U.S. Added 164,000 Jobs in July

Breitbart ^ | 08/02/2019 | John Carney

[ChicagoConservative27]

The U.S. economy added 164,000 jobs in July and unemployment held steady at 3.7 percent.

Economists surveyed by Econoday had forecast a gain of 151,000 for July and for unemployment to decline slightly to 3.6 percent.

While the economy has continued to grow this summer, it has shown signs of slowing from the rapid 3.1 percent rate of growth in the first three months of the year. Manufacturing has been a weak spot while consumer spending and the labor market have been strong. Economic growth slowed to a 2.1 percent rate in the April through June period.

[babble-on]

Expectedly

[PGalt]

Good news. Thanks for posting.

[Sam Gamgee]

I have to confess I am disappointed and confused why the USA can’t hit 4 to 5% growth. The corporate tax cuts should have done that.

[TwelveOfTwenty]

Probably because a lot of what we buy is still foreign made. We have a lot of manufacturing to bring back before we’ll hit those numbers.

[Sam Gamgee]

Many “experts” think it can’t be done, but I recall in America’s formative years it had HIGHER salaries than Europe and still thrived, so why not again?

[NELSON111]

>>>I have to confess I am disappointed and confused why the USA can’t hit 4 to 5% growth. The corporate tax cuts should have done that.

Well - I've tried to explain this to some FReepers - but they weren't willing to listen. The answer is actually very simple and easy to research.

The corporate tax cuts have mostly been spent by the big guys (think Forbes 500) on stock buy-backs. S&P 500 companies gave $1 trillion last year of their tax cuts back to investors in the form of stock buy-backs and dividends to investors.

You want to know why the market is so high? It's easy to do when corporations are spending record amounts buying their own stock.

[Sam Gamgee]

Yeah, but does it make economic sense to buy back shares at the astronomical PE ratios they have? I suppose that is another argument altogether.

But if what you are saying is the case, the tax cuts have not gone where the POTUS intended, into better wages, RD, ect...something that would improve the economy.

[NELSON111]

>>>But if what you are saying is the case, the tax cuts have not gone where the POTUS intended, into better wages, RD, ect...something that would improve the economy.

They haven't gone where he intended an that's for sure and no it doesn't make sense - but that is what they have done. But think about it - who is prospering off of it? The CEOs mostly -

[foreverfree]

Bump