The American economy gained a brisk 254,000 jobs last month. We need 90,000 new jobs just to keep up with population growth, which means that net job growth clocked in at 164,000 jobs. The headline unemployment rate dropped yet again to 4.1%.
Weekly earnings were up a meager 0.9%. Adjusted for inflation that's about -1.5%.
Good news! Damned good news!
Not that most Trump supporters will hear this good news, of course, or that the few who do hear will believe the numbers.
But, to the rest of us, this is damned good news for our economy.
Yes...so the stock market will drop and the Fed will raise rates.
/no, not really snark....
Yes, damned good news. Now will Harris and other Democrats trumpet this in their ads? Didn't someone once say, "it's the economy, stupid"?
This could be the trigger for the Democratic version of an "October surprise". It's going to depend on Democratic candidates to get this message out with sufficient emphasis and repetition. No one else will do it for them.
I fail to see any reason why they should not do this. They are playing a very dangerous game if they don't.
But a dozen eggs cost me $42 and my left arm yesterday.
It would have just been your right arm, but that was used to get gas for the car to get to the store!. No worries, you can shift with your teeth and steer with your legs.
(merely a flesh wound)
So, this is kind of an arbitrary yet telling data point.
Biden's economy has never created less than 100K jobs in any month. In fact, Joe Biden is the only President who has had a 4-year period without a month where there were less than 100K jobs created since WWII (as back as data goes). Anything can happen between now and the end of his presidency, but it still comes out ahead of Trump's. You see...
Excluding the COVID shutdown (Mar, Apr 2020), during Trump's administration there were 9 months where there were 100K or fewer jobs created.
Anyone who thinks Trump's economy was better than Biden's is an idiot. Biden's economy has been the only one with reliably positive job growth.
"Anyone who thinks Trump's economy was better than Biden's is an idiot"
Unfortunately, lots of idiots out there. Hopefully not enough of them in the swing states to give Il Duce the election. Good that the east coast long shoremen strike is over.
Is it? That is great news.
If Trump wins, and I hope to dog he doesn't, he'll declare he single-handedly turned our "bad" economy into a great one. Just like he did when he inherited a growing economy from Obama. The guy is a shameless liar. The only person worse than him is his running mate.
Kevin is fond of his net new jobs metric. By that measure there have been sub-100k months. Eg https://jabberwocking.com/chart-of-the-day-net-new-jobs-through-october/
🤔
Which of course means that Biden is the only President since WWII who has created jobs every single month of his 4-year administration, according to KD!
😁
Cue all the talking heads saying why this is bad news for Democrats.
The latest is the MSM informing us how bad it is that Mr. Walz has said some things in the past that aren't true, but blithely disregards Trumps daily if not hourly output of lies.
When will the revisions come out?
4 years of Trump shit-talking our economy, trumpeted by Fox and the other "not-in-good-faith" media... this takes a toll.
Liberal media don't want to be seen as partisan so they don't help.
Our electorates is poorly served.
4 years of Trump shit-talking our economy, trumpeted by Fox and the other "not-in-good-faith" media... this takes a toll.
Liberal media don't want to be seen as partisan so they don't help.
Our electorate is poorly served.