Good day all. We have some good news out there. The July jobs report is out and it’s very good. More jobs were created then the “Experts” expected.
To begin with, the United States created 209,000 new jobs. The economy was expected to create only 189,000 new jobs. According to CNBC:
The U.S. economy continued a strong summer, adding 209,000 jobs in July while the unemployment rate fell to 4.3 percent, the lowest since March 2001, according to a government report Friday.
Well, there is one person I know who is still looking for a job. That would be…me.
The number of employed Americans hit a new high of 153.5 million thanks to a surge of 345,000. The employment-to-population ratio also moved up to 60.2 percent, its highest level since February 2009.
And, who was in office back then? Wait a minute, don’t tell me, it will come back…
“This is an unambiguously positive jobs report, as it suggests that consumers will have the wherewithal to increase spending (with solid job gains and faster wage growth) and that inflation may be slowly pushed higher by tighter labor and product markets,” said David Berson, chief economist at Nationwide.
To top things off, the Trade Deficit was down as well. Here’s a few details on that from ABC News:
The U.S. trade deficit narrowed in June as exports hit the highest level in 2 years. The Commerce Department said Friday that the trade gap slid 5.9 percent in June to $43.6 billion.
Exports of goods and services rose 1.2 percent to $194.4 billion, the highest amount since December 2014 on higher foreign demand for American soybeans, computer accessories and other products. Services exports reached a record $65.4 billion.
I’m not going to dig into this, there are others far better qualified then I am. I do suspect that some of this is due to America starting to become a net energy exporter again for the first time in decades. Still, we have a long way to go to clean up the mess caused by the previous four administrations. Still, thanks to President Trump, and with no thanks to the swamp dwelling members of the Beltway Uniparty, we are beginning to make headway.
Thatisall
~The Angry Webmaster~
[yasr_visitor_votes size=”large”]
