The economy is great and it’s working, according to Larry Kudlow who insists he is not just being political. CNBC reported that Black unemployment is at the lowest level in history [and CNBC is no friend to President Trump]. The Fed Chair Jerome Powell said the economy is in good shape and is NOT expecting a recession!!!
Larry Kudlow said under the hood, the jobs report is excellent. In business-speak, he said we would have 3% growth if the Feds would stop slowing the growth.
The payroll is solid but not outstanding. The household survey exploded with 590,000 new jobs which is unprecedented. This is the third straight month of 373,000 average. The civilian labor force is up 571,000. That is people coming back into the labor force.
He says America is working. The average hourly earnings in the last three months added at an hourly rate is 4.2%.
Kudlow talks about that and China trade deals in this clip.
LOWEST BLACK UNEMPLOYMENT IN HISTORY
The unemployment rate for black workers fell to 5.5% from 6%, according to the Labor Department data. The previous record low of 5.9% was set in May 2018.
The left doesn’t seem happy as you would expect since Blacks are their number 1 voting base.
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The unemployment rate for black women fell to a record 4.4% from 5.2% in July. The unemployment rate for black men crept up to 5.9% from 5.8%. But the previous month’s rate was a record, so the rate is still near its historic low.
Unemployment among workers who identify themselves as Hispanic or Latino also fell in August to 4.2%, which matched a record low set earlier this year.
Minority unemployment has been tracked by the Labor Department since the early 1970’s. Both black and Hispanic or Latino unemployment numbers have traditionally been higher than white unemployment, and it remains so today. White unemployment was 3.4% in August, up from 3.3% previously. But this is the smallest gap on record between the respective unemployment rates for blacks and whites.
Overall the US unemployment rate stood at 3.7%, unchanged from the previous month.
HERE’S A POLL YOU SHOULD SEE
The latest poll of Democratic candidates and the President show low favorability all around but they show the President in the lead.
A new poll from The Economist and YouGov show the favorability numbers were low all around, but Trump climbed past the Democrats with a 43% approval in the poll taken between Sept. 1 and 3, getting a “very favorable” reaction from 29% and a “somewhat favorable” response from an addition 14% of the adult citizens polled.
By way of comparison, Biden saw only 40% with a favorable reaction, 17% having a “very favorable” response while 23% weighed in with a “somewhat favorable” reaction. Warren shared a similar fate with a total of 39% of respondents giving her a favorable vote, which broke down to 20% with a “very favorable” reaction and 19% giving her a “somewhat favorable” response.
Sanders came in 2% behind Trump but just edged past Biden with 41% of those polled giving him a favorable response, with 18% giving a “very favorable” rating and an additional 23% reacting with a “somewhat favorable” answer. That’s scary.
This is positive news for the President but he’s running against a man with signs of senility and two communists. It’s concerning that there are so many people in the country who would choose communists over a successful President. Thank the bad press, 24/7, for a lot of this.
