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Job Growth Slows to 130,000 in August, But It’s Hardly a Disaster

CNN and MSNBC will be talking all day, when they take a break from discussing Trump’s Alabama hurricane forecast, about how the new jobs report is a catastrophe and shows a weakening economy and the China trade war is terrible and Trump now may not get reelected, and so on.

Well, the economy added 130,000 jobs. That’s not a fantastic number, and it’s far less than predicted by a private forecast, and it’s below expectations.

But it’s not too bad either, especially considering we’re in a trade war with China and the press spends all day talking down the economy. Meantime, wages continue climbing and unemployment remains unchanged.

From the Wall Street Journal, which offers a more balanced assessment than you will see elsewhere:

Employers added to payrolls at a steady pace and unemployment stayed historically low in August, suggesting the U.S. economy held firm during a month when a deepening global slowdown and faltering manufacturing activity stoked fears of a sharp U.S. slowdown.

The U.S. economy added 130,000 payrolls in August, the Labor Department reported Friday. The unemployment rate was unchanged at 3.7% for the third consecutive month, remaining near its 50-year low.

Average hourly earnings climbed a seasonally adjusted 3.2% from August 2018, down from a recent peak of 3.4% in February and offering few signs of a breakout.

Overall, the job market was on slightly weaker footing than expected. Payrolls in June and July were revised down by a combined 20,000, while economists surveyed by The Wall Street Journal had estimated that employers added 150,000 jobs in August. The unemployment rate was in line with forecasts at 3.7% last month.

For the three months ended in August, average monthly payroll growth was 156,000, down from an average 190,000 a month in the eight years since jobs started growing after the last recession.

Biggest Jump in Wages Since 2009

Barack Obama and his White House used to brag about the modest employment gains that occurred after he finally started dragging us out of the recession.

But Obama was creating what Democrats used to derisively refer to as “McJobs,” low paying and part-time employment that kept the country miserable as the economy expanded at a glacially slow pace.

Now we have an economy growing at greater than 3 percent, and not only are jobs being created, but wages are finally rising significantly.

According to the Wall Street Journal, whose reporting is generally unbiased for an MSM newspaper:

U.S. nonfarm payrolls increased a seasonally adjusted 250,000 in October, the Labor Department said Friday. The unemployment rate held steady at 3.7 percent, matching the lowest rate since December 1969. Wages increased 3.1 percent from a year earlier, the best year-over-year gain for average hourly earnings since 2009.

Economists surveyed by The Wall Street Journal had expected 188,000 new jobs in October and a 3.7 percent unemployment rate.

Average hourly earnings for all private-sector workers increased 5 cents last month to $27.30. October marked the first time since the recession ended more than nine years ago that the closely watched pay gauge rose better than 3% from a year earlier.

During the downturn, wages were growing because employers were letting go of less-experienced, lower-paid workers, leaving higher-earning workers on payrolls.

Now the opposite is occurring. With relatively few unemployed Americans looking for work, employers are increasingly having to bid up wages to poach workers from other employers. That has been happening for several years for higher-skilled workers such as engineers and welders, but now it is occurring for relatively lower-skilled jobs such as warehouse workers and home-care aides.

Also of note: The manufacturing sector, left for dead by globalists in both the Republican and Democratic party – and no, I don’t mean Jews, for God’s sake – was one of the biggest gainers, adding 32,000 jobs, with particular strength in durable goods. The labor participation rate, which fell to historic lows under Obama and helped keep his unemployment rate low, rose 0.2 percent, a good sign.

You didn’t have to tune into Fox this time to hear some good news.

Unemployment Rate Drops to 3.7 Percent

In collatch, they learned me that “full employment” was about 4.5 percent. But they didn’t know about Trump full employment, which is at 3.7 percent or lower.

That’s what the rate was in September. I know – let’s impeach him. That will get the unemployment rate back up!

From the Wall Street Journal:

The unemployment rate fell to 3.7% from 3.9% in August, the lowest rate since December 1969, the Labor Department said Friday.

U.S. nonfarm payrolls rose a seasonally adjusted 134,000 in September, the smallest gain in a year and a possible sign employers are starting to struggle to fill jobs. Wages increased last month and advanced 2.8% from a year earlier.

Economists surveyed by the Wall Street Journal had expected 180,000 new jobs and a 3.8% unemployment rate.

The Labor Department said it’s possible that employment in some industries was affected by Hurricane Florence, which struck the Carolinas last month. But the department couldn’t quantify the impact. It said response rates to September surveys were within normal ranges.

Revised figures show employers added 270,000 jobs in August and 165,000 in July, a net upward revision of 87,000. Through the first nine months of the year, employers added an average of 211,000 workers to payrolls each month, well outpacing 2017’s average monthly growth of 182,000.

Let me respond to Barack Obama’s claim that this is all on him: YOU DIDN’T BUILD THAT.

Nevertheless, the workforce participation rate remains much too low, in part accounting for today’s unemployment rate.

Last month, 150,000 Americans entered the labor force, keeping the share of American adults working or looking for work steady at 62.7%.

While unemployment is historically low, the labor-force participation rate is just above multidecade lows. The rate is up slightly from a recent low of 62.3% in 2015, but still near the smallest share of adults participating since the late 1970s, a time when women were still entering the workforce in greater numbers.

Job Openings Hit a Record High in April

The number of job openings in the country reached 6.7 million in April, a record for the 18 years the Department of Labor has been keeping score.

That’s an increase from appoximately 5.46 million openings when President Trump took office.

Many of the current openings are in the supposedly moribund manufacturing sector, which Trump had pledged to revive.

According to MarketWatch:

There were more openings for durable-goods manufacturing and information sector jobs, but decreases in finance and insurance. The quits rate stayed at 2.3%, matching a post-recession high. Economists say the quits rate is an important measure of labor-market confidence, as it shows a willingness for workers to leave for what are presumed to be better-paying jobs.

The MSM checked with Special Counsel Robert Mueller for comment, but there was no response.

Trump Keeps Promise as Manufacturing Jobs Soar

They said it couldn’t be done. They said we don’t make things in America anymore, because the Chinese will do it at slave labor rates.

I mean, you don’t want your iPhone to cost more than $1,000, do you? Make ’em work!

People said we’d have to move into hi-tech “sunrise” industries that would require everyone to get a college education – and of course, the government to pay for it. And we would be more centered on services. We could all just become attorneys!

But manufacturing jobs under President Trump are growing, by a lot, after declining under Barack Obama. Just maybe the theory that if you pay workers enough and combat unfair trade practices, we can bring back manufacturing in this country.

It was one of Trump’s key promises during the campaign, and it is being kept.

The economy added 18,000 jobs in the manufacturing sector in May, according to the latest jobs report from the Department of Labor, released Friday. Since January 2017, when Trump took office, 304,000 manufacturing positions have been created – a small city’s worth of jobs.

Now where is all the reporting and TV news about that? Buried beneath Robert Mueller’s Russia, etc. investigation, that’s where. Most national reporters live in Washington or New York and don’t know any factory workers and don’t think about them. They don’t give a crap about manufacturing unless it has to do with manufacturing their lattes.

Here’s the rest of today’s employment news, which I’ve assembled – um, manufactured – from dispatches from the Wall Street Journal:

The unemployment rate unexpectedly fell to 3.8% in May, matching April 2000 as the lowest reading since 1969. The U.S. added 223,000 new jobs in May, beating economist expectations of 190,000. Average hourly earnings rose by 8 cents to $26.92 in May. From a year ago, wages were up 2.7%–better than the 2.6% growth economists had forecast. The May jobs report brought another curious decline in the share of Americans working or looking for a job, with the labor force participation rate edging down to 62.7% from 62.8% in April.

Meantime, Trump is being accused of revealing the report with a tweet suggesting it might be positive.

From the Wall Street Journal:

President Trump’s tweet ahead of the jobs report caught some bond traders off guard and sparked conversation across trading floors. It was “something that I haven’t seen before, at least in my career, from the President,” said Michael Lorizio, a bond trader at Manulife Asset Management. Treasury yields rose after the tweet and ahead of the jobs report. The yield on the 10-year note was recently up 0.09 percentage point at 2.91%.

Meantime, black unemployment fell to the lowest point ever, dropping from the previous record low of 6.6 percent to 5.9 percent. Not bad for a white supremacist president, is it?

Manufacturing Strong as Unemployment Rate Falls to 3.9 Percent

The unemployment rate fell to 3.9 percent in April, a drop of two-tenths of a percent and the lowest level since 2000, the Labor Department reported Friday morning.

Among the jobs added were 24,000 by manufacturers, a level consistent with previous months – and also consistent with President Trump’s pledge to his voter base to bring back the beleaguered sector. The economy had generated 245,000 manufacturing jobs during the last year, and the latest increase comes even amid all the handwringing about Trump’s threat to impose tariffs on various trading partners, including big-time cheaters like China.

The 164,000 total jobs created was fine but below expectations of around 200,000. And part of the reason the unemployment rate dipped is that the labor force participation rate declined for the second month, to 62.8 percent, near the lowest levels in 40 years. It’s an Obama-era problem Trump has not been able to fix.

Jobless Claims at Lowest Rate in 45 Years

You won’t be hearing much about this in the mainstream media. You will be hearing a lot about Stormy Daniels.

From the Washington Examiner:

The past two weeks’ very low readings drove the monthly average for claims down to 221,500. That’s the lowest since early 1973.

Then, during Richard Nixon’s presidency, the labor force was about half the size it is today.

Low new claims mean that few people are getting laid off, and consequently that net job creation is high.

Also, the total number of people claiming unemployment benefits dropped to generational lows in April. Altogether, 1.76 million people received benefits during the third week of the month, the lowest such mark in 44 years.

Economy Added 313,000 Jobs in February

Well, I guess the MSM will have to report on this, and then it’s back to “Chaos in the White House” and “Mueller focuses on chance encounter at vending machine.”

Note below in this report from the Wall Street Journal – which I don’t count as traditional, reflexibly anti-Trump MSM – that Americans are reentering the workforce, something we often didn’t see during the Obama years:

U.S. employers hired workers at the strongest pace in a year and a half, the unemployment rate held at a 17-year low in February, but the pace of wage growth eased.

Nonfarm payrolls rose a seasonally adjusted 313,000 last month, the Labor Department said Friday. It was the strongest monthly gain since July 2016. The unemployment rate, 4.1%, held at the lowest level since December 2000 for the fifth straight month.

Economists surveyed by The Wall Street Journal had expected 205,000 new jobs and a 4.0% unemployment rate.

Construction firms added 61,000 workers, the biggest increase in nearly 11 years for the sector. Hiring also picked up at retailers, manufacturers and local governments, including schools. All levels of government added 26,000 workers, also the best gain since July 2016.

Better hiring was supported by Americans entering the workforce in larger numbers. The share of Americans participating in the labor force rose by 0.3 percentage point to 63.0% in February.

CNN Admits Trump Tax Cut Helped the Economy

Well this is a nice turn of events. First of all, the economy. Employers added 200,000 jobs last month, a strong number. But even better news was the rise in incomes, which has mostly stagnated under President Obama. And even more surprising news: CNN thinks Trump is partially responsible for it. According to CNN’s Alison… Continue Reading

Economy Generated 222,000 Jobs in June

That’s great, but honestly, not that much different from what we were seeing under Barack Obama. There were some positive signs, though they aren’t much. The labor force participation rate, at historic lows, moved up a bit and wage gains were modest, though they felt better due to decreasing inflation. From the Wall Street Journal:… Continue Reading

Economy Generates More than 200,000 Jobs in April

The economy added 211,000 jobs in April and the unemployment came down a tenth of a point to 4.4 percent, its lowest level since May 2007, according to the latest Labor Department report. Nevertheless, the labor force participation rate remains at historic lows, actually falling a tenth of a point to 62.9 percent. The job… Continue Reading

Trump to Pump Life Back Into “Buy American” Initiatives

From the Wall Street Journal: President Donald Trump will sign an executive order in Wisconsin on Tuesday directing a government-wide review aimed at putting new teeth back into decades-old “Buy American” and “Hire American” directives. The 220-day review process, which could lead to additional executive orders and possibly legislation, will focus on preventing foreign workers… Continue Reading