Speaking of making America great again, President Trump has all the reasons in the world to be happy: nonfarm payrolls for November grew by 228,000,beating all expectations , while the unemployment rate held ground at 4.1%. While wage growth was relatively disappointing, with hourly earnings growing by only 2.5% annualized, according to a Friday report via the Labor Department, U.S. economy continues to hum along.
The most jobs gains in November came in professional and business services, manufacturing and healthcare. With more Americans working than ever, unemployment is at a 17 year low and 2.2 million jobs have been created since President Trump was elected. Moreover:
The Hispanic unemployment rate dropped to 4.7% – the LOWEST in the history of the United States. This Administration and @realDonaldTrump are working hard to create opportunities for all Americans…and we are just getting started! 🇺🇸 #MAGA #JobsReport https://t.co/MvPOrIqdXI
— Ivanka Trump (@IvankaTrump) December 8, 2017
Talk about promises kept…the revival of American manufacturing is staggering. In the ADP report 40,000 new manufacturing jobs were created in November the highest number ever for the report (back to 2002).
Talk about #winning
— Charles V Payne (@cvpayne) December 6, 2017
As Business Insider puts it, job reports literally crushed expectations , even if wage growth was slower than expected. Weak wage growth can be regarded as an indicator that a large number of Americans either are looking for a full time job and can’t find one (only part time jobs), or they’re still not looking for jobs, as the labor force participation rate stands at 62,7 percent since October.