Posted on 11/01/2019 6:11:03 AM PDT by God luvs America
Nonfarm payrolls rose by 128,000 in October, exceeding the estimate of 75,000 from economists surveyed by Dow Jones.
Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations.
Even with a decline of 42,000 in the motor vehicles and parts industry, the pace of new jobs well exceeded the estimate of 75,000 from economists surveyed by Dow Jones. The loss of jobs came due to the General Motors strike that has since been settled. That 42,000 job loss itself was less than the 50,000 or more that many economists had been anticipating.
The unemployment rate ticked higher to 3.6%, in line with estimates, but remains around the lowest in 50 years. A more encompassing measure that includes discouraged workers and those holding part-time positions for economic reasons also edged up to 7%.
The unemployment rate for African Americans nudged down to a record low 5.4%. Also, the total employment level as measured in the household survey jumped to 158.5 million, also a new high.
(Excerpt) Read more at cnbc.com ...
Why does anyone care about “economists predictions” any longer? The rare case is when they’re correct.
Unexpected!
*Drink*
More winning!
But...what will the stock market do?
yup. Their ability to correctly predict is about 30%. Weather forecasters and baseball hitter range.
Near-full employment in America. Women and minorities hit hardest.
The predictors pull numbers from their butt.
Predictions are worthless left wing media fodder. No more, no less
Only 70% better than predicted by “experts”.
Trump’s economic policy is so simple that even a 2 year old could have done it: Get government out of the way, so that business can expand and modernize.
The reason that this policy works is because businesses only have a certain amount of money to ‘play’ with, and if they use it to comply with endless new regulations, guess what, they can’t use it to expand and modernize.
What AMAZES me that most economists can’t figure out something this simple. They’re convinced that recessions are simply the ebb and flow of the US economy and thus unavoidable. It’s almost as bad as virtually the entire medical/nutritional community telling diabetics (and others) that it’s fine to eat tons of carbs, as long as they’re ‘healthy carbs’ - as if any carbs are ‘healthy’...LOL.
And FR’s neverblumper trolls.
Waving at you guys. Bet you are just soooooooooo salty right now.
Average hourly earnings, meanwhile, rose by 3 percent over the past year to $28.18.
Payroll growth has accelerated in the last few months even while manufacturing is in recession. We truly have become a service based economy.
The economy doesn’t matter. We must IMPEACH!
IMO, that’s not what’s happening. All the manufacturing CEOs got spooked by the 24/7 recession talk by the business “journalists” over the past 6 months, and have held back on capital spending.
I wonder how the Democrat msm will spin this, if they bother to mention it at all.
Near full employment but many want to bring in Socialism.
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