Trump Economy adds 266,000 jobs in November

[hislegacy]

86,000 over estimates.

The U.S. Bureau of Labor Statistics reported that 266,000 new positions were added to the economy last month, far above economists' forecasts of a 180,000 gain. The unemployment rate slipped back down to 3.5%, the lowest since 1969.

 

[civilwarbuff]

The unemployment rate has not exceeded 4% this year. Wonder where they are going to find the people to fill all those jobs? Wonder if Obama ever had to wrestle with a problem like this?

 

[GoldenBoy89]

Not saying this is bad, it’s obviously good but there’s usually a spike in jobs at this time of year due to places hiring for seasonal work during the holidays.

 

[hislegacy]

Not saying this is bad, it’s obviously good but there’s usually a spike in jobs at this time of year due to places hiring for seasonal work during the holidays.

Yup and the jobs numbers Are 86,000 over the anticipated.

 

[civilwarbuff]

Not saying this is bad, it’s obviously good but there’s usually a spike in jobs at this time of year due to places hiring for seasonal work during the holidays.

doesn't appear to be when compared to last year. These numbers are seasonally adjusted to account for that.....
U.S. unemployment rate: adjusted, October 2019 | Statista

 

[Ken Rank]

Still waiting for the recession all the media pundits claimed was coming back in the summer!

 

[Halbhh]

86,000 over estimates.

The U.S. Bureau of Labor Statistics reported that 266,000 new positions were added to the economy last month, far above economists' forecasts of a 180,000 gain. The unemployment rate slipped back down to 3.5%, the lowest since 1969.

The "economy" is 130 million people working.

The president is a small effect on the margin. Like a captain of a huge boat who only has a tiny rudder that can barely turn the boat, slowly, and if no big wind is blowing against the boat, and if the other bigger rudders are happening to point mostly in the same direction as he/she tries to turn the boat.....

That type of captain can turn the boat only if they are lucky, and it's mostly not them that decides how the boat is going, most of the time.

If an iceberg is seen just ahead, it's usually too late to turn, and the captain can't do much. If that happens.

But, so far this current boat captain hasn't really harmed or wrecked the boat.

 

[civilwarbuff]

Still waiting for the recession all the media pundits claimed was coming back in the summer!

If one of the far left WH contenders get elected I suspect their desire will come true very quickly......just not under the circumstance they want.

 

[Halbhh]

Some might argue though that the gigantic deficit spending during a time of a strong economy is a classic mistake.

Like steaming ahead full speed at night in waters that could possibly have icebergs.

He might get lucky, and it not matter. Lucky so far, some would say.

I think though the main luck for these gigantic deficits is the huge desire of Chinese families to save up money, due partly to the one-child policy creating a bulge of old people with few children coming in decades very soon, causing a big need for savings.

So many people trying to save up savings means they buy our Treasury bonds at good prices for us....

In other words, the protection against these huge deficits Trump is steering us in...that protection isn't forever.

 

[Halbhh]

Still waiting for the recession all the media pundits claimed was coming back in the summer!

You might like find my post just above, #9, of interest, by what you said the other day.

 

[civilwarbuff]

Some might argue though that the gigantic deficit spending during a time of a strong economy is a classic mistake.

Like steaming ahead full speed at night in waters that could possibly have icebergs.

He might get lucky, and it not matter. Lucky so far, some would say.

I think though the main luck for these gigantic deficits is the huge desire of Chinese families to save up money, due partly to the one-child policy creating a bulge of old people with few children coming in decades very soon, causing a big need for savings.

So many people trying to save up savings means they buy our Treasury bonds at good prices for us....

In other words, the protection against these huge deficits Trump is steering us in...that protection isn't forever.

Yeah, too bad Obama ignored such advice....I mean doubling the national debt in just 8 years...WOW....that is gonna be a hard record for anyone to beat.....And he even did that without a tax cut......spend baby spend......

 

[JosephZ]

86,000 over estimates.

The U.S. Bureau of Labor Statistics reported that 266,000 new positions were added to the economy last month, far above economists' forecasts of a 180,000 gain.

45-50,000 of those job gains are from General Motors workers coming back after their strike. Also as another poster pointed out, many of those job gains are just temporary jobs for the holiday season. There are also thousands of people being hired for the 2020 census that will temporary.

The quality of the jobs is also important: The Frightening Rise In Low-Quality, Low-Paying Jobs: Is This Really A Strong Job Market?

And let's not forget the deficit in fiscal year 2019 was nearly a trillion dollars, the highest in 7 years.

So far the Trump administration has been able to ride on the coattails of the Obama administration's success, unfortunately this will eventually come to an end and we will start to reap the effects of Trump's trade wars, bad economic/foreign policies, and other poor decisions.

 

[iluvatar5150]

The unemployment rate has not exceeded 4% this year. Wonder where they are going to find the people to fill all those jobs? Wonder if Obama ever had to wrestle with a problem like this?

No, he had to wrestle with a once-in-a-lifetime recession that kicked off right before he took office.

Yeah, too bad Obama ignored such advice....I mean doubling the national debt in just 8 years...WOW....that is gonna be a hard record for anyone to beat.....And he even did that without a tax cut......spend baby spend......

It's kind of amazing how inaccurate that post is. Like... You have to try to be that wrong. It takes effort. For one thing, he did cut taxes:
Barack Obama said he's cut taxes for 'middle-class families, small businesses'

And not only is Obama's deficit not going to be a "hard record to beat", Trump is already on track to increase the debt at a rate (in dollar amounts) at least as fast - and he doesn't have a gigantic recession eating into his revenues:

https://www.cbo.gov/system/files/2019-08/51118-2019-08-budgetprojections_3.xlsx
https://www.cbo.gov/system/files/2019-05/51134-2019-05-historicalbudgetdata.xlsx

 

[Halbhh]

Yeah, too bad Obama ignored such advice....I mean doubling the national debt in just 8 years...WOW....that is gonna be a hard record for anyone to beat.....And he even did that without a tax cut......spend baby spend......

If you credit that to "Obama", then you...credit the current newly increased bigger deficits to Trump?

I'm sincerely asking you.

Is that right? You credit the recent huge new deficit increase to Trump, since you credited the previous deficits to Obama?

Here's another source, showing how deficit increases normally happen because of recessions:

 

[hislegacy]

So far the Trump administration has been able to ride on the coattails of the Obama administration's success, unfortunately

Every time I hear this, I laugh and am amazed people still believe this Democratic byline.

Mr. Obama must be one amazing President! Everything that went wrong for the first seven years was Bush's fault, now everything that is going right is because of his actions being reversed or deregulated. Remember him asking about Trump's magic wand?

Thank you for the chuckle

 

[civilwarbuff]

So far the Trump administration has been able to ride on the coattails of the Obama administration's success, unfortunately this will eventually come to an end and we will start to reap the effects of Trump's trade wars, bad economic/foreign policies, and other poor decisions.

The worst recovery EVER from a recession and Trump wants to ride those coattails.....How hillarous is that.....?
Report: Worst economic recovery since 1930s, salaries fall $17,000 short
The Worst Economic Recovery in History

 

[hislegacy]

Who knew? All you had to do is reverse the majority of Obama's regulations and business plans, reverse the taxes Obama approved for business and viola - jobs came back, the economy came back.

 

[civilwarbuff]

Is that right? You credit the recent huge new deficit increase to Trump, since you credited the previous deficits to Obama?

Yep, he is the boss. He gets the credit and the blame, goes with the job. But remember Trumps deficits included a 'YUGE' tax cut returning money to the people and businesses that get taxed so that money doesn't just disappear....Obama just simply spent his way into deficits. Big difference.....

 

[iluvatar5150]

Yep, he is the boss. He gets the credit and the blame, goes with the job. But remember Trumps deficits included a 'YUGE' tax cut returning money to the people and businesses that get taxed so that money doesn't just disappear....Obama just simply spent his way into deficits. Big difference.....

This post might even be more wrong than the last one. It's kind of staggering, really.

Where do you think money goes when the government spends it? Do you think it just vanishes?

 

[Halbhh]

Yep, he is the boss. He gets the credit and the blame, goes with the job. But remember Trumps deficits included a 'YUGE' tax cut returning money to the people and businesses that get taxed so that money doesn't just disappear....Obama just simply spent his way into deficits. Big difference.....

Actually in reality those giant 2009-2011 deficits were in a not small, but a significant portion, from tax cuts! Both more spending and tax cuts. Together.

Like now. Like 2019.

We could find out the precise ratio for you if it is of interest. (is it?) (I like tax cuts as a stimulus; as you can see above though, I don't think we need a big stimulus during a strong economy, and I think we will pay in part for these new bigger deficits, these news ones today in 2019, later in time)