations. so you have a lot of work that is done before the leaders come in. even the president has acknowledged this might take a little bit of time. on top of that, you have the
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north koreans meeting with the russians. sergey lavrov, the russian foreign minister was in pyongyang meeting with kim jong-un. this is the first time that lavrov has been in pyongyang since 2009. he's invited on behalf of vladimir putin, the president of russia, kim jong-un to come to moscow. he said putin sends his warmer regards and best wishes in the big endeavors. so russia is trying to move in on these discussions between the united states, south korea and north korea making sure that its not left out. china's involved in this because north korea leader kim jong-un has meet with xi jinping twice. so there's a lot of diplomacy ongoing between north korea, the united states and its allies and all of the groupings together with different countries trying to work in on this, trace. >> trace: interesting. when the president talkeded to, he was asked about the meeting with the russians.
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he said i don't like it but could be a good thing, could be a bad thing. the diplomacy wheels are turning. mike pompeo says that this hole thing could take some time. >> it could. he saying this is a very long road here, potentially could be. because no one ever thought in his words that the united states and north korea would hold agreement and everything would go smoothly. he was responding that over the last year, even six months, wild swings in the way that north korea has been talking, the way that the united states has been talking the presentation, the diplomacy. he said you have this entrenched island from north korea that they have to have an arsenal to safeguard their security. and now it's up to mike pompeo, the trump administration, japan, south korea to convince north crow that in fact when you build this arsenal, it creates a risk to you. it's a threat for you to have this. so it actually safeguards your
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safety, the kim regime, if you surrender the nuclear weapons and work with us. this could end a war that is decades old, a number of issues here. the president has acknowledged that this could take two or three summits between them. so you also have a very compressed timeline as well. because not only are you trying to get this logistical work finished before president trump and kim jong-un sit down june 12, but you also have missed a few days because the u.s. and north korea weren't talking here. that prompted the letter from president trump threatening to scrap the summit. >> trace: and just to get this reaction, we're 11 days away. the early going, they said one of the reasons this is in singapore because they weren't sure how kim jong-un was going to get there. they're still flying these old military planes from russia that can't go more than a couple thousand miles. that was also a factor that
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played into this. now we're back to the drawing board, how does he get there, what will happen. a lot to play out. >> when you're talking about a logistic team between china and the united states. it's north korea. a different ball game. the first time that xi jinping hosted kim jong-un, kim jong-un left the country as leader for the first time. he took the train to china. >> trace: took the train. rich edson, great information. thanks so much. kim jong-un's father wouldn't fly at all. he was afraid the planes would be shot down. one more time, the trains he was on had to be guarded because he was afraid they would attack the train. a lot going in to this upcoming meeting on june 12 that is now set. more ahid. the political fallout. depending what happens on june 12 or what doesn't happen.
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we'll have much more on the breaking news, the summit june 12 is back on according to president trump. people would stare. psoriasis does that. it was tough getting out there on stage. i wanted to be clear. i wanted it to last. so i kept on fighting. i found something that worked. and keeps on working. now? they see me. see me. see if cosentyx could make a difference for you- cosentyx is proven to help people with moderate to severe plaque psoriasis... ...find clear skin that can last. don't use if you're allergic to cosentyx. before starting cosentyx, you should be checked for tuberculosis. an increased risk of infections and lowered ability to fight them may occur. tell your doctor if you have an infection or symptoms. or if you have received a vaccine or plan to. if you have inflammatory bowel disease, tell your doctor if symptoms develop or worsen.
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>> we'll be meeting june 12 in singapore. it's a get-to-know-you situation. mike has spent two days doing this. we've gotten to know their people very well. you people will have to travel. you'll be in singapore june 12. and i think it will be a process. i never said it goes in one meeting. it will be a process. the relationships are build.
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>> trace: more now with president trump saying the summit is back on. collin herald is here, campaign manager for scott brown. we did a google check. we're doing a timeline of this relationship with kim jong-un and president trump. we find that back in november he called him a sick puppy and a short fat guy and little rocket man. as late as january, they went back and forth saying trump, look, i have a bigger button. we're talking about nuclear weapons here. now the president says the summit is on. by june 12, we could end the korean war and who knows what happens beyond that it's stunning. >> it is, trace. the one thing i will say listening to that whole exchange with president trump, he seemed at ease talking to the press. reminded me of candidate trump. where he was engaging with the press on the news of the day. as it relates to north korea, most people expect progress, not perfection. a lot of people will buy the
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argument that president trump and secretary of state mike pompeo that this has been a long time in the making, not a problem created open the president's watch and he's gotten further than anybody else. most people will give him credit for moving the ball along. >> trace: we have video coming back. but i want a quick reaction on the the letter. the letter wasn't read. does it matter at all? >> i don't know. who knows what it says. a lot of hiccups could be along the way like last week where it was abruptly cancelled. now it's back on. these are two unpredictable leaders each have their own way of negotiating. i wouldn't be surprised if there were a few more bumps in the road. >> there be more bumps knowing north korea. we have the president on his way to camp david. reporters were asking him
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questions. let's play this out. watch the president.
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>> trace: yeah, the white house staff advised us ahead of time, the president didn't say anything to the media. we wanted to hear the opportunity of the questions. he's going to camp david. his wife is not going with him. it's important. the president just 37 minutes ago held a significant news conference where he announced june 12 the summit with north korea is on in singapore and talked about what they hoped to accomplished. he said he looked at the letter and it was fascinating and interesting. he teased the media saying wouldn't you love to see it. how much would you pay. towards the end, the president said he didn't look at the letter. he didn't open the letter. he said there will be time for him to open the letter. the bottom line here, in fact, the june 12 summit is on in
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singapore. do we still have collin reid? >> i'm here. >> trace: you saw the president. he's going to camp david. the question now becomes, you know, it's high speed. we have 11 days. this thing is on. we need to get moving. >> right. one of the things interesting to watch is the reaction that comes in from democratic lawmakers who i don't think will know what to make of this. i think all americans want this thing to go well. this foreign policy is an issue where we came together. i don't know if they can say nice thing about president trump given how angry their base is at him. it's curious to see how politicians on both sides of the aisle react to this news. >> trace: yeah, for the people that hate the president, it's a tough day. with the unemployment rate down the lowest point in 50 years. i'm not saying the president gets the credit for that. he's in the office, he's in the chair. with the north korea thing, tough day for the people that
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don't like the president. at some point, you have to acknowledge whether you agree with this kim jong-un meeting or not, you know, it's a step in the right direction and it's a positive step for america. collin? >> i agree. i think that's something that we can all get behind. look, president trump, he's an outsider. he's not a politician. he doesn't come from any set sort of idealogical background. he's going to negotiate more and that will free him up to do things up that maybe traditional republican or democrat may not like. he's got more wiggle room because of his status as someone that doesn't come from politics. >> trace: yeah, he was intimating that. thanks, collin. the president was intimating this could be a process and could take a long while because he knows the history of north korea. they could back out in 15 minutes. we in the meantime will have continuing coverage of the news on north korea ahead.
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we'll go back to the white house for the developments after the big meeting. and then we'll look at the other headlines coming up. in the midd, so he got home safe. yeah, my dad says our insurance doesn't have that. what?! you can leave worry behind when liberty stands with you™. liberty mutual insurance. one picky customer shouldn't take all your time. need something printed? the business advisors at office depot can assist with exactly what your business needs to grow. get your coupon for 20% off services, technology and more at office depot and technology and more it's just my eczema again,. but it's fine. yeah, it's fine. you okay? eczema. it's fine. hey! hi! aren't you hot? eczema again? it's fine. i saw something the other day. your eczema could be something called atopic dermatitis,
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>> i'm lea gabrielle. police in tennessee captured a cop killer. the trooper arrested the man without problems. cops say wiggins killed a sheriff deputy who was responding to a suspicious vehicle call. heavy rains from alberto causing problems. there's deadly flooding in virginia. this drone video of charlottesville. one body was recovered from the flood waters. another person is still missing. an american airlines employee driving a van off the fourth floor of a parking garage.
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this happened in miami international. the van landed upside-down. the man driving was hurt but should be okay. the news continues after this. off
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change the course of your treatment. ask your doctor about victoza®. >> we're going to make sure when this is over, it's over. not going to be starting up again. they have the potential to be a great country. i think south korea will help a lot. japan will help a lot. china will help a lot. >> trace: more on fox's top story. president trump announced he's heading to singapore this month. in nine days to meet face-to-face with north korean leader kim jong-un, a week after he cancelled the summit. blake burman is live at the white house. blake? >> hi, trace. a complex issue as we know. a simple message from president trump on this day to reporters. back your bags.
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the skingapore summit is up. the commander-in-chief sitting on one side of the desk. on the other side, number 2, kim jong-un's right-hand might, kim young chul and mike pompeo. the president describing it as a getting-to-know-you kind of meeting. the president was bullish on the prospect of this happening 11 days from now on june 12 and where things stand in the process as a whole. listen here to the president. >> i have never said it happens in one meeting. you're talking about years of hostility, years of problems. of hatred between so many different nations. i think you'll have a positive result in the end. >> the president saying that he feels that kim jong-un is committed to denuclearization. he also sent not really a warning shot but a reminder that the u.s. has hundreds of sanctions ready to go.
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but for now because of now where things stands, the hundred plus sanctions are on hold. trace? >> yeah, the big reason for this meeting was the letter, right? the letter was being delivered. the president said the letter was interesting. yeah, but it was interesting but i didn't read it. >> that alone would be a major headline. the number 2 man coming to the white house, the highest profile official from north korea in 18 years and not only that, delivering a letter written from kim jong-un to president trump. we were led to believe this might be an interaction that lasted five minutes or so. i went 80 minutes inside the oval office. the president, as you said, at one point saying that it was an interesting letter and then admitted when he spoke to us at that point, he hadn't read the thing. >> i haven't seen the letter
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yesterda >> well, i think it's unlikely
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that he doesn't know what is in it. we have a story on line right now that says that people that are familiar with what is in the letter say it's anodized. pleasantries, i'm looking forward to seeing you, nothing that advanced the discussion of disarmorment. no commitments. no new suggestions of concessions by north korea. >> it's weird. you don't often see -- people go into the white house. you don't see the president meet with somebody for 80 minutes and then walk them out of the white house. what does that tell you, the walk-out? does it tell us that he wanted to address the media and that was a good reason to walk the north korean general out of the white house or what does that mean to you? >> yeah, the pagentry matters. it matters particularly in asia. that was a walk from the white house to the car. that was partly for asian consumption in north korea,
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tokyo and seoul. there's concern throughout the world how these talks are going to progress. at the end of the day, trump wanted to come away with a bit of a political win for everybody. certainly for north korea. they just had their envoy set at the white house. the president, as you pointed out, walked him to the curb. so a lot of face was given to the north koreans. they can see that the u.s. is serious about this summit. it's a political win for president trump. shows some advancement in this stalemate. nothing particularly constructive yet other than the formation of a relationship, which maybe that is constructive. for the region, i was in tokyo last month. it's obsessed with what is going on with the relationship between the united states and north korea. two nuclear powers in the middle of which sit vulnerable areas, south korea and japan. they're concerned this advances as well. they can see the president doing all the right things from the
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asian perspective to make sure that this summit at least begins. what happens there, what goes on at the summit, that's still very much of a dice roll. >> trace: yeah. a big deal for japan. while he was firing off the test missiles, they were landing in the sea of japan, close to the nation. it was big for them. i remember six months ago doing the detailed records about checking the mileage from north korea to alaska, north korea to the west coast of california and how far it is. how far to guam. i want to play some sound from the president. here's the language that he used about kim jong-un not that long ago. listen. >> the united states has great strength and patience. but if it is forced to defend itself or its allies, we will have no choice but to totally destroy north korea.
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rocketm rocketman is on a suicide mission for himself and his regime. >> your thoughts today, john. >> yes. the u.s. has a security relationship with japan. if it's attacked, the u.s. comes to the support of japan. so that missile wouldn't necessarily have to get to the united states. it would, as you point out, have to hit an ally in the region. the bigger question here though is at the end of the day, north korea's survival and the regime survival depends upon having those weapons. it seems a long reach to believe that they actually will denuclearize in the manner which the united states expects. >> trace: and that is the $64,000 question, the definition of denuclearization seems to be different from north korea's perspective. john bussey, great to see you. >> pleasure. >> trace: well, ahead, a closer
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look at north korea's former military intelligence chief. the man that just gave the president the letter today. kim young chul is the dictator's closest aide. more on him next.
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duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. >> trace: what a difference a week makes. the president says his meeting with kim jong-un is happening on june 12. he made the announcement today after meeting with the highest ranking north korean official to visit the united states in 18 years. kim young chul at the white house this afternoon delivering a letter from the north korean dictator himself. he's one of kim jong-un's closest aides and his country's former spy master. benjamin hall has more on him. benjamin? >> hi, trace. kim young chul is the quintessential north korean insider. a military hard line general and he's worn so many different hats. he's believes to be 70, in his 70s. they think 74. he's worked his way up the ranks
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ever since he started with the regime. it's believed he began as a border guard at the dmz. he's been a body guard for kim jung il and a liaison officer with the u.n. and member of the team that held break-through negotiations with south korea in the 90s. so he's well-versed when it comes to sitting around the negotiating table. he's now a four-star general. he's head of the main north korean intelligence service and he was head of the rgb from 2009. in that time, he's believed to be responsible for the 2010 torpedos of the south korean naval vessel in which 46 sailors are killed and responsible for the 2014 hacking of sony films. he's served three generations of the kim jong-un family. they say he's third most
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powerful after kim jong-un and kim jong-un's sister. trace? >> trace: benjamin, this trip to the u.s. was put together quickly. what do we know about the details? >> kim young chul is sanctioned by the u.s. they had to wave the sanctions to allow him in. he had to fly in to new york. they weren't sure he was going to make it to d.c. he's been at every major meeting. he was at the olympics. he's the man that gets things done. no doubt he will be there on the sidelines in singapore. trace? >> benjamin hall live for us. another big story today is the economy. the unemployment rate. it's the lowest it has been in 50 years. the dow is reacting. we'll have details from today's big jobs report coming up on a
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breaking news edition of "shepard smith reporting." how much money do you think you'll need in retirement? then we found out how many years that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement.
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>> trace: the unemployment rate the lowest in two decades. employers added 223,000 jobs helping drive down unemployment to 3.8%. the lowest since april 2000. the last time it was lower, america was celebrating a moon landing in 1969. employers are hearing a broader group of workers. the unemployment rate for americans over the age of 25 that do not have high school diplomas dropped to 5.4%. it was more than 6% a year ago. economists say that means our economy expansion now in its ninth year is finally reaching more americans.
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but what about your paychecks? average hourly pay up 8 cents hitting $26.92. wages for nonmanagers growing faster than manager's pay. this suggested that the fed will almost raise rates later this month. the fox business network's adam shapiro is live in new york. the dow is up on this news what are investors saying about this jobs report? >> investors are happy, trace. as you pointed out, wage growth indicates full employment with 3.8% unemployment rate, but the wage growth number. if you dive deep into it, nonsupervisory wages, 80% of the work force. all the people without a boss. we're growing year over year wages 2%. the fastest in several years. one problem is that in 2000, when unemployments 3.8%, it was 3.9%. investors say all of views more money in our pockets but there's
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not enough money on inflation to have the federal reserve to get aggressive ant raising interest rates. more money in our pockets, more wages up but not so much that the federal would have to crack down on inflation. >> trace: what are the jobs getting adding? >> construction up 18,000. retail 13,000. mining was up 6,000. that was mostly supervisory as well. support activity from mining. bottom line, there's jobs out there to be had. >> trace: adam shapiro, good to see you. i'm trace gallagher in for shepard smith. the dow is up 201 points and the big news of the day is that the junior 12 summit with north korea is a go. we have team's traveling there, teams going now to lay the ground work. it's a big, big event.
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the letter that was delivered to president trump has not yet been read. i'm trace gallagher. "your world" with neil cavuto is next. have a great weekend. liberty mutual saved us
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for a free quote today. you could save $782 when liberty stands with you. liberty mutual insurance. >> we're going to be june 12, we'll be in singapore. it will be a beginning. i have never said it happens in one meeting. we're talking about years of hostility. years of problems. years of hatred between so many different nations. i think you're going to have a very positive result in the end. >> well, it is on in the end. i'm neil cavuto. this is "your world." a week ago this looked dicey if not doubtful, if not impossible. right now, back on june 12 in singapore. hopefully news organizations didn't cancel hotel reservations because they're going to be impossible to get back right now. to kevin corke at the white house with the very latest on what happened today in the