Author Topic: Blowout jobs growth of 250,000 bolsters Trump, GOP before elections  (Read 1159 times)

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Offline mystery-ak

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Blowout jobs growth of 250,000 bolsters Trump, GOP before elections
by James Langford
 | November 02, 2018 08:45 AM

U.S. employers added 250,000 workers in October, the last month before mid-term elections in which incumbent Republicans have pinned their campaigns in part to the success of President Trump's economic policies.

Unemployment held steady at the 3.7 percent reached the month before -- the lowest since December 1969. The payroll expansion reported by the U.S. Labor Department on Friday was 25 percent 32 percent higher than the average estimate of 190,000 from economists surveyed by FactSet and compares with growth of 134,000 a month before.

The blowout growth topped even the 228,000 estimate from Morgan Stanley economist Ellen Zentner, who had predicted a rebound as stores and restaurants that temporarily shut their doors during Hurricane Florence in September resumed operation.

That month, "industries typically impacted by weather accounted for a good share of the downside surprise," with retail payrolls down 20,000 and leisure and hospitality payrolls down 17,000," Zentner said in a report.

Payroll-processing firm ADP, meanwhile, said private-employer payrolls expanded by 227,000 in a report on Wednesday, noting significant growth in leisure and hospitality, which added 40,000 jobs. Wall Street typically follows ADP's figures closely, viewing them as a potential indicator of the Labor Department's broader assessment.

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https://www.washingtonexaminer.com/business/blowout-jobs-growth-of-250-000-bolsters-trump-gop-before-elections
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Offline SirLinksALot

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Re: Blowout jobs growth of 250,000 bolsters Trump, GOP before elections
« Reply #1 on: November 02, 2018, 02:12:23 pm »
I don't look at the unemployment rate as an indicator of how good the labor market it. I look at the LABOR FORCE PARTICIPATION RATE.

Is it up or down? if the former, by how much? last I looked at it, despite the 3.8% unemployment rate, the participation rate hasn't budged.

Offline SirLinksALot

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Re: Blowout jobs growth of 250,000 bolsters Trump, GOP before elections
« Reply #2 on: November 02, 2018, 02:14:15 pm »
This chart is provided courtesy of the site: ZERO HEDGE:


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Re: Blowout jobs growth of 250,000 bolsters Trump, GOP before elections
« Reply #3 on: November 02, 2018, 02:38:48 pm »
The Democrats were swept into office in 2006 because they had bad-mouthed the economy. They did it so well, the economy tanked after the Christmas collapse. The Democrats managed to stay in office despite the horrible economy.
My guess is that the Democrats have spent the money to take back Congress, despite having nothing to run against except Trump. I think they have figured out the numbers they need in the areas where they can pull it off. Our normally conservative state district just elected a flaming liberal. I think people feel comfortable enough with the economy that they can change teams to see what happens.
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Offline SirLinksALot

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Re: Blowout jobs growth of 250,000 bolsters Trump, GOP before elections
« Reply #4 on: November 02, 2018, 03:04:05 pm »
For those interested, here is how the site, ZERO HEDGE broke it down:

Breaking down the jobs by category, in October, job growth occurred in health care, in manufacturing, in construction, and in transportation and warehousing. However, the overall breadth of job gains was narrow, with one in six new hires going to the leisure and hospitality industry where wages are low.

Health care added 36,000 jobs in October. Within the industry, employment growth occurred in hospitals (+13,000) and in nursing and residential care facilities (+8,000). Employment in ambulatory health care services continued to trend up (+14,000). Over the past 12 months, health care employment grew by 323,000.

Employment in manufacturing increased by 32,000. Most of the increase occurred in durable goods manufacturing, with a gain in transportation equipment (+10,000). Manufacturing has added 296,000 jobs over the year, largely in durable goods industries.

Construction employment rose by 30,000 in October, with nearly half of the gain occurring among residential specialty trade contractors (+14,000). Over the year, construction has added 330,000 jobs.

Transportation and warehousing added 25,000 jobs in October. Within the industry, employment growth occurred in couriers and messengers (+8,000) and in warehousing and storage (+8,000). Over the year, employment in transportation and warehousing has increased by 184,000.

Employment in leisure and hospitality edged up in October (+42,000). Employment was unchanged in September, likely reflecting the impact of Hurricane Florence. The average gain for the 2 months combined (+21,000) was the same as the average monthly gain in the industry for the 12-month period prior to September.

Employment in professional and business services continued to trend up (+35,000). Over the year, the industry has added 516,000 jobs.

Employment in mining also continued to trend up over the month (+5,000). The industry has added 65,000 jobs over the year, with most of the gain in support activities for mining.

Offline SirLinksALot

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Re: Blowout jobs growth of 250,000 bolsters Trump, GOP before elections
« Reply #5 on: November 02, 2018, 03:05:12 pm »

Offline SirLinksALot

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Re: Blowout jobs growth of 250,000 bolsters Trump, GOP before elections
« Reply #6 on: November 02, 2018, 03:06:12 pm »

Offline thackney

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Re: Blowout jobs growth of 250,000 bolsters Trump, GOP before elections
« Reply #7 on: November 03, 2018, 02:03:07 am »
I don't look at the unemployment rate as an indicator of how good the labor market it. I look at the LABOR FORCE PARTICIPATION RATE.

Is it up or down? if the former, by how much? last I looked at it, despite the 3.8% unemployment rate, the participation rate hasn't budged.


So if job pay and investments goes up and people retire earlier, that is a bad thing?
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