UPDATE 8.25.20: Before the China virus hit, and Democrats were telling everyone not to worry and to head to Chinatowns for the Lunar New Year parades, President Donald Trump had engineered an economy that produced the lowest unemployment since the time of Richard Nixon.
Originally posted October 8, 2018.
CNBC reports that today’s Employment Situation Report from the Labor Department reports that unemployment has fallen to the lowest level since 1969. They write:
- The unemployment rate fell two-tenths of a percentage point to 3.7 percent, the lowest level since December 1969 and one-tenth of a percentage point below expectations.
- The closely watched average hourly earnings component showed a 2.8 percent year-over-year increase, in line with Wall Street estimates.
- August’s initial jobs count was revised up dramatically, from 201,000 to 270,000, while July’s numbers came up as well, from 147,000 to 165,000.
- Unemployment among black Americans declined three-tenths of a point to 6 percent
Read more here.