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| Trump brags that he was acquitted of high crimes and misdemeanors. |
Mind you that the amount of jobs that were added are spread across the 50 states, District of Columbia and the five U.S. territories. The country hasn't really seen much change in the job growth.
This mild January has helped the U.S. gain some necessary jobs. The nonfarm payrolls rising for the month were 225,000. That means the unemployment rate rose to 3.6%.
Here were the main metrics from the Department of Labor’s January jobs report, compared to consensus expectations compiled by Bloomberg:
Change in nonfarm payrolls: +225,000 vs. +165,000 expected and +147,000 in December
Unemployment rate: 3.6% vs. 3.5% expected and 3.5% in December
Average hourly earnings month on month: +0.2% vs. +0.3% expected and +0.1% in December
Average hourly earnings year on year: +3.1% vs. +3.0% expected and +3.0% in December
The January jobs report also included upward revisions to each of November’s and December’s non-farm payrolls figures. November’s payrolls were upwardly revised by 5,000 to 261,000, while December’s were upwardly revised by 2,000 to 147,000. These changes raised the three-month average for job gains to 211,000.
Beneath the headline results, the labor force participation rate rose to 63.4%, or the highest level since 2013, from 63.2% in December. A higher labor force participation rate indicates a greater proportion of the working-age population is working or actively seeking employment.
Meanwhile, the broad U-6 measure of unemployment, which includes workers no longer seeking jobs and part-time workers who would rather have full-time work, rose slightly to 6.9%, from the 6.7% rate from December.
In keeping with recent trends, most of January’s payroll gains came from the private service-providing sector, with education and health services leading advances with 72,000 new payrolls in January. This was more than triple the 22,000 gains in those industries from December, and 29% higher than gains in these industries from January last year.
Retail trade, however, was a weaker spot in the services sector in the January jobs report, reflecting some payback after surging December hiring in these industries around the holidays. Retail trade lost 8,300 payrolls in January.
Within the goods-producing sector, manufacturing industries lost more jobs than expected, shedding 12,000 in January versus the 12,000 anticipated. December’s manufacturing job losses, however, were revised and to just 5,000, from the 12,000 previously reported.
Wage growth, which had slowed in December, picked back up in January, rising by 0.2% over December. Year on year, average hourly earnings rose 3.1%, beating expectations and accelerating relative to December’s pace of wage growth, but coming in below last year’s peak of 3.5%.
Ahead of the January jobs report, a number of other employment indicators presaged ongoing momentum in the labor market.
Weekly new unemployment claims declined in January after rising in December. For the week of the January payrolls survey, or the week of the 12th, claims were lower by 12,000 relative to December.
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| The Democrats had enough. |
And on Wednesday, ADP/Moody’s monthly report showed private payrolls climbed by the most since May 2015 in January, driven by employment gains in the services sector. Private sector payrolls rose by 291,000 in January, or well above the 199,000 from December, according to the ADP/Moody’s report.
Things that make you go hmmm....!
1. Donald J. Trump becomes the third U.S. President to be impeached while in office. He escapes being removed from office by the U.S. Senate. The Senate rejects witnesses and evidence. They quickly acquitted Trump. The trial offered extensive evidence. Republicans weren't convinced by the evidence and voted to acquit him. This acquittal assures Trump will ask for help from foreign entities yet again.
2. The Democrats have no clear frontrunner in the race to replace Trump. The Iowa Caucus is a hot mess and many of the Democrats are really angry over the process and are calling for Tom Perez to do something or get out the way.
3. The U.S. is on the verge of a war with Iran. The Iranian government has vowed to hit the U.S. and Israel for the killing of their general Qasem Soleimani. They are plotting cyber attacks and want the U.N. to broker deals regarding talks about peace.
4. Brick and mortar stores are shuttering in suburbia. JCPenney, Macy's, Pier 1 Imports, Forever 21, Hallmark, Kmart, Sears, Walgreens, Walmart, Kroger are closing stores in 2020.
5. No one is seeing the results of the Job and Tax Cuts Act passed in 2017. The tax cuts are not showing massive success. So far, no change in the wage gap between the middle class and wealthy.
6. Folks are working one or more jobs to stay afloat. Conservatives are claiming that folks who are on the safety net are worthless and lazy. They don't realize that many Americans are working more than 40 hours and are often staying longer hours or working a second job to pay rent, mortgage or vehicle expenses. Insurance rates are up due to Trump rolling back regulations, eliminating the insurance mandate of the Affordable Care Act, and private insurance companies aren't paying for natural disasters and human based disasters.
7. Trump and his administration did subliminal cuts to food stamps, housing credits and disaster relief. The Supreme Court ruled in favor of the Trump administration in their attempts to cut the safety net from immigrants who have American born children and working class families who are struggling to find food in area affected by food deserts, blight and natural disasters.
Nonetheless, Republicans will conclude that Trump's economy is great. Democrats will conclude that Trump's economy sucks. None of them will offer much other than the same old tired talking points about tax cuts, raising taxes on the rich and fixing roads and bridges. The same old shit but from a different face.
No one can wait forever for changes. Congress is made up of old, white and well off politicians.
Any person of color who is a member of the House or Senate are vilified or ridiculed because the white establishment continues to deny a place for everyone at the table.
Mitch McConnell, Kevin McCarthy, Nancy Pelosi and Chuck Schumer are old white millionaires.
They make up the status quo of politics. They will not work together and solve problems. Yeah, I hate Trump and all that he stands for. But damn it, we need to focus on getting at least things done. Pelosi and Schumer are pretty much done with Trump, McConnell and McCarthy.
He's impeached. That title will stay with him for the rest of his god awful legacy.
Bernie Sanders, Elizabeth Warren, Pete Buttigieg, Joe Biden, Amy Klobuchar and Michael Bloomberg are going to be beaten by Trump. They have no clear frontrunner and no candidate is presenting a viable message or alternative to the status quo. They are quickly caving to manufactured controversies inspired by talk radio, Fox News and the social media.
The possibility of Trump being reelected has cruised to 65% right now.
Those die-hard Trump supporters will say that his leadership is successful. All the while, they find that their average wages are stalling. Many of these Trump supporters probably lost their jobs. Some are probably losing their homes due to flooding, wildfires and foreclosure.
Food prices, energy prices, rent, city services and college education have risen.
Real Reason To Why Unemployment Rate Stays The Way It Is!
1. DEAD
2. BORN
3. IN PRISON
4. IN PRIMARY SCHOOL
5. IN MIDDLE SCHOOL
6. IN HIGH SCHOOL
7. IN COLLEGE NOT LOOKING
8. VOLUNTEER
9. DISABLED
10. STAY AT HOME PARENT
11. RETIRED
12. QUIT ON THEIR OWN
13. NOT HIRING QUALIFIED
14. NATURAL DISASTERS
15. ACTIVE MILITARY
16. NOT HIRING TOO QUALIFIED
17. LAID OFF
18. FIRED FROM THE JOB
19. DESTRUCTION TO FACILITY
20. OUTSOURCING
21. IMMIGRANTS TOO AFRAID OF BEING DETAINED BY I.C.E.
22. SHAMED BY SOCIAL MEDIA
Let me remind you, that Trump and Republicans believe rolling back regulations and austerity are the key factors to a strong economy and job market. The Republicans are not in control of the House of Representatives. The Democrats now control the House and will push for an agenda that Trump will likely oppose. Republicans in the Senate will continue to pass ridiculous laws that hurt the working class and middle class. They are already streamlining federal judges that could rollback years of progress.
The inept Senate leadership of Mitch McConnell is slowly getting covered. He is leading our country into the abyss. The Senate is delaying legislation on sensible gun reform. McConnell and many Republicans are fearful of the NRA and white gun owners. They clearly are ignoring the rest of America being fed up with these constant mass shootings.
Trump and Republicans believe that trickle down economics (i.e. free market capitalism) is helping Americans. Really, it's making people work harder and we're not seeing the benefits of it. So far private equity firms are buying corporations and piling on debt. These corporations can't sustain the debt and are forced to declare bankruptcy and eventually liquidation. Many of our nation's largest companies and start-ups have equity firms investing in them. When the firms want their money, they're going to get their money.
With Republicans trying to dismantle the Affordable Care Act, many of Trump's die hard supporters are going to get a culture shock when they find out their health coverage from their employer is terminated it because they are no longer forced to provide it. Or they'll keep hours lower to keep people from obtaining health insurance.
The Jobs and Tax Cut Act has added trillions of dollars of debt to the economy. The results of the tax cuts haven't produced the stability. It's still considered a very unpopular law.
Trump is destroying the economy, causing uncertainty in world and is bring chaos wherever he lands.
I won't say anything positive about him. Regardless of what happens, this is short-term success.
Don't believe the hype.
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