Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kingtonia with Leslie Picker here post-9 of the New York Stock Exchange. Sarah Eisen is on assignment today. Boeing has the green light to ramp up production of its 737 max. Today we're going to talk exclusively with CEO Kelly Orkberg about what he's doing

to make sure quality is maintained. Plus shares of Lulu Lemon under pressure the company cutting

its outlook as Headwind's mount will discuss what it means for the broader retail sector.

And the upcoming record setting SpaceX IPO expected to mint at least four new billionaires. We will tell you who they are.

Meantime, a little softness in the market today as the jobs number comes in strong. Yields go

up as a result. Markets under a little pressure. Also, the NASDAQ down almost one and three

quarters percent as some of that weakness in semis today continues of course next week though is

going to be all be about us the space x IPO cpi tim cook's final w wdc so there are a lot of

catalysts in june still on the way absolutely uh yeah summer is here but the news flow is still

is still flowing we'll start off the hour with that blowout May Jobs Report,

which our next guest says could be a sign of a new and highly favorable trend emerging for the labor market.

Let's bring in Jared Bernstein, chair of the Council of Economic Advisors under the Biden administration.

Jared, what do you mean by trend reversal?

What gives you the conviction that this is the beginning of a big upturn here?

Well, if is the right way to phrase this, I always like to say one month does not a new trend make.

But now we have three months of job gains, 214 back in December, I'm sorry, back in March,

2179 in April and 172 in May. That's three months in a row of uniquely strong job gains.

Now here's the caveat. If you go back to the prior three months, the average of those three months in terms of

payroll gains was just about zero.

In fact, it was negative 4K.

So we have, there's the chart right there.

So we have a really very different trend.

...