Monday, 20 Jan 2020

Trump’s Economy Booms

We Ran Out of Words to Describe How Good the Jobs Numbers Are

Donald Trump is the man of his word, the economy is booming and even liberals are having to admit the truth.

New York Times Columnist Neil Irwin wrote “We ran out of words to describe how good the jobs numbers are, I needed a thesaurus to come up with enough ways to describe today’s very good jobs numbers.”

neil irwin

The American economy roared into overdrive last month, the Labor Department reported Friday, extending the longest streak of job growth on record.

Employers added 223,000 jobs, way up from the expected 188,000. There were also other strong indicators that the nation’s economy is on the upswing, reflecting healthy gains in a broad range of industries, from manufacturing and transportation to health care and retailing.

cnn jobs

The unemployment rate fell to 3.8 percent, its lowest level since the dot-com boom in early 2000, a new 18-year low. At the current trend the unemployment rate could sink as low as 3 percent by the end of 2019, which would be the lowest unemployment since 1953, which was at the height of the economic boom after World War II.

unemp chart

Black and Hispanic unemployment, plummeted to record lows. The jobless rate for African-Americans fell to 5.9 percent, the lowest on record since the Labor Department began breaking out unemployment by race in 1972.

The unemployment rate for college graduates is 2 percent, while workers with only a high school diploma stands at 3.9 percent.

Average hourly pay rose 0.3 percent to 2.7 percent from a year ago.

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