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Trump economy soars: 223,000 new jobs added!

There’s little doubt that the mainstream media will continue ignoring the phenomenal news coming from the White House. We now have yet another first from this President, the lowest unemployment rate in 49 years, or to be precise since 1969 down to an astounding 3.8%.

To add a little context to the significance of this monumental accomplishment by the Trump Administration, in 1969 the average cost of a new home was $15,550.00, with an average income of just $8,550 per year. A new car cost just a little over $3,000 and a gallon of gas around 35 cents.

American Astronaut Neil Armstrong became the first human to set foot on the Moon, uttering what was to become one of the most recognizable phrases of the 20th Centaury “That’s one small step for man, one giant leap for mankind.” And a gathering of over 400,000 young adults in upstate New York, in a little farming community called “Woodstock” forever changed the culture of America.

Fast forward back to the Trump economy and along with the remarkable drop in unemployment, and we see that the U.S. economy added 223,000 new jobs in May, about 13,000 additional jobs than the predicted 190,000 forecasted by economists.

Those numbers get even better when broken down into performance by specific industries, for example, manufacturing (which Obama predicted was dead), added 18,000 new jobs, construction grew by approximately 25,000 new position, and President Trump’s promise of restoring the mining industry grew by 6,000 new jobs, along with the service industry adding an astounding 171,000 employees, with an increase in retail of over 31,000 new additions.

Michael Feroli, Chief U.S. Economist at JPMorgan Chase & Co. in New York, acknowledged the Trump economy stating, “Demand for labor remains pretty vigorous, there isn’t a whole lot to dislike in this report,” other than this pace of hiring “isn’t sustainable. Job growth is running in excess of the sustainable pace of the demographically-determined supply of labor.”

“This report, in and of itself, definitely strengthens the case for four hikes by the Fed this year,” Feroli said. “The question is, will policymakers have the confidence that global developments won’t adversely affect U.S. growth?”

The President tweeted about an hour before the release of the “Jobs Report” his continued optimism with the economy posting; “looking forward to seeing” the figures, spurring market speculation that the report would be upbeat, and it was. In addition to payrolls topping economists’ forecasts, the unemployment rate had been projected to remain at 3.9%, while wage gains exceeded estimates for 2.6%.”

However while the overall economy continues to grow at a record pace, there’s one area that needs to be watched carefully, the elusive “participation rate” the number of working-age individuals who’ve dropped out of the labor force within the last decade, which decreased a bit from 62.8% down to 62.7% the prior month.

Those figures are important because it measures the wider issue of employment-population ratio and the overall health of our labor-market which actually rose to 60.4% from 60.3%. Although the increases are small, the indication is that working-age adults between 25 to 54 years, fell to 81.8% from 82%, that trend needs to be reversed.

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11 comments

  1. 171,000 service jobs, 31,000 retail jobs = 202,000 cxxp jobs? These numbers may look nice in statics but on a practical level these jobs are less than worthless. These types of jobs pay next to nothing. No one can support a family of four let alone one person on the pay from these jobs. A person would be hard press to pay rent.

    • My experience with service jobs is good pay and benefits. Retail not as good, but after being out of work for a while last year, I was willing to have anything rather than nothing.

      After having a relatively flat economy for a number of years, and uptick looks good to me.

    • You’re right, Brenda. Better to have no jobs so these people can stay home and enjoy life. No sense in people wasting their time working when the government is right there ready to support them, right Brenda?

    • Nevertheless, this is a damned site better than Obama produced. AND….they are not NEXT TO NOTHING!
      That is typical liberal talk.

  2. CharlesWilliamMorganJr

    This is a wonderful report! Let us hope the mainstream media will give it widespread dissemination!

    • It’s hard for any one President to take credit for the economy with so many historical factors, but Trump deliberately relaxed pollution regulations to boost the economy, which is exactly what’s WRONG with the economy. If nature must be spoiled for the sake of money, question the man-made money system, not the sanctity of nature. See “economic growthism” topics.

      Trump will never be a moral figure. He’s mostly a rich self-promoter seeking attention and insulting those who disagree with him, like a child would. The few good ideas he has are not really his own, and his execution has been spotty at best. He’s going overboard on protectionism and forcing iconic companies like Harley to ship jobs overseas (then again, America could do without noisy hogs).

  3. Brenda,
    Decisions have consequences, hope you didn’t graduate with a degree in “Gender Studies”! A large group of people have useless degrees and a YUGE school bill to pay. Reality hurts!

  4. How wonderful! Let’s get closer to reality shall we.

    The minimum wage was 2.50/hr health insurance was about 3/week or 150 year
    Now its 11.25? 4.5X PS NO benefits!

    a car was more like 2.3K average not 3K Our 69 station wagon was 1800.00 new. now its more like 25K -30K for the basics 15X

    a house 160K MIN 20X

    Basic high deductable health insurance is 125/ week MIN! 45X

    Yeah that jobs programs is really working

  5. For the doubting uninspired, America’s ability to bring employment growth brings with it the opportunity…for those who want it…. to advance themselves. That is why Ameeica has drawn so many for so long from around the world. From the view of those in the places with little opporunity, America has always been the best chance.
    If we lose this, you will find out what many immigrants have run to escape. NO NATION IS INVINCIBLE.

  6. Any jobs gained by crippling environmental regulations (“Who cares about pollution, we’ve got money to make!”) are not something to boast about in a moral framework.

    Trump can take credit for polluter-jobs more than most Presidents, though Obama oversaw the ugly expansion of industrial wind power, an icon of environmental hypocrisy.

    Good and bad ideas exist on both sides.

  7. There is nothing in the jobs report that is good news. With .2% increase in job participation with wages not increasing this means this is the same old economy that the right complained about with Obama. Add to that we have increased or deficit by $1.3T on the ruse that there would be more employment and better paying jobs as a result of huge, permanent, tax breaks for corporations, this is a complete disaster. Please, we all want a better America, but please, please, please do not fall for the smoke and mirrors that things are getting better. The only thing getting better is CEO pay. Yours, not so much.

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