The economy keeps rolling along.
The November jobs report has come out and it shows that the U.S. economy is strong and still moving forward at a solid clip. From the Associated Press …
Hiring in the United States jumped last month to its highest level since January as U.S. employers shrugged off trade conflicts and a global slowdown and added 266,000 jobs.
The unemployment rate dipped to 3.5% from 3.6% in October, matching a half-century low, the Labor Department reported Friday. And wages rose a solid 3.1% in November compared with a year earlier.
Investors cheered the report, sending the Dow Jones industrial average up more than 300 points in late-morning trading.
November’s healthy job gain runs against a widespread view that many employers are either delaying hiring until a breakthrough in the U.S.-China trade war is reached or are struggling to find workers with unemployment so low. The pace of hiring points to the resilience of the job market and economy more than a decade into the U.S. economic expansion — the longest on record.
The unemployment rate ticked up to 3.6% last month on the heels of the G.M. strike affecting nearly 40,000 workers. Even with those workers coming off the jobless rolls, job growth was still almost 50k higher than analysts had predicted according to the New York Times. This shows that even with some uncertainty with the trade stalemate with China, the fundamentals of the U.S. economy are solid.
Now, I’m not going to split hairs here. What has happened these past 2 years with the economy has been very impressive after 8 years of anemic growth. However, the inability to get the U.S, Canada and Mexico trade deal passed has been maddening. Also, I fully appreciate the President taking on China and their abuse of current trade deals, intellectual theft and monetary manipulation.
Now is the time for the Trump administration to pound the hell out of Nancy Pelosi in the House to get the USMCA trade deal passed and tell China to stop dragging their feet on a comprehensive agreement. If those things get done the U.S. economy will take off and break even more historic barriers that POTUS 44 could have never dreamed about.
Also, it would greatly help in the 2020 election.
Let’s hope that the economy keeps growing and America keeps #Winning!!