Payrolls smash estimates with gain of 250,000, wage gains pass 3% for first time since recession

Discussion in 'Economics & Trade' started by US Conservative, Nov 2, 2018.

  1. US Conservative

    US Conservative Well-Known Member Past Donor

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    • Nonfarm payrolls increased by 250,000 for October, well ahead of Refinitiv estimates of 190,000.
    • Average hourly earnings increased by 5 cents an hour for the month and 83 cents year-over-year, representing a 3.1 percent gain, the best pace since 2009.
    • The unemployment rate stayed at 3.7 percent, the lowest since December 1969.
    • Job growth blew past expectations in October and year-over-year wage gains jumped past 3 percent for the first time since the Great Recession, the Labor Department reported Friday.

    • Nonfarm payrolls powered up by 250,000 for the month, well ahead of Refinitiv estimates of 190,000. The unemployment rate stayed at 3.7 percent, the lowest since December 1969.

      The ranks of the employed rose to a fresh record 156.6 million and the employment-to-population ratio increased to 60.6 percent, the highest level since December 2008, according to the department's household survey. That headline jobless number stayed level even amid a two-tenths of a percentage point rise in the labor force participation rate to 62.9 percent.
      Those counted as outside the labor force tumbled by 487,000 to 95.9 million.

      But the bigger story may be wage growth, which has been the missing piece of the economic recovery. Average hourly earnings increased by 5 cents an hour for the month and 83 cents year over year, representing a 3.1 percent gain. The annual increase in wages was the best since 2009.
    • https://www.cnbc.com/2018/11/02/us-created-250000-jobs-in-oct-vs-190000-jobs-expected.html
    This is outstanding news, particularly heading into the holiday season.

    The Trump economy is booming.
     
    Last edited: Nov 2, 2018
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  2. Zorro

    Zorro Well-Known Member

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    Nice pre-election report!

    The choice is simple, More of this amazing Trump Economy or go back to Bush/Obama Stagnation?

    Credit Supply-Side Trumponomics For Revived Wage, Productivity Growth
     
  3. TheGreatSatan

    TheGreatSatan Well-Known Member

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    Democrats called it managed decline. The new normal. They all said this economy was impossible. Trump would need a magic wand to do what he did.
     
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  4. flyboy56

    flyboy56 Well-Known Member

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    Last edited: Nov 2, 2018
  5. s002wjh

    s002wjh Well-Known Member

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    looking at this graph its obvious, the unemployment rate start decline since 2010, and the slope is same under Obama or trump. meaning it has nothing to do with president but everything to do with economy recovery as the norm.

    basically under Obama or trump hiring per monthly is the SAME. for example under Obama there are multiple time when hiring exceed 300k, wage increase 3%+

    now the question is if trade war continue and fed rate hike, whats gonna happen in 2019



    https://www.nytimes.com/2018/11/02/business/economy/jobs-report.html?action=click&module=Top Stories&pgtype=Homepage

    Monthly Change in Jobs
    2013
    2014
    2015
    2016
    2017
    2018
    thousand
    +300
    200
    100
    0
    +250,000
    October
    [​IMG]

    Source: Bureau of Labor Statistics


    Unemployment Rate
    %
    10
    5
    0
    3.7%
    ’07
    ’08
    ’09
    ’10
    ’11
    ’12
    ’13
    ’14
    ’15
    ’16
    ’17
    ’18
    [​IMG]

    Year-Over-Year Wage Growth
    %
    +4
    3
    2
    1
    0
    +3.1%
    ’08
    ’09
    ’10
    ’11
    ’12
    ’13
    ’14
    ’15
    ’16
    ’17
    ’18
    [​IMG]

    Source: Bureau of Labor Statistics
     
    Last edited: Nov 2, 2018
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  6. Zorro

    Zorro Well-Known Member

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    That's right!

    [​IMG]
     
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  7. s002wjh

    s002wjh Well-Known Member

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    look at NYT graph, clearly shows the job creation etc is same through out the years since 2010
     
    Last edited: Nov 2, 2018
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  8. FreshAir

    FreshAir Well-Known Member Past Donor

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    yet the national debt is still setting new record highs under Trump
     
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  9. US Conservative

    US Conservative Well-Known Member Past Donor

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    Gosh I wonder if this is relevant going into the midterms?
    [​IMG]

    [​IMG]
     
  10. TheGreatSatan

    TheGreatSatan Well-Known Member

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    The only good economics that happened during Obama was because of the fracking boom which he tried to stop.
     
  11. ButterBalls

    ButterBalls Well-Known Member

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    All this winning is costing me a fortune in nausea meds :(
     
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  12. s002wjh

    s002wjh Well-Known Member

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    fracking doesn't contribute that much economy during that time.
     
  13. ButterBalls

    ButterBalls Well-Known Member

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    So as it was with Mr. Obatard. You just hate the idea of GETTING SOMETHING for the money spent is all :)
     
  14. Zorro

    Zorro Well-Known Member

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    POLL: TRUMP APPROVAL Spikes to 51% just before election...

    Trump's Job Creation is 26% stronger than Obama-The-Unfortunate's.

    [​IMG]

    Over Trump's first 21 months the number of employed has grown by 4,486,000

    Over Obama's final 21 months, it only grew by 3,571,000

    And with the best wage growth in nearly a decade, likely explains why Trump is so popular right before the Midterms!
     
    Last edited: Nov 2, 2018
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  15. US Conservative

    US Conservative Well-Known Member Past Donor

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    Still not tired of the winning.
     
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  16. FreshAir

    FreshAir Well-Known Member Past Donor

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    Obama was passed a economy that was Crashing, Trump **** was passed a growing economy that is still growing

    the fact is if Trump wants to take credit for the Obama jobs trend, then he has to tax credit for the debt trend that started under Bush too
     
    Last edited: Nov 2, 2018
  17. ButterBalls

    ButterBalls Well-Known Member

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    I know a bunch of folks in Williston ND that would say you haven't a clue what your talking about :)
     
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  18. ButterBalls

    ButterBalls Well-Known Member

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    Ya I keep hearing that from the left and none yet have successfully explains how any of that was corrected from his economic policy.

    BTW, maybe in the leftist world a 1.8% over a eight year period is a GROWING economy but the real truth is it's a stagnated failure in comparison to Trumptards two years :)
     
    Last edited: Nov 2, 2018
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  19. struth

    struth Well-Known Member

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    Trump and the GOP Congress continue to keep making America great again!

    If you want to be poor, and out of work, vote Dem
     
  20. Paul7

    Paul7 Well-Known Member

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    And he had the benefit of 0% interest rates.
     

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