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Thanks President Trump: Unemployment Rate Lowest in Half-Century

August 24, 2020 By Richard C. Young

UPDATE 8/24/2020: Remember Americans, this is what America’s Job Creator Donald Trump did for you before the Chinese stepped in with their world-economy-killing COVID-19!

Originally posted December 9, 2019.

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.

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Related Posts

  • Remember America, What President Trump Did For Us All
  • More than Ever, America’s Job Creator Donald Trump
  • Trump Economy: Lowest Unemployment in 49 Years!
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Richard C. Young
Richard C. Young is the editor of Young's World Money Forecast, and a contributing editor to both Richardcyoung.com and Youngresearch.com.
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