Skip to comments.Even the Seemingly Disappointing Job Creation Numbers Are Actually Pretty Great
Posted on 10/05/2018 8:20:08 AM PDT by edwinland
The September jobs numbers are the 2018 United States economy in a nutshell: Even when an economic report is bad these days, its actually pretty good.
When the latest numbers first were broadcast at 8:30 a.m. Friday, it looked like a big disappointment. Employers added only 134,000 jobs to their payrolls last month, well below the levels of recent months and well below what forecasters had projected.
But even apart from the usual warnings about statistical error and randomness (the true rate of job creation could turn out to be either much higher or much lower), the numbers are a good bit better than that single data point suggests.
And revisions to previous months numbers were positive, so there was more momentum heading into September than it had seemed. August was already reported to be strong, but now looks to have been a blockbuster month for job creation the previously reported 201,000 jobs added has been revised up to 270,000.
In other words, if you simply took those 69,000 extra jobs created in August and credit them to September, suddenly you would have two months of very steady job creation at a high rate.
Its the latest piece of evidence that 2018 is set to be the best year for the United States economy in quite a long time.
(Excerpt) Read more at nytimes.com ...
Make things in America again.
“Its the latest piece of evidence that 2018 is set to be the best year for the United States economy in quite a long time.”
Who’da thunk all this from a nazi-racist-misogynist-bigot.
The Slimes has the sads. :(
Don’t be fooled by soft headline figure in NFP( non- farm payroll).
Not at work due to bad weather ran close to 300K in September.
Well above normal, likely weighing on retail trade and leisure & hospitality sectors.
The revision up from 200K to 270K in August is an amazing figure.
I wonder if author Neil Irwin will have a job after this.
Everywhere I go I see help wanted signs.
Fascinating. Especially the fact that unemployment rate is the lowest since Nixon. But guess what, inflation is about half what it was under Nixon. How low can we go before we have to worry about inflation? Im not an economist so I can’t even make an educated guess. But I’m starting to believe Scott Adams when he talks about this being the Golden Age.
Look what happens when obama starts taking credit for the economy...
It is amazing, but (in my humble opinion) this is what you get when you have real growth for a reason rather than Fed-stoked fake growth based on artificially low interest rates (which is what we had since 2009).
The reason in this case is the absolutely shocking reversal of American corporate tax policy from a punishment for anyone making the mistake of putting their headquarters in the US (by sticking them with a tax rate almost double the world average and applying it to all their income whether in the US or not), to a rate pretty close to the world average, so you can start your company in the best country in the world without being punished for doing so.
With a lot of new companies and old companies growing, you can pay higher wages, and also you’re making more stuff, so you get more demand and more supply and hence it doesn’t spike inflation.
How low can we go before we have to worry about inflation?
The casual LIV could easily interpret this headline to essentially mean "things are not as bad as they may seem."
The NYT will never tell it like it is if it's going to positively portray DJT in any way.
My little company has broken records for month, quarter and year ...and we’ve still got three months to go!
The labor participation rate declined 4% right around the time Obama came into office. It was made easy to qualify for disability so many did. Or those who were out of work for a year or more were claimed to have given up (though nobody ever asked them if they had) and thus both sets of people were not counted as officially unemployed......even though many wanted to work and were fully capable of working. To actually count all these people would have DOUBLED the unemployment rate the government had to report. Now we all know, that cant be permitted - not with Obama in the White House.
The reason you are not seeing inflation is the real unemployment rate is higher than whats been reported. President Trump has done a magnificent job, but there is still further to go to repair all the damage from the Great Recession - made far worse by 8 years of Obamas Leftist policies.
The NYT doesnt have the guts to say why the economy is doing well now - ie Trump coming in and undoing everything Obama did. It doesnt have the intellectual honesty to put the quotes from Krugman and others up showing things have turned out to be exactly the opposite of what they predicted when Trump cut taxes, cut regulation and renegotiated trade agreements to get a better deal for America.
“Everywhere I go I see help wanted signs.”
Me, too! I’m tempted to go back to work part time just to be part of the Trumpconomy and throw more $ at my IRA while the market keeps going up, too. (Four years to go before I start drawing SS.)
We BARELY survived the 0bama years. During that time I was working full-time, managing a Garden Center. All of that 0bamacare CR@P really cost us a lot of time and money, not to mention disappointment to long-time employees who lost their insurance and Flex Plans through us.
Nice to see The New York Slimes HAVING to print this! MAGA!
More significant is that it occurred during the height of the Vietnam War when millions of young males were out of the civilian job market.
How simple, which begs the question why wouldn't Obama do it.
America must be brought to its knees.....it's not faaaair to the rest of the worlld
NY Slimes spins the good news.
You crystallized it. Economic policy does not have to be arcane science. Lower taxes stoke job growth and hiring, boosts wages and income growth, and fuels GDP. People want opportunities to earn a fair wage. They (most) don’t want handouts. Simple, but politicians muck it up. Thank God President Trump gets it.
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