Nonfarm payrolls rose by 128,000 in October, exceeding the estimate of 75,000 from economists surveyed by Dow Jones.
Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations.
Even with a decline of 42,000 in the motor vehicles and parts industry, the pace of new jobs well exceeded the estimate of 75,000 from economists surveyed by Dow Jones. The loss of jobs came due to the General Motors strike that has since been settled. That 42,000 job loss itself was less than the 50,000 or more that many economists had been anticipating.
The unemployment rate ticked higher to 3.6%, in line with estimates, but remains around the lowest in 50 years. A more encompassing measure that includes discouraged workers and those holding part-time positions for economic reasons also edged up to 7%.
The unemployment rate for African Americans nudged down to a record low 5.4%. Also, the total employment level as measured in the household survey jumped to 158.5 million, also a new high.
(Excerpt) Read more at cnbc.com ...
Trump’s economic policy is so simple that even a 2 year old could have done it: Get government out of the way, so that business can expand and modernize.
The reason that this policy works is because businesses only have a certain amount of money to ‘play’ with, and if they use it to comply with endless new regulations, guess what, they can’t use it to expand and modernize.
What AMAZES me that most economists can’t figure out something this simple. They’re convinced that recessions are simply the ebb and flow of the US economy and thus unavoidable.
Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations.
Even with a decline of 42,000 in the motor vehicles and parts industry, the pace of new jobs well exceeded the estimate of 75,000 from economists surveyed by Dow Jones. The loss of jobs came due to the General Motors strike that has since been settled. That 42,000 job loss itself was less than the 50,000 or more that many economists had been anticipating.
The unemployment rate ticked higher to 3.6%, in line with estimates, but remains around the lowest in 50 years. A more encompassing measure that includes discouraged workers and those holding part-time positions for economic reasons also edged up to 7%.
The unemployment rate for African Americans nudged down to a record low 5.4%. Also, the total employment level as measured in the household survey jumped to 158.5 million, also a new high.
(Excerpt) Read more at cnbc.com ...
Trump’s economic policy is so simple that even a 2 year old could have done it: Get government out of the way, so that business can expand and modernize.
The reason that this policy works is because businesses only have a certain amount of money to ‘play’ with, and if they use it to comply with endless new regulations, guess what, they can’t use it to expand and modernize.
What AMAZES me that most economists can’t figure out something this simple. They’re convinced that recessions are simply the ebb and flow of the US economy and thus unavoidable.
