The Trump economy rolls on.
AP Photo/Matt Rourke
As the old saying goes, the dogs bark but the caravan rolls on. In the midst of the never-ending impeachment circus, and the release of the long-awaited DOJ inspector general report on the FBI’s nefarious attempts to undermine the presidency of Donald Trump, the Department of Labor released the monthly jobs data last Friday.
Prior to the release of the jobs report, the experts told us to expect that the U.S. would add 180,000 jobs in November – a good number to be certain but nothing to stop the presses. Then the number came in. It was 266,000 jobs added in November – nearly half again better than what the “experts” expected. That did stop the presses.
266,000 is a great number, but it’s a top line number and like most top line numbers, it tells only part of the story. You find the real goodies by drilling down. So it is with the November jobs report and here’s just a taste.
Nearly a third of the jobs created in November – 54,000 to be precise – were manufacturing jobs. You might recall that the prior administration was at some pains to tell us that we must simply accept the fact that American manufacturing jobs are an anachronism – a thing of the past. We were told that the desire for a robust manufacturing sector was little more than nostalgia for an age gone by. Get over it, they said. Candidate Donald Trump said otherwise and voters in Pennsylvania, Michigan and Wisconsin listened.
But wait, it gets better. According to the November figures, wage growth exceeded three percent for the 16th consecutive month. That’s a mark attained only three times total in the entire eight years of the Obama presidency. And lest you fall prey to the old lefty refrain that the economy is only benefiting those at the top, listen to this. Blue collar wage growth exceeded white collar wage growth in November. Non college grads’ wage increases eclipsed those of college graduates.
The November numbers were good news for minority voters. As of November, Hispanic joblessness has been under five percent for 20 straight months. African-American joblessness continues to clock in at the lowest levels ever recorded.
Consumers, as we all know, control about 62 percent of GDP and all of this drill-down data translates into a very sunny consumer outlook. In November, the Michigan survey of consumer sentiment registered above 95 for the 30th month of the last 35.
These numbers are unbeatable and the Democrats know it. With numbers not as good as these, Ronald Reagan took 49 states in 1984. Nancy Pelosi was around in 1984. She remembers what happened to poor Walter Mondale.
The Democrats aren’t stupid. They understand that they have little chance of removing Donald Trump from office via impeachment with evidence that is so weak in the face of economic data that is so strong. But it’s all they have.
And so the dogs of impeachment continue to bark – even as the caravan rolls on.
https://www.forbes.com/sites/chuckjones/2019/02/13/6-reasons-trump-did-not-inherit-a-mess-from-obama/
Sort of reminds one of a high school basketball game, when the trailing team starts intentionally fouling in the last minute, trying to delay the inevitable, hoping you’ll miss your free throws…
Meanwhile, the MSNBC headline is, “Will a struggling economy hurt Trump in 2020?”
They are hoping for a struggling economy!
That WAS (and remains) a question in 2019, with 2020 GDP forecast below 2%.
Facts don’t matter to democrats, they want the truth, according to Joe. They believe if you say something enough times with enough conviction it must be, or becomes, true. If you are continually bombarded with the same mantra you begin to follow said mantra. Thus, the Democrats, aided by the MSM and academia, have succeeded in creating an entire society of followers of socialist (humanitarian) beliefs. The cries are all the same, and have been heard since FDR and his programs to end poverty. To point out that Republican policies are responsible for growth of the economy and increased feelings of self-worth and well-being, and Democratic policies are responsible for growth of welfare is futile. Most liberal democrats are either not subject to the problems associated with their ideas or they are the overwhelming majority of recipients of the programs themselves. The fact they are never held accountable for their failures is the reason they continue to repeat them. Federally guaranteed student loans led to millions of dollars of debt, and their answer is to just forgive the debt. Try that with the electric bill, the groceries, at the gas pump, etc and see what happens. The war on poverty has had NO success at reducing poverty, only increasing the number of impoverished. They would rather pass out fish than fishing poles. They don’t want an America filled with proud survivors, free thinkers, builders and makers, with real values. They want one full of sheep that must be tended over and “protected from harm” and dependant on the shepherd for guidance and survival. However, as any shepherd worth their salt knows, the size of your flock can get out of control, and you can no longer feed, protect or control them. I have read several of your archived columns from before Trump was elected. You pointed out where we were and where we needed to be headed. It was indicated the candidates were capable of either leading the way or staying course. Trump was only an anomaly, long-shot, imposter, blowhard reality tv star with no chance to win in most conversations. I wouldn’t bet against him then or now.
How can Steve Forbes continue to let that lefty fake news rag exploit his good name?
I’m 72 and I’m not retired and I ENJOY working. I started a mail order business while still in junior high. In 1977 I opened my first retail store, while continuing mail order. We got up to 8 stores, then sold them because we knew they wouldn’t be profitable when Obamacare took hold. We switched to internet sales where the overhead was lower and we did better than with the stores, good but not spectacular. Then Donald Trump came along. When Trump became president, we had 90 employees. We’ve added 25 more in the three Trump years. The business tax cut helped us expand–buy a new 16-ft. Ford box truck, hire more people, increase pay, expand our product line, buy another much-need warehouse. And in the process we created more job opportunities. Contrary to what Obama might think, I built my business, with the help of my wife and son and all the talented and dedicated people who work for me. For most of our 40-plus years as a corporation, I saw government impede my ability to create new jobs. Donald Trump has changed that and for what he has done and is doing, I am most grateful.