Blowout Jobs Numbers for October & Historic Black Employment

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The Trump economy beat all expectations in October, adding 128,000 jobs despite the effects of a since-settled General Motors strike. If the numbers are adjusted to consider the strike, there were over 300,000 jobs created.

August’s job numbers were revised to 219,000 from 168,000.

President Donald Trump tweeted the good news to followers.

“Wow, a blowout JOBS number just out, adjusted for revisions and the General Motors strike, 303,000. This is far greater than expectations. USA ROCKS!” Trump tweeted, appearing to total all of the increases announced and citing the GM strike and the loss of 20,000 temporary Census workers whose period of employment expired.

The so-called gloom and doom experts predicted no more than 75,000 jobs. The ‘experts’ at MarketWatch on Thursday told its readers that the report would be “a big dud” due to the auto workers’ strike pulling the numbers down.

The Dow futures index up 250 points on the news — so far, CNBC reported.

The Dow Jones Industrial Average traded 252 points higher, or 0.9%. The S&P 500 gained 0.8% to a fresh record high. The Nasdaq Composite also hit an all-time high, climbing 0.8%.

Wages rose 2.9% for the year. The jobless rate for Hispanics also hit a new record low. So the President is improving their lot in life because he hates them? Will Barack Obama and Joe Biden take credit? They did recently.

Women and minority women are also doing better.

HISTORIC BLACK EMPLOYMENT

The President hates Black Americans so much that he’s putting them all back to work.

The unemployment for Black Americans is the best in recorded history at 5.4%, according to the Bureau of Labor Statistics.

The nation’s overall unemployment rate nudged up to 3.6 percent, up from 3.5 percent in September, the rate is still historic and remains near levels not seen in 50 years.

The total employment level climbed with 241,000 more people coming back to the workforce for a total of 158.5 million Americans employed in October, CNBC reported.

Some commentators said the jobs data showed that regardless of other indicators, the economy remains strong, even according to MarketWatch.

“Over the past decade, the labor market has demonstrated surprising strength many times even as other measures of the economy cast a shadow of a doubt. It’s doing so again,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors.

“Job creation is firm when you strip out the effects of strikes at GM and a drop in census employment,” said Charles Seville, co-head of Americas Sovereigns at Fitch Ratings.


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