In what has resulted in being an unprecedented recovery for the United States job market in history. It’s now being reported the US unemployment rate has officially fallen to a 10 year low of 4.4% during the month of April. Last time we saw numbers this low was in 2007 before President Obama and his party took over all branches of government.
This is a huge and undeniable accomplishment for or new President Donald J. Trump which so many people thought wasn’t going to work out because he wasn’t of the “establishment elite” of neither party, who caused this mess to begin with by enacting idiot regulations and burdens on our economy in the name of the fake science called “Global Warning.”
The Washington Examiner Reports:
Job growth kicked back into gear in April, the Bureau of Labor Statistics reported Friday, as the economy added 211,000 new jobs and the unemployment rate ticked down to 4.4 percent, the lowest such rate since May of 2007.
The growth in payrolls easily beat forecasters’ expectations, which were for job creation to recover to around 185,000 after last month’s disappointing 98,000 number, which was revised down to 79,000 on Friday.
Friday’s report indicates that the underlying trend remains strong, likely to provide a boost to President Trump and affirm the Federal Reserve in its plans for raising interest rates and tightening monetary policy this year.
“I think it’s a strong employment number,” said Bryce Doty, senior portfolio manager at Sit Investment Associates, saying that Friday’s report will “cement” the Fed’s decision to raise rates again in June.
Only about 50,000 to 100,000 jobs are needed each month to prevent unemployment from rising. Over the past three months, monthly jobs growth has averaged 174,000, including revisions.
With unemployment already below what Fed officials have estimated represents a fully healthy economy, economists would expect wage growth to accelerate.
The household survey in Friday’s report, however, showed hourly earnings growth slowing from 2.7 percent annually to 2.5 percent. While disappointing, slow wage growth, taken together with continued robust job growth, could be a good sign in that it suggests that there were, even more, workers sidelined by the recession willing to work than the Fed has thought all along, and that the U.S. can create many more jobs without seeing inflation rising above the Fed’s target.”
Friday’s report hinted that there does indeed remain deep labor supply. At 62.9 percent in April, the labor force participation rate has held steady since late 2013, defying the ongoing demographic trends pushing down on labor force participation.
Since the start of the recession, workforce participation has plummeted, reflecting two factors: The retirement of the Baby Boom generation and other demographic changes, and the fact that the downturn forced many people to simply quit the job hunt and fall out of the bureau’s calculation of the unemployed. In the past several years, though, it appears as though the cyclical part of the decline has reversed itself to some extent as better job prospects have enticed more people into the job search, propping up labor force participation.
Other details from Friday’s report represented encouraging news. The broadest measure of underemployment, the “U6” unemployment rate, fell in April to 8.6 percent, a rate not seen since November of 2007, the month before the recession officially began. The U6 rate includes people forced into part-time work and people only sporadically looking for work as well as the unemployed. “When you combine all those together, it’s a pretty impressive number,” said Doty.”
What those of us who were called names and branded as “ignorant” for getting on the “Trump Train” from day one during the Republican Primaries already knew all along has now officially happened. The US economy bounced back with furor under President Trump. It was clearly obvious to all us “Trumpers” that a successful billionaire businessman would be able to pull the economy out of the depression it was in for the last 8 dark years. Where the only people doing well were the rich who weren’t affected by Obamacare and it’s socialistic price hike, fees, and taxes that decimated the middle class by totally taking away the meager disposable income most peons like we have.
It only took President Trump 100 days to register what former President Barack Hussein Obama wasn’t able to muster in his whole 8 long years of being president. Of course, Liberal scumbags will start saying their Messiah was the reason the economy has taken such an upturn. Of course like good wannabe Marxists they will probably go on to blame his predecessor President George W. Bush for the reason their messiah wasn’t able to reach this goal.
Make America Great Again… One job at a time!