Posted on 02/10/2020 9:57:46 AM PST by SeekAndFind
There have been many spectacular jobs reports over the past three years, but the January 2020 jobs report is really quite exceptional. It’s one of the most encouraging jobs reports I’ve seen in some time.
The topline figures are plenty impressive on their own. The country added 225,000 new jobs in the first month of 2020, blowing away economists’ projections, which called for a mere 164,000 new jobs.
Wage growth also remained strong, at 3.1 percent, which is particularly impactful in light of the low, stable inflation that we’re currently enjoying. Pay raises aren’t just offsetting increases in the cost of living; they’re allowing workers to materially improve their quality of life. Wages for non-supervisory employees are also continuing to rise faster (3.3 percent) than those of their managers (2.5 percent), continuing the blue-collar wage boom, reducing income inequality and proving that companies are genuinely committed to investing in their workforces.
None of that is particularly unusual or surprising these days, of course. The Trump economy has been putting up these sorts of numbers for quite some time now. Last month was a little better than average, but not by an extraordinary degree.
One anomaly that did stand out, though, was the unemployment rate. While it continues to hover near a 50-year low, the jobless rate actually ticked up a smidgeon to 3.6 percent, despite robust job creation in January. The U.S. economy typically only needs to add about 150,000 jobs per month to offset population growth and keep the unemployment rate stable, so this is not what one would normally expect to see.
(Excerpt) Read more at foxnews.com ...
The metric just hit its highest level since 2013 (62.4 percent), most likely because rising wages and an abundance of job opportunities are enticing more Americans to enter the workforce.
Economists have long been concerned about this country’s stubbornly low labor force participation rate, which plummeted during the Great Recession and continued to decline steadily throughout the tepid Obama-era “recovery.” After reaching a low of 62.4 percent in 2015, labor participation is now at 63.4 percent, which translates into millions of additional workers.
The bulk of that rebound has taken place under President Trump and has noticeably accelerated in recent months. It is among the most positive aspects of the strong and growing Trump economy.
My plan: Eliminate all welfare. The labor force will grow exponentially and fill those jobs.
“Welll... what’s he gonna do? Wave a magic wand?”
it’s amazing what happens when you quit trying to replace Americans with cheap foreign labor both legal and illegal.
There’s a reason why the Democrats are afraid they’re going to hang due to President Trump’s election. Soon even the stupidest moron in America is going to understand the evil trick that was played upon them by this colonization effort.
If congress had any brains, they would begin phasing it out like Chile did back in the 1970s by reducing it by 3% per year starting at age 59 and working back and gradually replacing it with private insurance.
No magic wand. He just took the government’s foot off the air hose of the economy.
The labor force will grow with people who have no skills and have never worked a real job a day in their lives, who come from families whose siblings, parents, grand-parents, and other relatives have no skills and have never worked a real job in their lives.
The “unemployment rate” actually measures the percentage of the persons AVAILABLE to be employed, compared to the number that are employed. The apparent anomaly lies in that discouraged workers are now surging back actively seeking work, making a larger pool of those between jobs, making a fractionally higher number, even as the actual number continues to increase.
The economic pie is growing in size. AND THAT IS A GOOD THING.
That’s a terrible headline. The left framed all the bad economic news for Obama this way, spinning how very slow GDP growth was actually better for us.
I’m not saying this story is false, but I hated it when the left spun bad economics as good, and I cringe at the right seemingly do it here.
Well, we either take them from our own population, or we ship them in from other countries and keep our capable on welfare.
Sooner or later, the more ambitious will develop some type of marketable skill. The others can remain at King Burger or 7-11.
Some Hispanics by me went to beauty school and now work at Great Clips. They can knock out 3 -5 haircuts an hour. I don't know what they get paid, but I know what I tip. Multiply that alone by 3,4,5 and it's better than what McDs pays.
McDs, a person can start off being their first job and being motivated can become an assistant manager. McDs will even help them with an education.
Lots of opportunity for someone just starting out, at any age.
The Democrats are practicing colonization even as they claim colonization has been a great evils. They are huge hypocrites.
Simple.
It had to bottom out.
Voo-Doo Economics!(/S)
Well, the problem is way the unemployment rate is manipulated by the politicians, which is why inter-country comparisons are quite useless. Every country has their own way to count and some countries are more or less manipulative than the USA. This has been going on for decades.
So you then end up with weird situations like use seeing the number tick up even though the internals are solid.
I believe shadow stats shows very minimal growth in the employment rate under Obama when adjusted by their methodology.
Yes, but it will continue to be stubbornly low across all developed nations. There is really no fixing that in a major way since it is a function of a very low birth rate. American’s population growth was only 0.50 percent over 2018 with of course the ageing portion of the population only growing.
FWIW, Canada, I must grudgingly admit also had a great number in January. I loathe Trudeau but the internals saw most of the growth in the manufacturing sector, and virtually none of the growth, surprisingly, was in the public sector.
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