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The U.S. Labor Department reports the jobs market was on fire in February – posting the largest single month gain since 1983. This brings the unemployment rate down to 4.1% which is a 17 year low. Naturally, investors applauded sending the Dow Jones Industrial Average up more than 440 points yesterday.
This news will also slow down the FED’s notion of cranking interest rates up too punitively – at least for the time being. As reported in the Wall Street Journal, some 800,000 Americans were added to payrolls last month with the seasonally adjusted non-farm rate of 313,000 new jobs. And while a typical worker’s pay didn’t rise all that much the moderate increase of 2.6% is likely to serve as a check on inflation.
Some Things are Worth Repeating
How many times did we hear candidate Trump say he would be the “biggest jobs president ever?” To be more specific he said, “I will be the greatest jobs president God ever created.” Let’s give it a brief reprise just to irk the left:
So, what we have here is a man who says what he’s going to do, does it and all the while keeps getting hammered day in and day out by the socialist media and their cohorts. It’s quite mystifying and rather wretched that those on the left can’t celebrate this fine news for the country. One must wonder what those on the left want America to look like? Cuba? Venezuela?
Socialism and Communism Brings Abject Poverty
Venezuela is in such a deep economic crisis anti-government protests have turned violent and have had to be put down by the government. Headlines like “Eating bread has become a luxury in Venezuela” have graced the pages of the Havana Times. (Yes, we realize the Havana Times is a free press publication – but still!) In 2016 it cost $150 to buy a dozen eggs in Nicolás Maduro’s republic. That pretty much says everything you need to know about the efficacy of socialism.
Perhaps the 44% of American millennials that say they’d prefer to live in a socialist country, as recently cited by Liberty Nation’s Andrew Moran here, will give that a think. However, that’s only possible if we stop indoctrinating our young people with far-left propaganda and teach them to think for themselves.
POTUS Keeping Promises
Meanwhile, back in the lower 48, it’s worth taking a look at another of candidate Trump’s campaign promises – or in this case his challenge to the black community. Remember when he dared blacks to take a step off the Democratic plantation and join him because, “What the hell have you got to lose?” Apparently, the greatest loss they have experienced thus far under the Trump administration is that of an unemployment check in exchange for a J-O-B.
Back in December, the unemployment rate for blacks dropped to an all-time low of 6.8%. In February it ticked up one-tenth of a point to 6.9%. Oh, and Hispanics and whites and Asians are benefiting as well according to this Labor Department graph:
Labor Force Statistics from the Current Population Survey – Blacks 16 years & over
The American economy is far from out of the woods even with all the gains that have been made in the last year. As well, there is still plenty of room for more jobs to be created in a number of business sectors.
But we do know one thing: If the businessman in the Oval Office has his way, the fire that has been lit under the nation’s economic engine will be fueled any way he can find to stoke it. Donald J. Trump has clear objectives, and no matter what the leftists throw at him, he’s bound and determined to be the “Greatest Jobs president God ever Created.”
And that, my friends, should be music to the American worker’s ears.