Trump Effect: 298,000 Jobs. 108,000 Over Estimate

[Meathead]

I there was any doubt. Stay tuned folks:

Job creation posts blowout month in February

Companies added jobs at a blistering pace in February, with a notable shift away from the service-sector positions that have dominated hiring for years, according to a report Wednesday.

Employment in the private sector surged by 298,000 for the month, with goods producers adding 106,000, ADP and Moody's Analytics said. Construction jobs swelled by 66,000 and manufacturing added 32,000.

The total shattered market expectations of 190,000, according to economists surveyed by ADP. The blockbuster report also solidified market expectations for the Fed to hike interest rates next week. Probability for an increase jumped to 91 percent after the release, according to the CME.

 

[mamooth]

Please explain what Trump policies did that. What legislation was passed?

 

[Meathead]

Please explain what Trump policies did that. What legislation was passed?

No problem. Employers hire for future production and services. There is no doubt current and pending reductions of government regulation, the investment returning to the US executive orders pertaining to things like the pipeline have motivated employers to take on more employees.

Note the increase of manufacturing and construction jobs and the move away from burger flippers of the Obama era.

To believe otherwise is deliberately obtuse.

Give it up! You've lost once again.

 

[shockedcanadian]

Indeed, these are pre-emptive business decisions anticipating the changes. From lower tax rates, to the border tariff and rewriting of NAFTA. Businesses realize that shifting investment now will bring faster, deeper returns when everything is fully enacted and in place.

I've said it many times and stand by it, once Trump goes into NAFTA and broader tariffs, you will see many thousands of decent paying jobs come from Canada and even more jobs coming from Mexico. The Canadian government knows this and there is nothing ANY government in Canada of any stripe can do about it if and when America wisens up regarding the abuses coming from other nations.

I don't think these numbers are even reflective of the potential in the future. I also notice, this report hasn't even been touched on at CNN today. They are waiting for negative numbers to report to undermine the tweaking of the system....its not happening, the numbers will continue to outpace expectations. If Trump keeps his promises, these numbers will only improve.

Can America grow at 3+% a year again? If Trump can do that, America and Liberty has some hope.

 

[DrainBamage]

No problem. Employers hire for future production and services. There is no doubt current and pending reductions of government regulation, the investment returning to the US executive orders pertaining to things like the pipeline have motivated employers to take on more employees.

So you're saying construction companies hired a lot of workers, but it is for future construction projects that will come later in the year when Trump policies start affecting actual projects? This is not how the construction industry works, it's hiring cycles are very dynamic falling and rising very quickly when work exists or doesn't exist.

Finance and tech industries hire farther out in anticipation of market conditions, but you don't usually have construction companies hiring carpenters/roofers/electricians/plumbers/etc. that they aren't going to put to work right away, it isn't a bench time industry.

Note the increase of manufacturing and construction jobs and the move away from burger flippers of the Obama era.

I hear people say this sometimes (all new jobs are burger flippers) but the data from BLS on weekly wages and jobs by industry don't support it. The biggest job gains by far during the recovery have been healthcare. Business services also had huge gains.

Here is weekly earnings: Table 1. Median usual weekly earnings of full-time wage and salary workers by sex, quarterly averages, seasonally adjusted

In constant dollars they are higher than they have been since before the recession, that is not what we'd see if jobs added during the recovery had significantly lower wages like burger flippers.

Give it up! You've lost once again.

What does this even mean? We're looking at a jobs report for USA right? We all win if the numbers are good, and we lose if they are bad. I'll never understand people who look at the world as some politically partisan team sport where scoring perceived wins/losses as political points. How exactly did that poster lose again if we have positive economic news?

 

[Meathead]

No problem. Employers hire for future production and services. There is no doubt current and pending reductions of government regulation, the investment returning to the US executive orders pertaining to things like the pipeline have motivated employers to take on more employees.

So you're saying construction companies hired a lot of workers, but it is for future construction projects that will come later in the year when Trump policies start affecting actual projects? This is not how the construction industry works, it's hiring cycles are very dynamic falling and rising very quickly when work exists or doesn't exist.

Finance and tech industries hire farther out in anticipation of market conditions, but you don't usually have construction companies hiring carpenters/roofers/electricians/plumbers/etc. that they aren't going to put to work right away, it isn't a bench time industry.

Note the increase of manufacturing and construction jobs and the move away from burger flippers of the Obama era.

I hear people say this sometimes (all new jobs are burger flippers) but the data from BLS on weekly wages and jobs by industry don't support it. The biggest job gains by far during the recovery have been healthcare. Business services also had huge gains.

Here is weekly earnings: Table 1. Median usual weekly earnings of full-time wage and salary workers by sex, quarterly averages, seasonally adjusted

In constant dollars they are higher than they have been since before the recession, that is not what we'd see if jobs added during the recovery had significantly lower wages like burger flippers.

Give it up! You've lost once again.

What does this even mean? We're looking at a jobs report for USA right? We all win if the numbers are good, and we lose if they are bad. I'll never understand people who look at the world as some politically partisan team sport where scoring perceived wins/losses as political points. How exactly did that poster lose again if we have positive economic news?

Convoluted and semantic acrobatics notwithstanding, the economic indicators speak for the economic revival at hand. Rocketing employment and stocks are not part of the fake news that too many on the left digest and expect others to consume the invariable result.

When the public at large begins to think for themselves, as has been happening of late, the result is also invariable, and obviously at hand.

 

[DrainBamage]

Convoluted and semantic acrobatics notwithstanding

This sounds like a softer way of saying "proving I was full of shit aside" since there is nothing convoluted about the simple fact jobs data does not support what you said about new jobs during Obama's term being burger flippers. It's all available online, exactly what industries had the most job gains. Don't shovel bullshit and you won't get called out on it.

the economic indicators speak for the economic revival at hand. Rocketing employment and stocks are not part of the fake news that too many on the left digest and expect others to consume the invariable result.

What does this have to do with the left? I thought we were talking about economic indicators and how much Trump is responsible, not what the left thinks.

This is great news on the job front, and the stock market is solid. All great stuff.