U.S. Economy Added 304,000 Jobs in January; Unemployment at 4%

Once things finally bottomed, there was no place for the economy to go except up. Obama didn't screw it up. I give him credit for that but taking credit for Trump's economic success was pretty low on his part.

 

Yeah, overall trend keeps trucking along at about the same rate regardless of who's in the Oval Office, with the exception of, say, the occasional recession. Economists will cheer about the short-term effects of tax cuts and deregulation and they will boo idiotic protectionism like Trump's unconstitutional tariffs, and those both have some impact, but they don't really reverse the flow of the overall trend.

 

What economic trend substantially changed between Trump and Obama? Please, name one. Again, I think it is a mistake to give Obama credit, but it is just as "low" for Trump and his followers to give Trump the credit, and at least the Obama supporters get the correlation part right -- i.e., at least their argument fits the math, even if they get the cause wrong.

 

Good news. The more the better. It increases competition which drives up wages.

 

nope, the first graph is. The rest are from the BLS.

You can not like the facts all you want, but that won't make them go away.

 

They are from BEA - That is the Department of Commerce, Bureau of Economic Analysis not BLS, Bureau of Labor Statistics, the most accepted source of labor statistics.

 

For one, the GDP. Obama said the "New Normal" would be like 2.0 at Best and to get used to it. Trump smashed that with 4.0 in his first year.

 

Yet November and Decembers job numbers were revised downward by 70,000???How can they possibly be off by that many??Which village idiot is doing the counting??

 

I feel like I've been over this at least half a dozen times so far, but here we go again: whoever gave you those numbers, you need to have a word with them. They are trying to deceive you.

The "new normal" Obama was talking about was ANNUAL GDP growth rate. No, Trump did not "[smash] that with 4.0 in his first year." We had 4% GDP growth rate for one QUARTER under Trump. A quarter is not a year. Four quarters are a year. That's literally why they are called quarters. We surpassed that kind of quarterly growth rate under Obama. The whole "let's conflate quarterly and annual GDP" was a popular, deceitful tactic early in the Trump presidency, but it crumbles under even a shred of intelligent scrutiny . . . he's just counting on his base being uninterested in the actual facts. Bragging that you had a quarter of GDP growth rate that was better than someone else's annual GDP growth rate (something I think you can say about literally any two presidents) is like saying you made a better grade in your best class than someone else made for their entire GPA . . . see how stupid that sounds? That's what Trump's "economic" supporters are doing. By the way, if you want to compare quarter to quarter, the highest quarter of GDP growth rate we had under Obama was 5.1%. For those taking score, 5.1 > 4. Also, not that it matters, but that 4% quarter was during Trump's second year, not his first as you claimed.

Also, the GDP has not broken a TREND (which is what I asked you for) between Obama and Trump. Here's what the GDP looks like in real dollars over time: https://fred.stlouisfed.org/series/GDPC1

No, there is no major change in GDP trend between Obama and Trump, as anyone who can even vaguely read a graph can see.

So, I asked you about any economic trend that significantly changed between Obama and Trump. You said GDP and you've been proven wrong about that. So what's next?

 

Your could try reading #17 for some insight. It is not unusual for numbers to be revised.

 

nope




as you can clearly see, it's from the BLS.

 

Great news! The Trump economy is booming and roaring on! I am a little nervous about here on out, with Nancy back as Speaker, I fear we will have a turn back to when she was Speaker last...and double digit unemployment...but hopefully with Trump and the GOP gaining more seats in the Senate we can push back on that

 

trump has not had a 4.0 annual GDP

 

Obama's average annual growth rate was 1.48% during Obama's business cycle the weakest of any expansion since at least 1949, he's the only President to have not had even one year of 3% GDP growth.

 

Geez, he's consistently had quarters well over 3% and did have a 4% quarter. He's only been in office for 2 years.

 

right. the trend has continued for 9 years, as I showed you. Your claim of trump "smashing" obamas GDP is demonstrably false. Trump has never had an annual GDP anywhere close to 4%.

 

Winning! the results are in: obama sucked!

 

Refer again to the graph I provided you of real GDP over time.

Calling our business cycles under Obama the weakest also makes no sense when you consider we had our longest period of growth while he was in office. Also, have we had 3% annual GDP growth under Trump yet? I don't think we have.

 

Neither deserves credit for the numbers, but anyone who is giving them credit should actually look at the data before claiming anyone sucks. Job rates were rising at about the same rate well before Trump took office.

 

LOL! The obama numbers are cooked.

 

They're the same numbers, measured the same way, from the same source. Try again . . . or at all.

 

You just hate good news don't you? Well here is some more.

In CBO’s projections, annual growth of the employment cost index for wages and salaries of workers in private industry averages 3.5 percent between 2019 and 2023, slightly more rapid than its 3.3 percent pace in 2018 and considerably more rapid than the 2.0 percent average from 2009 to 2017.

 

All three charts are different sources. Some are labeled CBPP calculations from..., others are labeled BLS Bureau of Economic Research (BEA). BEA is a division of the US Commerce Department. The data looses credibility once it has been altered, especially by a far left progressive source.

 

lol, no...................http://www.politicalforum.com/index...employment-at-4.550207/page-2#post-1070177741

 

IOW, "reporting" on the dire consequences of the "shutdown" was Fake News.

And where did this Fake News article go?

Why This Jobs Report Will Be a Mess - The New York Times
https://www.nytimes.com/2019/01/31/business/economy/jobs-report.html