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| Barack Obama didn't lead his first term into a recession. |
The final jobs report for 2018 is out and it nets disappointment. The Labor Department announced that for the month of November, the country added only 155,000 jobs. Analysis were hoping that it would see at least 195,000 for the month.
The reasons include the announcement of GM closing four of its U.S. plants, Donald J. Trump's controversial rhetoric, the fall of retailers have placed the country in a position of uncertainty.
Since his election, Trump had bragged constantly about the economy and the stock market. He's not doing it much. He's bragging about Rasmussen Polls saying his job approval is at 50%.
Post-Midterm, the economy is sliding into a recession.
The unemployment rate still remains at 3.7%.
The report is a sign of a slowing but still strong labor market — and further support for the idea that the Federal Reserve may hold off hiking interest rates over the next year as quickly or as much as initially planned.
CNN reported that markets have been in turmoil in recent weeks amid continued uncertainty about Trump's ability to end his trade war with China, as well as over his ability to sell Congress on his replacement for the North American Free Trade Agreement.
The President last weekend threatened to terminate the 1994 deal, which would create a six-month window for Congress to ratify the new deal, known as the US-Mexico-Canada Agreement, or risk having no deal at all.
Most economists have been projecting a slowdown in 2019 as the effects of tax cuts and government spending wear off, turning into a recession sometime in 2020. The current expansion is only seven months away from being the longest period of positive job growth since the 1850s.
The missing ingredient, however, has been wage growth — and that looks like it's beginning to change. Paychecks grew by 3.1% over the last year, a relatively robust number that is in line with expectations as employers have had to fight to attract workers in recent months.
The percentage of people participating in the labor force remained the same and the median number of weeks people remained unemployed dropped from 9.4 to 8.9 weeks in November, suggesting that people are getting jobs more quickly after losing them.
However, the number of people "marginally attached" to the labor force — those who had looked for a job in the past year but stopped in the past month because they couldn't find one — has risen by nearly 200,000 over the past year. The percentage of people working part time who would rather work full time also rose slightly.
Despite high demand for workers in some sectors, that may show that people who want jobs increasingly aren't in the places where employers need them — and that the economy still has room to expand before running out of workers entirely. Also, the number of people holding part-time jobs in addition to their full-time jobs has been rising, and is now above its pre-recession high.
The retail sector, which is readying for a very busy holiday season, saw surprisingly anemic employment growth. New jobs in general merchandise stores were offset by losses in clothing, electronics, and sporting goods stores.
The strongest job growth came in health care, transportation and warehousing, and manufacturing, which added another 27,000 jobs for 288,000 total growth over the past year. Tariffs and fears of a larger trade war may not be having a huge positive impact, but they're definitely not choking the sector either.
Real Reason To Why Unemployment Rate Stays The Way It Is!
There are 104 million active body people not working in the United States. The examples of why they're not working.
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 austerity is the key to a strong economy and job market. The Republicans continue to pass ridiculous laws that hurt the working class and middle class. The Jobs and Tax Cut Act has added trillions of dollars of debt to the economy,
Deregulation has made safety a top priority. Many rollbacks of regulations imposed by Barack Obama and previous presidents have also made things worse. The removal from the Paris Climate Accords and the Iranian Nuclear Deal made things worse. Trump has created tension with trade partners.
Trump moving the U.S. Embassy to Jerusalem isn't productive as well. It has made the Middle East reject American investments.
Trump's support for Saudi Arabia and Russia's brutal takedown of dissents has made people uncomfortable with his leadership.
So if you actually believe that Trump is doing good, you're wrong. We are going to see the economy tank. The inept leader's rollback of regulations, these tariffs, saying these ridiculous comments and pushing for tax cuts are going to hurt us all in the long term.
