August jobs report showed a strong economy — and that's very bad for Democrats

So a few things.

First, lots of new jobs added.

The new jobs report is in and the verdict is clear — no one should believe a single word the Democrats say about the economy.

According to the Bureau of Labor Statistics (BLS), the number of people employed in August increased by a very impressive 590,000, pushing total employment to a record-high of nearly 157.9 million. The percentage of the population that was employed rose to 60.9 percent, the highest percentage since December 2008.

As a result, despite over 570,000 people joining the labor force, the unemployment rate held at 3.7 percent, near a 50-year low. Unemployment among African Americans and Hispanics also hit all-time lows last month, proving that the ongoing economic boom is still creating unprecedented opportunity for all U.S. workers.

Second, more wage growth.

Average hourly earnings increased at a healthy clip as well, growing by 3.2 percent since last August. It was the 13th month in a row that wages increased by at least 3 percent year over year. That’s tremendous news for American workers. Prior to this streak, wages last increased at least 3 percent in April of 2009.

Third, Democrats keep lying saying it's only the wealthy getting these rewards, it's a lie.

Wage increases were better for workers than managers. While the hourly wage increased 2 percent for managers, it increased an impressive 3.5 percent for workers.

The average American is crushing it under Trump. Why isn't CNN reporting this? CNN is reporting this ...

US hiring slows. Economy added 130,000 jobs in August

Maybe they should headline their article with this ....

The African-American unemployment rate fell dramatically to 5.5% from 6%. That was a record low for the data, which have been collected since 1972. The decline was led by a sharp drop in the unemployment rate for black women.
Hispanic unemployment fell to 4.2% from 4.5%. The race-based unemployment rate is a sometimes volatile number.

Can't do that, that would be real news.

Cracks are beginning to show
Despite the overall solid employment picture, weaknesses are beginning to show.
"It may in part be due to the difficulty in finding workers with the right skill sets given unemployment remains just 3.7%," said James Knightley, chief international economist at ING. "However, given creeping caution about the international backdrop and uncertainty on trade, firms may be increasingly cautious about hiring too."

www.cnn.com...

So according to CNN the record low unemployment is bad! Everyone is working so getting a job is harder, terrible news!

Can you imagine how good things would be if the MSM started talking UP our economy instead of doing everything they can to make it gloom and doom?
Than there's the FED.

a reply to: butcherguy

Can't have that, #NPC got their programming, and it's all #OrangeManBad ... even record low unemployment and huge wage growth for the average worker is something to write a negative headline about.

a reply to: butcherguy

Not sure what to think, we build parts for john deere global and cat global and we are slow as hell right now.. metal fabrication company, we are slow every election cycle and this snip is getting old. Soo we will see what happens, I know where my vote is going as when Trump did take over we were busy as hell, under Obama we had huge lay offs so it will be interesting to see what happens.. Either way I hope jobs stay strong.

a reply to: MarlbBlack

Just like everything in life there are ups and downs. There are some who win more and some who lose more. The only thing we can do is look at the average. There are definitely losers under Trump, especially with his trade stances. But the consequences of him not taking these stances, especially with China, will be devastating.

But the unemployment is crazy low, all time low for most minorities, and average wage growth for workers is very high, 13 months of over 3% growth. We had zero months of 3% after 2009 until Trump.

a reply to: OccamsRazor04

I agree with what you said, but again people are scared to invest come election cycle so even out of country trade (mining, or any other tractor which what I'm referring to) goes on hault, as we get slower the world keeps spinning.. We have a turn over rate of employees that is out of this world. I would like to see just a steady manufacturing stand point instead of crazy busy to crazy slow.. Now granted I could do the research into it and actually get numbers but hell I barely get paid to live a decent life... So this is why I post, why does an election cycle have to hinder so many American lives to hold down a job?

a reply to: OccamsRazor04

I have to agree with this 100%. I recently put in an application for a job that pays just as much as I am already but seems to have more forward momentum. And I got it with just an impromptu interview. After three months at Kroger I am asked to move up a level making more than what I was making more than I ever was. And the company is posting more jobs by the day!
The job market from my view is booming. Things seem good to me.

These figures don't make sense to me.

According to the Bureau of Labor Statistics (BLS), the number of people employed in August increased by a very impressive 590,000, pushing total employment to a record-high of nearly 157.9 million. The percentage of the population that was employed rose to 60.9 percent, the highest percentage since December 2008.

. . . As a result, despite over 570,000 people joining the labor force, the unemployment rate held at 3.7 percent, near a 50-year low.

So therefore if nearly 61 percent of the US population is employed, it stands to reason that almost 39 percent of the US population is not employed. Yet the claim is made that the unemployment rate is at 3.7 percentage.

With an estimated US population of 329,524,838 for 2019 and 158 million employed, that would mean that around only 48 percent are employed and 171 million are unemployed or 52 percent of the total population.

If a little over 67 percent of the population (220 million) is of working age (between the ages of 15 and 65) then 33 percent (108 million) aren't employed due to age. If 158 million out of 220 million are employed then that makes the unemployed percentage around 28 percent of working age people.

Demography of the United States

a reply to: MichiganSwampBuck

There are people that are not considered unemployed because they are not looking for a job. Housewives and adult children living off of their parents wealth count for some of these.

a reply to: Allaroundyou

Same here, the job opportunities in my field have exploded over the past 2 years and I have gotten 2 consecutive 12% raises. It seems as if the employers now know they need to compete to keep their employees. Win-win for the American worker in my area, but we have been neglected for decades being part of the flyover states.

a reply to: MichiganSwampBuck


Ummm...that's total population...remember...the school kiddies aren't working...nor are most seniors...

Lots of baby boomers retiring as well...


And the chronic generational welfare recipient of course...







YouSir

Pretty sad that a good economy and improving America is bad for the Democrat party.

originally posted by: YouSir
a reply to: MichiganSwampBuck


Ummm...that's total population...remember...the school kiddies aren't working...nor are most seniors...

Lots of baby boomers retiring as well...


And the chronic generational welfare recipient of course...

YouSir

You didn't read the last part. I might have added it before you read it as I accidentally hit reply before I finished.

If a little over 67 percent of the population (220 million) is of working age (between the ages of 15 and 65) then 33 percent (108 million) aren't employed due to age. If 158 million out of 220 million are employed then that makes the unemployed percentage around 28 percent of working age people.

originally posted by: butcherguy
a reply to: MichiganSwampBuck

There are people that are not considered unemployed because they are not looking for a job. Housewives and adult children living off of their parents wealth count for some of these.

So I hear, but the facts are the facts.

Looking for a job or not, they ain't working, therefore they are those who are unemployed by it's purest definition.

And now just to rain on your parade here are a few facts:

Forbes: Trump Is Falling Almost 1 Million Jobs Short Vs. Obama

Trump entered office on January 20, 2017, and starting with February 2017 he has been President for 29 months. Total job growth during that time has been 5.613 million or 194,000 per month with those results being helped by the tax cut.

Working back from January 2017, Obama’s last month in office, there had been 6.423 million jobs added or 221,000 per month. The difference for the 29 months is 810,000 more jobs or 27,000 more per month than Trump.

Yes its still good growth, but can you stop saying its 'the best ever' for crying out loud? Because it just isn't.

March Quarter’s GDP Report Confirms That Trump’s Economy Is Nothing Special

The BEA’s press release included, “The acceleration in real GDP in the first quarter reflected an upturn in state and local government spending, accelerations in private inventory investment and in exports, and a smaller decrease in residential investment.” To get a better handle on the true strength of the economy I believe it is worthwhile to take into account the impacts of trade, inventories and government spending, especially when they have an outsized impact on the results.

Reported GDP growth: 3.1% (3.06% when not rounded)
Positive impact from Trade: 0.96%
Positive impact from Inventories: 0.60%
Positive impact from Government spending: 0.42%
Adjusted GDP: 1.08% or 1.1%


This is the lowest rate since the June quarter of 2013 and is the third quarter in a row that it has declined from a high of 3.7% in the June 2018 quarter. The underlying economy is weaker than perceived when you look at transportation data, and if it continues on this path it could enter a recession when few are forecasting one.

So the reported GDP sounds relatively OK, but that figure is dominated by stuff that doesn't really indicate the health of the economy.

3 Charts Show Trump’s Economy Is Weaker Than People Think

Cass Information Systems along with Donald Broughton publish the Cass Freight Index on a monthly basis. It describes what it attempts to do, “As we try to navigate the ebb and flow of the economy, we don’t pretend to have any ‘secret sauce’ or incredibly complex models that have exhaustively analyzed every data point available. Instead, we place our trust in the simple notion that the movement of tangible goods is the heartbeat of the economy, and that tracking the volume and velocity of those goods has proven to be one of the most reliable methods of predicting change because of the adequate amount of forewarning that exists.”

In its April report it found that the Index was showing negative year over year growth for five months in a row. If this trend continues or starts to flatten out in negative territory this is not positive for the U.S. economy. This could be a situation as seen in 6 of the past 7 recessions that the economy was looking strong but turned negative in 7 months or less when most economic indicators were showing it to be positive.

originally posted by: Allaroundyou
a reply to: OccamsRazor04

I have to agree with this 100%. I recently put in an application for a job that pays just as much as I am already but seems to have more forward momentum. And I got it with just an impromptu interview. After three months at Kroger I am asked to move up a level making more than what I was making more than I ever was. And the company is posting more jobs by the day!
The job market from my view is booming. Things seem good to me.

Congrats 🥳 Hard Work all the day, get some.

originally posted by: MichiganSwampBuck

originally posted by: butcherguy
a reply to: MichiganSwampBuck

There are people that are not considered unemployed because they are not looking for a job. Housewives and adult children living off of their parents wealth count for some of these.

So I hear, but the facts are the facts.

Looking for a job or not, they ain't working, therefore they are those who are unemployed by it's purest definition.

You are being obtuse. My only question, is it intentional?

Statistics are almost always used for comparative purposes.

We are comparing the current economic situation to historic situations. Nothing more, nothing less.

If you want to redefine how those statistics are measured, that's fine, but unless you apply your new definitions to the old "numbers" for comparison, your new statistics have no value.

a reply to: OccamsRazor04

Here are some current stats from BLS. I would like to point out that job growth is down compared to 2018 by 65K.

Current Employment Statistics Highlights

Nonfarm payroll employment increased by 130,000 inAugust. Federal government, health care and financial activities added jobs over the month, while mining lost jobs. Year to date, job growth has averaged 158,000 per month, down from 223,000 per month in 2018.The employment change for Junerevised down from +193,000 to +178,000, and the change for July also revised down from +164,000 to +159,000. On net, employment over June and July is 20,000 lower than previously reported.In August, average hourly earnings of all private-sector employees increased by 11cents, or 0.4 percent, after gains of 9 cents in both June and July. Over the year, hourly earnings have risen by3.2 percent. Average weekly hoursincreased by 0.1 hour to 34.4hours.

a reply to: OccamsRazor04

There are two halves to the equation. It doesn't matter how much your salary increases. It doesn't matter what you pay in taxes. All that matters is this:

www.quandl.com...

Be delusional all you want about what is bad for Democrats. But the fact remains the real numbers do not support your right wing delusional thinking.

a reply to: MichiganSwampBuck

Looking for a job or not, they ain't working, therefore they are those who are unemployed by it's purest definition.

That is NOT TRUE.

'Unemployed' has a specific definition for the purpose of the statistical reports.

You CANNOT just look at the reported figures and arbitrarily decide that they include people who are not looking for a job.