The Leading Economic Indicators were flat last month after a full quarter of monthly mini-declines.
After a 0.1% pre-revision mini-decline in October, the Coincident Economic Indicators recorded a strong 0.4% pre-revision November. Meanwhile, the Dow has gained over 10,000 points since Trump’s election win.
No way the economy is heading for recession at this juncture, especially in that President Trump’s poll numbers keep looking better and better.
Democrats’ impeachment stupidity, along with the total lack of a credible candidate to go up against a fighter like Donald Trump, “America’s Jobs Creator,” has lit a fire under the Trump base, along with a veritable horde of normal middle of the road voters. Really quite shocking.
A defeat for Donald Trump in 2020, and you might as well kiss goodbye your job and your IRA.
Meanwhile, as the Democrats rail against Trump, his approval ratings have improved immensely. His net disapproval is at 7.5%, which is a significant improvement for him from just six days ago when it was 9.5, and even more from October 26 when it was 13.4. The impeachment proceedings seem to be rallying people around Trump, rather than turning them against him.
Only a crazy person would think of replacing a jobs-creating doer like President Trump with any of the job and IRA killing Democrats running against him. The WSJ reports that the jobless rate dipped to a 50 year low last month. They write (abridged):
The U.S. job market strengthened in November, as hiring jumped and unemployment returned to a half-century low, adding fuel to the economic expansion.
Employers added 266,000 jobs last month—the fastest pace since 312,000 in January—and the jobless rate dipped to 3.5%, matching September as the lowest level since 1969, the Labor Department said Friday. Wages also advanced, up 3.1% from a year earlier.
“This is a ‘who would have thought moment?’” said Becky Frankiewicz, president of staffing company ManpowerGroup’s North America division. “No one would have ever guessed we could be sitting at 3.5% unemployment with 110 months of job gains.”
The stronger pace of hiring this fall could help juice the broader U.S. economy, which is still expanding but at a slower pace than last year.
Evidence suggests the resilience of households is poised to continue. Americans’ view of the economic outlook improved significantly so far in December, according to a University of Michigan consumer-sentiment survey released Friday.
Wages are growing faster for rank-and-file workers than some in higher pay brackets. Further pickup in pay could be a key lever behind faster labor-force growth, which would help fill some employers’ appetite for workers at a time of low unemployment.
Read more here.