Thursday, April 06, 2017

Under Trump, joblessness at 17-year low

"New applications for U.S. unemployment benefits recorded their biggest drop in nearly two years last week, pointing to a further tightening in the labor market," Reuters reported in the lead paragraph of its story today.

But the real story was in the final paragraph:
"Thursday's claims report also showed the number of people still receiving benefits after an initial week of aid decreased 24,000 to 2.03 million in the week ended March 25. The four-week moving average of the so-called continuing claims fell 7,750 to 2.02 million, the lowest level since 2000," Reuters reported.
Donald Trump, take a bow.



President Trump has brought capitalism back after eight years of Marxism.

Americans are confident again.

Ford, Fiat-Chrysler, GM, Toyota, and a host of other car makers are investing billions in American plants -- bringing back all those jobs the Marxist members of the media said were not coming back.

So are those coal mining jobs the experts said were permanently lost:
West Virginia coal industry executive Mike Grose knows fake news when he sees it. And the headlines claiming that President Trump's new executive order to dismantle clean power rules won't revive mining employment were Exhibit A.
"It's growing, a lot better than it ever was," said Grose, owner of Superior and Elite Coal Services, a mining employment firm. "Once Trump was elected, I have increased staff 20-fold. Once he was elected, it went through the roof."
From his office in central West Virginia, where he connects miners to several East Coast companies, Grose said that in anticipation of a Trump victory many mine operators readied for a hiring blitz. Smaller companies have begun to grab those that went bankrupt when former President Barack Obama targeted them with his Clean Power Plan.
Barack Obama declared War on Coal in 2008.

He lost.

The reason is Donald Trump. He believes in coal. The only hat he wore on the campaign trail that was not his was a miner's helmet when he spoke at a rally in Charleston, West Virginia.

President Trump also believes in capitalism. His lazy and intellectually lethargic predecessor believed in a centrally planned Marxist economy. While Obama blew trillions on stimuli, quantitative easing, and entitlements (the latter nearly doubling the national debt), Donald Trump is getting companies to invest, not taxpayers.

Trump started working on November 9, not taking a vacation. Why would he? He had just spent the last year-and-a-half running. He could not wait to be president.

The experts said the stock market would tank. It soared.

That 17-year low in the number of people seeking unemployment benefits comes despite a 16% growth in the nation's population from 2000 to 2017. Adjusted for population growth, this may be an all-time low.

From Reuters:
The labor market is currently near full employment.
Economists polled by Reuters had forecast first-time applications for jobless benefits falling to 250,000 last week.
A Labor Department analyst said there were no special factors influencing last week's claims data. Claims for Louisiana were estimated.
The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 4,500 to 250,000 last week.
Last week's claims data has no bearing on March's employment report, which is scheduled for release on Friday. Claims rose during the survey week for March's non farm payrolls, suggesting some moderation in the pace of job growth after two straight months of employment gain in excess of 230,000.
Look for Fake News to credit Obama, even though what is boosting the economy is the rolling back of everything Obama did.




The original."Trump the Press" chronicled and mocked how the media missed Trump's nomination.

It is available on Kindle, and in paperback.



Then came "Trump the Establishment," covering the election, which again the media missed.

It is available on Kindle, and in paperback.

Autographed copies of both books are available by writing me at DonSurber@GMail.com

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2 comments:

  1. I trust gadfly will cry bitter, bitter tears over this.

    ReplyDelete
    Replies
    1. And we will all drink his bitter tears and find them tasty and sweet!! MAGA!!!
      -Fred

      Delete