U.S. gains 223,000 new jobs in May, unemployment falls to 18-year low of 3.8%

Market Watch ^

[tenger]

Unemployment is 100% if you’re one of the unemployed.

[Tennessean4Bush]

MAGA! Best. Election. Ever. EVER!

When Trump won the election, I felt relief that Hillary lost but also had some fun watching the replays of election night over and over again to enjoy seeing the liberals faces fall. I did not expect him to be conservative, or to keep his promises, or really much of anything. But WOW! He is proving to be the most effective conservative President since Reagan and probably will end up being more effective than Reagan.

Trump just gets it, and he loves his base of support. The Bushes seem to tolerate the conservative base but were always too quick to compromise and capitulate to the Dems. Trump just sticks it to the Dems and drives them crazy while doing it. I wake up almost every morning with a smile on my face to see how he triggers the Dems today, LOL!

[xkaydet65]

Back in the 80s NYC had a Labor Day Parade crisis. It seemed fewer workers were marching and the was among many union members little enthusiasm to march or bash Reagan. When asked why his men werent marching on Labor Day,Lonnghoreman Pres Teddy Gleeson said, “ you know where my guys are? They’re out on Long Island or down on the Shore closing up their summer homes.” Soon after the NYC Central Labor Vouncil changed the parade date to the Sat after Labor Day.

[Moonman62]

The unemployment rate was 5.0 when the Halfrican Queen took office and 4.7 when he left. It never went below 4.6 and went as high as 10.0.

...

And if it weren’t for the Fed flooding the markets with money we’d have had a total economic collapse under the Halfican Queen (LOL).

[Diana in Wisconsin]

Exactly. You nailed it! :)

[Diana in Wisconsin]

Beau has two very nice pensions coming in from the Laborers and the Electricians unions. He worked very hard for it for a long time and deserves every penny.

My Dad was a Union Man, too - Steamfitter and Plumber.

I don’t doubt those guys back in the 80’s had summer homes. If you can MAKE, REPAIR, BUILD or DO something that benefits others, you are going to do OK in this world.

I never missed a meal growing up under my Dad’s roof, and I’m certainly not missing any now, with Beau. If fact, I’m cooking every meal, LOL! ;)

[ScottinVA]

Went to the NY Times article on this; not a single comment from readers. Poor libs... “bad” news all around.

[buffaloguy]

O’s average growth rate was 1.9% per year. Awful. Technical indicators showed am expansion but a general expansion never happened.
Unemployment low rates were due people not looking because there were no jobs.
DJT’s numbers are far better with much better GDP growth rates.

[SeekAndFind]

RE: unemployment falls to 18-year low of 3.8%

I wonder what the Labor Force Participation Rate is...

[catnipman]

3 ... 2 ... 1 ... leftist fake stream suddenly discovers the U6 unemployment numbers and tries to explain to us how Trumps’s job recovery is fake ... either that or they’ll all just ignore the good economic news hoping that if THEY don’t tell us about it, then none of us will notice on our own that our economic lives are improving ...

[MNJohnnie]

a nine-year-old economic

Just cannot stop lying can they?

[MNJohnnie]

False, the one who switched to using the U3 standard was Bill Clinton

[MNJohnnie]

No because then they will have to explain how Bill Clinton, to create a false recovery, switch from the U6 numbers in 1993

[going hot]

Market watch is left leaning, very acute angle.

They will look at anything in any bad light they can produce, real or imagined.

[Moonman62]

W made it worse.

[SeekAndFind]

WHERE THE JOBS ARE FOR MAY 2018

Of note: while last month's jobs report was truly impressive in terms of job gains by industry, with the highest paying adding the most workers, in May we saw a continuation of many of the trends observed last month:

• Continued strength in Goods Production: Mining (+5.5K), Construction (+25K) & Manufacturing (+18K).
• Trade & Transportation Rebounded: Wholesale (+4.2 after a big drop last month), Retail (+31.1K), and Truck Transportation (+6.6K).

Here the surprise was that just 6.6K trucking jobs were added, following complaints from the major trucking employers, all of whom have noted they can't find enough people to hire, which suggests there may be an upward revision next month.

Some other highlights:

• Professional Services were especially strong, driven by White collar demand (Technical services +22.6K). The offset: Temp workers came in soft declining by 7.8K.
• Manufacturing also very strong at +18K: machinery added +5.8K jobs and fabricated metal products was up +2.4K
• Education rebounded from last month's weakness at +39K:
• Healthcare was steady: +31.73K: Employment rose in ambulatory health care services (+17,900) and hospitals (+6,200).
• Leisure & Hospitality another strong month: +21K
• Mining +4K with most of the gain coming from support activities for mining (+3,100).

[SeekAndFind]

Establishment Survey print showed a +223K jump in total jobs, looking at the Household Survey showed one stunning outlier print: in May the number of full-time jobs rose from 127.753 million to 128.657 million, a 904K increase in one month, offset by a 625 plunge in low-quality, part-time jobs.

[NCLaw441]

The headline says lowest unemployment in 18 years, but there is a quote in the piece saying that you’d have to look back to 1969 for a lower figure. I’m no math whiz, but isn’t that 49 years?

[SeekAndFind]

Unfortunately, Labor For participation rate is still the pits

For all the talk that the slack in the labor force is set to decline, precisely the opposite is taking place, because in May, the number of people not in the labor force increased by another 170K, rising to 95.915 million, a new all time high.

Adding to this the 6.1 million currently unemployed Americans, there are 102 million Americans who are either unemployed or out of the labor force (and it is also worth noting that of those employed 26.9 million are part-time workers).