July 7, 2017
But wait just a cotton-pickin minute here.
I thought Trump had abandoned all of his promises…?
But fixing the economy was one of his promises, and…
The Labor Department released the June hiring and unemployment figures on Friday morning. This is the latest official snapshot of the state of the American economy.
• 222,000 jobs were added last month. Wall Street economists had expected employment gains of 175,000.
• The unemployment rate was 4.4 percent. May’s jobless rate was 4.3 percent.
• The average hourly wage grew by 2.5 percent from a year earlier.
• The labor-force participation rate inched up to 62.8 percent, from 62.7 percent.
The labor market roared back in June, with a hefty monthly gain in jobs, and revisions added 47,000 more jobs to April and May than previously reported. Over the past three months, job gains have averaged 194,000 a month. Although the unemployment rate ticked up from the previous month, it did so because more people joined the work force.
“The payroll number is well above expectations,” said Jim O’Sullivan, chief United States economist for High Frequency Economics. “But the wage numbers are certainly weaker than expected, so it keeps alive the whole debate about the relationship between slack and inflation and how far the Federal Reserve should allow the unemployment rate to fall.”
A broader measure of unemployment, including discouraged workers and those who are working part time but prefer full-time work, inched up to 8.6 percent in June from 8.4 percent in May. Still, that figure is a point lower than it was this time last year.
“It’s pretty clear that the trend in employment growth is strong enough to keep the unemployment rate trending down,” Mr. O’Sullivan said.
Diane Swonk, founder of DS Economics in Chicago, said the increase in professional jobs reflected hiring of new graduates. “Finally the millennials are getting more jobs,” she said.
Hiring in the service sector was also strong. The retail, manufacturing and construction sectors were weak, Ms. Swonk added, but the “economy looks strong enough to absorb these workers elsewhere.”
The economy is one of the places Trump was not being quite as strangled.
And it is the area where he has made the most progress. Incredible progress, really.
Along with jobs exploding, the stock market is doing better than it has at any point in history.
Trump has now freed himself to fix the Russia situation. He has also gotten through a version of the Moslem ban.
He just told the President of Mexico he’s paying for the wall.
This is all happening.
What I see is that the media is lying to Trump supporters just as much as they are lying to the leftists. They are claiming he somehow “isn’t doing anything.”
He actually is doing something. A lot of somethings.