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00:00DAVID: THIS IS "BALANCE OF POWER" ON BLOOMBERG TELEVISION AND RADIO. I'M DAVID WESTIN. IT HAS BEEN A REMARKABLE WEEK MARKED BY CIVIL UNREST IN THE COUNTRY IN RESPONSE TO THE TRAGIC KILLING A GEORGE FLOYD, ALSO ATTEMPT TO REOPEN THE ECONOMY, AND WE HAD THESE REMARKABLE JOB NUMBERS TODAY. WE ARE FORTUNATE TO HAVE RICHARD TRUMKA WITH US. THE AFL-CIO REPRESENTS MORE THAN 12 MILLION MEN IN WOMEN ACROSS -- AND WOMEN ACROSS THE COUNTRY. YOU WERE IN THE CENTER OF THOSE DEMONSTRATIONS IN LAFAYETTE PARK. FOR PEOPLE THAT DON'T KNOW THE GEOGRAPHY OF WASHINGTON, YOUR HEADQUARTERS ARE RIGHT ON THAT BLOCK. AS I UNDERSTAND, THERE WAS DAMAGE DONE. WHO WAS RESPONSIBLE, WHAT HAPPENED? RICHARD: THERE WAS SOME DAMAGE, THEY WERE NOT PEACEFUL PROTESTERS, PEOPLE TRY TO TAKE ADVANTAGE OF THE SITUATION TO CREATE CHAOS. IT JUST PROVES ONE THING. THE AFL-CIO IS NOT A BUILDING, WE ARE A GROUP OF LIVING PEOPLE THAT HAVE ARMS LOCKED TOGETHER TO BRING SOCIAL JUSTICE BACK TO AMERICA. DAVID: LET'S TALK ABOUT SOCIAL JUSTICE. EVERY INSTITUTION IS CONFRONTING THIS RIGHT NOW IN THE WAKE OF THE GEORGE FLOYD KILLING. HOW IS IT AFFECTING YOUR MEMBERS, YOUR OPERATIONS, HOW DO YOU DEAL WITH THE QUESTION OF INHERENT RACISM IN OUR SYSTEM? RICHARD: I THINK IT AFFECT EVERY AMERICAN OUT THERE, REGARDLESS OF YOUR COLOR, SEX, RACE, ANYTHING ELSE. WHAT WE ARE TRYING TO DO IS FOCUS ON THREE THINGS. WE HAVE THREE CRISES GOING ON SIMULTANEOUSLY. WE HAVE THE HEALTH CRISIS, THE ECONOMIC FREEFALL, AND THEN THE CRISIS OF STRUCTURAL DISCRIMINATION. WE ARE TRYING TO DO ALL OF THOSE TOGETHER. WE HAVE AN EMERGENCY MEETING ON HUMAN RIGHTS AND POLICY TODAY TO TALK ABOUT THAT, AND A COURSE OF ACTION, HOW WE CAN BE BETTER EFFECTIVE AND DO MORE TO REFORM THE CREDIBLE REFORM -- CRIMINAL REFORM MOVEMENT. WE CAN DO MORE TO END RACISM IN THE COUNTRY, IN WHATEVER FORM IT COMES IN. IT IS A LABOR ISSUE FOR US BECAUSE IT IS SO ENDEMIC IN THE WORK IS. WE CONSIDER IT A LABOR ISSUE. WE ARE STRUGGLING LIKE EVERYONE ELSE, BUT WE INTEND TO BE AT THE FOREFRONT OF SOLUTIONS. DAVID: WHAT ABOUT POLICING REFORMS? SPEAKER PELOSI SAYS SHE WANTS A BILL AS EARLY AS MONDAY ON POLICING REFORM. PART OF THE AFL-CIO IS A PART OF THE POLICE UNIONS. TO WHAT EXTENT CAN BE BE A PART OF THE SOLUTION HERE? RICHARD: HERE IS THE WAY WE LOOK AT IT. WE HAVE A NUMBER OF UNIONS WITH POLICE OFFICERS IN THEM. PEOPLE HAVE SAID, WHY DON'T YOU CUT TIES WITH THEM? FIRST AND FOREMOST, WE BELIEVE POLICE OFFICERS AND EVERYONE WHO WORKS FOR A LIVING HAS A RIGHT TO COLLECTIVE BARGAINING. THERE ARE OFFICERS OF EVERY BACKGROUND AND STRIPED IN THOSE UNIONS AND THE VAST MAJORITY ARE COMMITTED TO PROTECTING AND SERVING THEIR COMMUNITIES. SECONDLY, WE BELIEVE EVERYONE WHO BREAKS THE LAW MUST BE HELD ACCOUNTABLE, INCLUDING UNION MEMBERS. WE WILL NEVER JUSTIFY CRIMINAL ACTIVITY. THIRD, COLLECTIVE BARGAINING IS NOT THE ENEMY. THE ENEMY IS A CONGESTED SYSTEM WHERE INTO MANY CASES FAILS THE PERPETRATORS OF POLICE ACCOUNTANTS -- VIOLENCE ACCOUNTABLE. FINALLY, WE HAVE TO ENGAGE WITH OUR POLICE AFFILIATES RATHER THAN ISOLATING THEM. WE ARE COMMITTED TO DOING WHAT IS HARD AND MEETING ALL, INSTEAD OF WHAT IS QUICK AND EASY. DAVID: DO YOU THINK THERE WILL BE POLICE REFORM, EITHER THROUGH LEGISLATION, COLLECTIVE BARGAINING, WILL THINGS CHANGE GOING FORWARD WITH THE WAY THAT WE POLICE OUR POLICE? RICHARD: I ABSOLUTELY THINK THAT BECAUSE WE ARE ALL COMMITTED AND DETERMINED TO MAKE THAT HAPPEN. WE WILL NOT LET THIS OPPORTUNITY TO BE ANOTHER IN A LONG LINE OF INJUSTICES AND DISCRIMINATION TOWARD PEOPLE OF COLOR. I THINK THE KILLING OF GEORGE FLOYD WAS THE ABSOLUTE STRAW THAT BROKE THE CAMEL'S BACK, SO WE ARE DETERMINED, WE ARE JOINING WITH OUR ALLIES, WINS, COMMUNITY GROUPS, TO MAKE SURE THIS IS AN OPPORTUNITY WHERE WE CHANGE THINGS. AS PRESIDENT OBAMA SAYS, IT IS NOT LIKE WE DON'T HAVE THE PLAYBOOK. WE HAVE THE PLAYBOOK TO MAKE THIS HAPPEN, WE JUST HAVE TO MAKE SURE THE PLAYBOOK IS EXECUTED AND FOLLOWED. WE ARE DETERMINED TO JOIN WITH GROUPS LIKE BLACK LIVES MATTER'S, AND OTHER GROUPS, TO MAKE SURE THAT THOSE REFORMS ARE NOT ONLY INSTITUTED BUT LIVE BY, FROM HERE ON OUT. DAVID: THE POLICE MEMBERS THAT ARE MEMBERS OF YOUR UNION, ONLY SOME OF THE STATE AND LOCAL EMPLOYEES YOU REPRESENT. WE ARE HEARING DIFFERENT REPORTS ON THE STIMULUS PACKAGE. NANCY PELOSI WANTS TO GO RIGHT AHEAD. PRESIDENT TRUMP SAYS THERE IS NOT THAT BIG OF A RUSH BUT WE MAY NEED SOMETHING. DID THE JOBS NUMBERS TODAY TAKES SOME STEAM OUT OF GETTING MORE STIMULUS SOON? RICHARD: LET ME RECONCILE THE FIGURES FIRST. IN MAY, WE ADDED 2.5 MILLION JOBS. REMEMBER, IN MARCH AND APRIL, WE LOST 22 MILLION. WE ARE STILL DOWN 19.6 MILLION JOBS. THE OFFICIAL UNEMPLOYMENT RATE IS 13.3%. THAT IS A WELCOME IMPROVEMENT OVER APRIL. BUT ASIDE FROM APRIL, IT IS WORSE THAN ANYTHING WE HAVE SEEN SINCE THE GREAT DEPRESSION. AND THE UNEMPLOYMENT RATE DOES NOT REFLECT ALL CORONAVIRUS-RELATED JOB LOSSES. ONLY TWO THIRDS OF THE PEOPLE WHO REMAIN OUT OF WORK AS A RESULT OF THE VIRUS ARE SHOWING UP UNEMPLOYED. ABOUT 15%, 4.9 MILLION OF THOSE OUT OF WORK BECAUSE OF THE VIRUS, ARE BEING MISCLASSIFIED. THEY HAD BEEN FURLOUGHED, SHOULD HAVE BEEN COUNTED AS UNEMPLOYED OR TEMPORARILY LAID OFF, BUT THEY ARE BEING COUNTED AS EMPLOYED BUT NOT AT WORK. ROUGHLY 6.6 MILLION OF THOSE OUT OF WORK BECAUSE OF THE VIRUS ARE BEING COUNTED AS HAVING DROPPED OUT OF THE LABOR FORCE. THAT IS BECAUSE JOBLESS PEOPLE ONLY GET COUNTED AS UNEMPLOYED IF THEY ARE ACTIVELY SEEKING WORK, WHICH REMAINS IMPOSSIBLE FOR A NUMBER OF THEM. SO IF ALL 32 POINT FINALLY WORKERS WHO WERE OUT OF WORK AS A RESULT OF THE VIRUS ARE SHOWING UP AS UNEMPLOYED, THE UNEMPLOYMENT RATE WOULD HAVE BEEN 19.7% IN MAY, INSTEAD OF 13.3. 19.7% OR 13.3% DEMANDS IMMEDIATE ACTION. IT DOESN'T SAY WAIT. 16.2 MILLION PEOPLE HAVE ALREADY LOST THEIR HEALTH CARE, AND MORE EVERY DAY. THAT HAS TO BE REMEDIED. THE HEROES ACT HAS TO BE PASSED. DAVID: ALL THAT SAID, HOW CONFIDENT ARE DO THAT THE HEROES ACT WILL BE PASSED, AND MORE IMPORTANT LATE, WHEN? RICHARD: THE PRESSURE CONTINUES TO BUILD. IF YOU LOOK AT THE RATE RIGHT NOW, IN KENTUCKY, IN MITCH MCCONNELL'S HOME STATE, YOU

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