Kevin Hassett: June jobs data is 100% consistent with what we view as a very strong economy

• June jobs data is 100% consistent with a very strong economy, with job growth averaging upwards over the last four months.
• Significant factory building and 'reshoring' efforts are expected to drive future manufacturing job growth, with current construction activity preceding job creation in new facilities.
• Rising wages, linked to increased productivity (potentially from AI), suggest that economic growth does not necessarily lead to inflation, providing the Federal Reserve room to potentially adjust interest rates.

National Economic Council Director Kevin Hassett discusses the June jobs report, asserting that the data is consistent with a very strong economy. He highlights robust factory building and construction as key drivers of future job growth, while Jim Cramer questions the manufacturing numbers and the Fed's rate policy.