-- 172,000 jobs added in May. Uh, were you surprised to see those numbers, sir?
Uh, you know, we have been very optimistic about what the labor market is going to be doing. And so, you know, I guess I was surprised a little bit, but not too much. Uh, the people that really were surprised were ev- -- all the people that were surveyed at Bloomberg. Uh, one of the things I like to do is I just, uh, aggregate with, uh, histograms so I can see the probability distribution of what people think is going to happen to the jobs number.
And the very, very top person had a number of about 120,000 jobs, and so we beat that by 50,000 jobs, the very top person.
What do you --
And I think that, I think that's what's happening is that the supply side, uh, uh, policies of President Trump from deregulation to the Big Beautiful Bill to no tax on overtime, that it's having a big positive supply side effect, and that that's something that keeps surprising Wall Street economists over and over.
And people heading out for the road trips this summer, what should they expect that the gas pump with Hormuz remaining shut down basically?
Yeah, the gas, the gas price, uh, story is a serious one. We understand that people are hurting on that, and we've taken a number of measures to reduce the disruption, and we expect it to be temporary.
[Inaudible]
He is.
And, uh, can you talk about any economic help for farmers? They are struggling with the cost of fertilizer as well as the rising cost of diesel. Is there anything that can be done to help these farmers?
Yeah, and, and, uh, Brooke Rollins is, uh, you know, doing everything she can to help farmers. Uh, you're right that because of the closure of the strait, uh, that, uh, the part of fertilizer that comes from oil, like the ammonia-based things and the sulfur, uh, that those things are seeing skyrocketing prices.
But our expectation is that once, uh, that we, we have a deal, uh, then that's something that can be fixed relatively quickly, uh, and we map this very, very carefully. And the way to think about it is that the tankers, uh, leaving the straits and we're getting them out of the straits now a little bit with, with help from the Navy, uh, they, they go about 300 nautical miles a day.
And so we've got a problem in Singapore and in India, uh, where, uh, refineries are sort of more or less shut down 'cause they couldn't get the oil. That's making jet fuel prices and diesel prices especially high. That's making US refiners, uh, increase more, uh, their jet production and their diesel production, which is also putting stress on normal gasoline prices.
Our expectation is relatively quickly once we start to get those two, uh, two million b- -- those two million barrel, uh, ships running through the straits that this is something that could be repaired relatively quickly.
Has China started buying American farmers products? What's the status right now?
Um, I'd, I'd have to get an update on that.
[Inaudible] any additional status on the half of the year?
Uh, could you say it again, sir?
Any additional status on the second half of the year?
Uh, there's stuff that's being negotiated right now. I have nothing to add.
What do you think you -- what, what do you think would be the impact of this data on the global economy? They always look at America.
Well, I think that what we're seeing right now is a revival of the world where the US is the engine of global growth. And I'll be flying with the president to the G7 meetings, uh, in France in a couple of weeks, and that's going to be one of our key messages is that if you look at the things that we're doing, we're getting jobs numbers and surprise on the upside over and over again, you should copy those things because we want, (laughs) we want you to be as prosperous as we are.
But I think what you're seeing is that when, when the US booms, it's great for the global economy. I have time for one more question, so go ahead-
[Inaudible] criticism of terrorists has kind of died down in the, uh, news cycle. Do you still see it as a long-term policy for this administration?
If, if you look at the massive increase in investment and onshoring in the US, uh, part of it is because we became a low tax rate. Part of it is because we made labor costs lower, uh, by having no taxes on overtime, no taxes on tips and so on. But part of it is clearly because the tariffs are encouraging people to onshore production.
The president's been right about that for 30, 40 years, and it's clearly in the data that's happening right now. Thank you guys so much.
[Inaudible] talking finance throughout.