MAGAnomics – November Jobs Gains +266,000, Unemployment Rate 3.5%, Wage Growth +3.1%, Inflation 1.4%…
“These are the best jobs numbers of our lives”…
The Bureau of Labor Statistics (BLS) has released the jobs number for November and the results are astoundingly excellent. November jobs gains 266,000; the year-over-year wage growth is 3.1% with non-supervisory wages growing double the rate of supervisory wages. The unemployment rate dropped slightly to 3.5 percent.
Additionally, September was revised up by 13,000 from +180,000 to +193,000, and the change for October was revised up by 28,000 from +128,000 to +156,000. With these revisions, employment gains in September and October combined were 41,000 more than previously reported. [Full BLS Report Here]
Also in November, 1.2 million persons were marginally attached to the labor force. This is a reduction of 432,000 from a year earlier. Those additional jobs are not counted in any labor report because those returning workers were previously not looking for employment; they came off the sidelines and entered the workforce. AMERICA IS WORKING AGAIN !
The pundits are shocked, s.h.o.c.k.e.d!
NEC Director Larry Kudlow: “President Trump Has Restructured The U.S. Economy” – Main Street USA is Back On Top…
National Economic Council Director Larry Kudlow appears on Fox Business news to discuss the November jobs report, economic growth and the China trade discussions.
Kudlow highlights the primary point that President Trump has reestablished Main Street USA as the primary focus of policy. U.S. companies invested in the U.S. economy are doing exceptionally well and receiving the majority benefit. U.S. multinational companies who are invested overseas are not benefiting as much. Wall St -vs- Main Street.
Director Kudlow is correct, if the House can ratify the USMCA trade deal, North America will see a massive influx of investment.
In essence Titan Trump is winning the economic battle by: (a) repatriating wealth (trade policy); (b) blocking exfiltration (main street policy); (c) creating new and modern economic alliances based on reciprocity (bilateral deals); and (d) dismantling the post WWII Marshal plan of global trade and one-way tariffs (de-globalization).
Stunning News in Canada – Economy Loses 71,200 Jobs, Unemployment Jumps to 5.9%…
Elections have consequences. On the same day the U.S. economy reports astoundingly successful jobs growth of 266,000 jobs and a drop in the unemployment rate to 3.5 percent; the Canadian state economic minister reports surprisingly terrible jobs losses of 72,200 jobs and a jump in unemployment from 5.5 to 5.9 percent.
The Canadian economy is roughly one-tenth the size of the U.S. So in equivalent terms the results from Canada reflect a comparative loss of 720,000 jobs on the same day the U.S. revises all figures upward to over 300,000 gains. A stunning economic contrast:
OTTAWA (Reuters) – The Canadian job market lost a surprise 71,200 net positions in November while the unemployment rate rose to 5.9%, the highest in more than a year, data showed on Friday, as analysts said a repeat of the weak numbers could force the Bank of Canada to rethink its monetary policy.
Analysts in a Reuters poll had forecast a gain of 10,000 jobs and had predicted the unemployment rate would hold steady at 5.5%. […] November’s numbers followed a weak report in October, when the labor market unexpectedly shed jobs despite a likely boost from hiring related to the federal election.