February etches another great month for job growth and wages in the Trump economy. The Nation’s unemployment rate dipped back down to a historically low 3.5% while wages grew three percent.
Related: Even Democrats are optimistic about the Trump Economy!
This was far more than economists had predicted. Leading the gains were new jobs in health care and social assistance, food services and government, where 7,000 people were hired for the April Census.
America’s recovering manufacturing sector showed more signs of life, posting 15,000 new jobs. This is noteworthy given the continued issues with the production of the 737 Max jet from Boeing (BA) — America’s largest manufacturer — which is hurting the plane maker’s suppliers.
January’s reported addition of 225,000 jobs was increased to 273,000. And while unemployment rose to 3.6% in January due to an increase in people looking for work, the drop to 3.5% suggests they found it. All important details as the expected coronavirus economic slowdown looms.
Human creatures will choose to do fewer things out in public, justified or not, and with large chunks of the world locking down to try and limit exposure, the global economy will take some kind of hit. We’ll get a sense of what that looks like in the US in early April when the March numbers are released. But we could hardly ask for a better place to be to weather that sort of interruption.
“If the virus does start to significantly impact the economy, the effect on jobless claims should begin to surface in March, with a greater impact in April,” said Bob Baur, chief economist at Principal Global Investors.
And the cure for that is what Democrats? Mandate higher wages and raise taxes on job creators! That’s their answer to everything. And they swear that this time it will actually work. It won’t.
But then they insisted that Trump’s approach would cost us jobs and wages and create trade wars and cats would be identifying as dogs and total chaos.
They are still hoping for total chaos. It hasn’t worked out well for them yet.
| CNN
