Well, since I have been retired for almost two and a half decades now she should. But I make enough to have all of the fun I want. And that is all that matters.
The U.S. labor market is the strongest it has been in the last half century, as shown by economic data across various metrics. This is partly attributable to President Trump’s progrowth economic policies, the results of which are disproportionately benefiting Americans who were previously left behind. The Administration’s policies are boosting labor demand and lowering structural barriers to entering the labor market. This report provides evidence that this labor market has contributed to reduced inequality through an economic boom that is greatly benefiting historically disadvantaged groups. These groups are becoming more and more self-reliant through their economic activity, rather than remaining inactive in the labor market to qualify for means-tested government programs. The Trump Administration’s pro-growth policies have led to a surge in labor demand, and thus, for the first time on record, there are more job openings than unemployed people. In 2019, the U.S. unemployment rate has reached 3.5 percent, the lowest rate in five decades. Falling unemployment has reduced the share of the population on unemployment insurance to the lowest level since recording started in 1967. Importantly, the unemployment rate for many historically disadvantaged groups has also reached historic lows. The African American unemployment rate has hit the lowest level on record, and series lows have also been achieved for Asians, Hispanics, American Indians or Alaskan Natives, veterans, those without a high school degree, and persons with disabilities, among others. Since the 2016 election, the economy has added more than 7 million jobs, far exceeding the 1.9 million predicted by the Congressional Budget Office in its final preelection forecast, which relied on trends from the previous phase of the current economic expansion. These gains have brought people from the sidelines into employment. In parts of 2019, nearly three quarters of people entering employment came from out of the labor force—the highest rate on record. And the prime-age labor force is growing, reversing losses under the prior administration’s expansion period. This evidence suggests that the labor market’s revival over the past three years is not a continuation of past trends but instead is the result of President Trump’s progrowth policies. The Trump Administration’s policies are not only leading to more jobs but also to higher pay, as a rise in demand in any market puts upward pressure on both quantity and price. Annual nominal wage growth reached 3 percent in 2019 for the first time since the Great Recession, and nominal wage growth has been at or above 3 percent for 16 straight months. Importantly, wage growth for many historically disadvantaged groups is now higher than wage growth for more advantaged groups, as is the case for lower-income workers compared with higherincome ones, for workers compared with managers, and for African Americans compared with whites.
Prof. Blinder fails to inform us that the pre-pandemic boom reversed 15 years of declining labor-force participation, drove jobless rates to a 50-year low and advanced black employment to record levels
Prof. Blinder fails to inform us that the pre-pandemic boom reversed 15 years of declining labor-force participation, drove jobless rates to a 50-year low and advanced black employment to record levels
www.wsj.com
Press Release - U.S. Unemployment Rate Falls to 50-Year Low
Council of Economic Advisers
Today, the Bureau of Labor Statistics (BLS) released its monthly Employment Situation Report, which shows robust employment growth in September. Job gains are particularly noteworthy considering that the United States is in the midst of the longest economic recovery in its history. The Trump Administration's pro-growth agenda provides job creators with the framework they need to expand their businesses and offer more opportunities for workers. Since the President's election, the economy has added over 6.4 million jobs—more than the population of Maryland. Steady job growth in combination with sustained year-over-year wage increases are not only positive signs for the economy: They also improve workers' quality of life and incentivize previously left-behind Americans to join the labor force.
Labor market is thriving far better under Trump than under Obama
BY ANDY PUZDER, OPINION CONTRIBUTOR - 10/09/17 12:00 PM ET
The employment news in September was far better than you might think. Headlines showed consistently that the U.S. Bureau of Labor Statistics (BLS) survey of businesses marked a loss of 33,000 jobs in September. But this survey reduces employment if a person doesn’t work and isn’t paid even if they still have a job.
The BLS also conducts a separate survey of households that considers workers employed if they keep their jobs. As such, it is a better measure when there is a temporary business disruption such as the one Hurricane Harvey and Hurricane Irma recently caused. This survey showed an impressive 906,000 more people employed in September.
The U.S. labor market is the strongest it has been in the last half century, as shown by economic data across various metrics. This is partly attributable to President Trump’s progrowth economic policies, the results of which are disproportionately benefiting Americans who were previously left behind. The Administration’s policies are boosting labor demand and lowering structural barriers to entering the labor market. This report provides evidence that this labor market has contributed to reduced inequality through an economic boom that is greatly benefiting historically disadvantaged groups. These groups are becoming more and more self-reliant through their economic activity, rather than remaining inactive in the labor market to qualify for means-tested government programs. The Trump Administration’s pro-growth policies have led to a surge in labor demand, and thus, for the first time on record, there are more job openings than unemployed people. In 2019, the U.S. unemployment rate has reached 3.5 percent, the lowest rate in five decades. Falling unemployment has reduced the share of the population on unemployment insurance to the lowest level since recording started in 1967. Importantly, the unemployment rate for many historically disadvantaged groups has also reached historic lows. The African American unemployment rate has hit the lowest level on record, and series lows have also been achieved for Asians, Hispanics, American Indians or Alaskan Natives, veterans, those without a high school degree, and persons with disabilities, among others. Since the 2016 election, the economy has added more than 7 million jobs, far exceeding the 1.9 million predicted by the Congressional Budget Office in its final preelection forecast, which relied on trends from the previous phase of the current economic expansion. These gains have brought people from the sidelines into employment. In parts of 2019, nearly three quarters of people entering employment came from out of the labor force—the highest rate on record. And the prime-age labor force is growing, reversing losses under the prior administration’s expansion period. This evidence suggests that the labor market’s revival over the past three years is not a continuation of past trends but instead is the result of President Trump’s progrowth policies. The Trump Administration’s policies are not only leading to more jobs but also to higher pay, as a rise in demand in any market puts upward pressure on both quantity and price. Annual nominal wage growth reached 3 percent in 2019 for the first time since the Great Recession, and nominal wage growth has been at or above 3 percent for 16 straight months. Importantly, wage growth for many historically disadvantaged groups is now higher than wage growth for more advantaged groups, as is the case for lower-income workers compared with higherincome ones, for workers compared with managers, and for African Americans compared with whites.
Prof. Blinder fails to inform us that the pre-pandemic boom reversed 15 years of declining labor-force participation, drove jobless rates to a 50-year low and advanced black employment to record levels
Prof. Blinder fails to inform us that the pre-pandemic boom reversed 15 years of declining labor-force participation, drove jobless rates to a 50-year low and advanced black employment to record levels
www.wsj.com
Press Release - U.S. Unemployment Rate Falls to 50-Year Low
Council of Economic Advisers
Today, the Bureau of Labor Statistics (BLS) released its monthly Employment Situation Report, which shows robust employment growth in September. Job gains are particularly noteworthy considering that the United States is in the midst of the longest economic recovery in its history. The Trump Administration's pro-growth agenda provides job creators with the framework they need to expand their businesses and offer more opportunities for workers. Since the President's election, the economy has added over 6.4 million jobs—more than the population of Maryland. Steady job growth in combination with sustained year-over-year wage increases are not only positive signs for the economy: They also improve workers' quality of life and incentivize previously left-behind Americans to join the labor force.
Labor market is thriving far better under Trump than under Obama
BY ANDY PUZDER, OPINION CONTRIBUTOR - 10/09/17 12:00 PM ET
The employment news in September was far better than you might think. Headlines showed consistently that the U.S. Bureau of Labor Statistics (BLS) survey of businesses marked a loss of 33,000 jobs in September. But this survey reduces employment if a person doesn’t work and isn’t paid even if they still have a job.
The BLS also conducts a separate survey of households that considers workers employed if they keep their jobs. As such, it is a better measure when there is a temporary business disruption such as the one Hurricane Harvey and Hurricane Irma recently caused. This survey showed an impressive 906,000 more people employed in September.
Press Release - U.S. Unemployment Rate Falls to 50-Year Low
Council of Economic Advisers
Today, the Bureau of Labor Statistics (BLS) released its monthly Employment Situation Report, which shows robust employment growth in September. Job gains are particularly noteworthy considering that the United States is in the midst of the longest economic recovery in its history. The Trump Administration's pro-growth agenda provides job creators with the framework they need to expand their businesses and offer more opportunities for workers. Since the President's election, the economy has added over 6.4 million jobs—more than the population of Maryland. Steady job growth in combination with sustained year-over-year wage increases are not only positive signs for the economy: They also improve workers' quality of life and incentivize previously left-behind Americans to join the labor force.
The funniest part is you never actually post any data, all you have is OpEd pieces with other people's opinions. It is almost as if you cannot think for yourself.