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Friday, June 01, 2018

NYT: "We Ran Out of Words to Describe How Good the Jobs Numbers Are."

The New York Times said in a headline today, "We Ran Out of Words to Describe How Good the Jobs Numbers Are."

I haven't.

3.8% unemployment. It has been this low only once (April 2000) since December 1969.

"Nonfarm payrolls rose a seasonally adjusted 223,000 in May," the Wall Street Journal reported.

The rising tide of economic growth raises all boats.

"Average hourly earnings ticked up to a 2.7% from a year earlier — and raises were even stronger for nonmanagers," the Journal reported.

Wages now average $26.92 an hour. That works out to $56,000 a year.

Since we elected Donald John Trump as president, the stock market has soared by more than 30%.

"The unemployment rate for women, 3.6% last month, was the lowest since 1953, when far smaller share of women sought jobs. The jobless rates for blacks, Latinos and those without high-school diplomas are trending near record lows," the Journal reported.

60.4% of adults have jobs.

Here are the magic wands that President Trump waves to bring back those jobs that Barack Obama insisted were not coming back.

Unnecessary regulations are going, going, gone.

Unfair trade deals are being renegotiated. Those who refuse to budge face tariffs on their exports.

Usurious corporate taxes have been lowered to the European Union average of 21% -- and our frenemies in Western Europe are steaming.

And Trump has reduced the federal payroll by 24,000.

The bureaucracy shrinks. The economy expands. Funny how that works.

We added 6,000 mining jobs in May, for a net gain of 91,000 since Trump's election.

Manufacturing had a net gain of 18,000 jobs, for a net gain of 259,000 jobs in the past year.

And Neil Irwin, a senior economics correspondent for the New York Times, ran out of words to describe this.

"The real question in analyzing the May jobs numbers released Friday is whether there are enough synonyms for good in an online thesaurus to describe them adequately," Irwin wrote.

"So, for example, splendid and excellent fit the bill. Those are the kinds of terms that are appropriate when the United States economy adds 223,000 jobs in a month, despite being nine years into an expansion, and when the unemployment rate falls to 3.8 percent, a new 18-year low."

Before the election, Irwin wrote things such as, "Donald Trump's Economic Nostalgia," which pooh-poohed the economic plans of a billionaire.

Today, Irwin wrote, "Then there are other thesaurus synonyms for good that we don’t normally use in reference to employment numbers, but which are apropos this month. For example, congruous, in the sense that the various pieces of the report align with each other: Employers are creating more jobs, leading more people to work and fewer people to be unemployed, and leading wages to rise."

By Jove, I believe someone just discovered capitalism.

###

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Trump the Press covers the nomination.

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Fake News Follies of 2017 covers his first year as president.

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14 comments:

  1. “We Ran Out of Words to Describe How Good the Jobs Numbers Are."

    Here’s a dime, son. Go buy you and your NYT buddies a better education.

    ReplyDelete
  2. Summer of recovery. Without a bullshit half trillion dollar spending bill all going to cronies.

    ReplyDelete
    Replies
    1. Thank you, Doc. Tired of this winning yet? I sure ain’t.

      Delete
  3. 9 year expansion...in what universe?

    ReplyDelete
    Replies
    1. The one where we began "expanding" 6 months after Zippy was sworn in.

      Yeah, Evan Thomas lives there.

      Delete
  4. The word Trump never appears in this piece. The NYT will soon go to the Rhodes lie about Obama claiming he set it up. I myself believe R wrote this after the economy started to accelerate under DT. Shit stinks forever.

    ReplyDelete
  5. "My God, I thought. What have we become?", what they're really thinking.

    In 10 years, we went from being all socialists now to being all capitalists now.

    ReplyDelete
  6. Obungler is claiming he set the stage for this booming economy. Yes, he did, by implementing all of the regulations that Trump is getting rid of. - GOC

    ReplyDelete
  7. The NY Times ran out of words before they got to these four: "Thank you President Trump."
    -TK

    ReplyDelete
  8. Before we pop too many champagne corks, let's keep in mind that Bill Clinton (natch) and Robert REIICCHH jiggered the unemployment rate in the 90s to make it look lower than it was. (John Crudele at the NY Post is the only journalist who has covered this.) The U-6 rate -- a much more accurate look at the workforce - is 7.6%. That seems closer to the truth to me.

    ReplyDelete
    Replies
    1. The U-6 unemployment rate spiked around 17% in Dec 2009, and was 9.4% when President Trump took office. This is why Teh Zero never talked about it.

      7.6% seems to be yet more winning.

      Delete
  9. The most important figure was given by Don:

    60.4% of adults have jobs.

    This, if it is of adult American Citizens, is the single most important economic number. Sort of like Top Line Revenue in an income statement. There is little fudge about looking or not for a job; whether one feels underemployed (college grads at Starbucks) or not, how disabled or partially abled one is.

    Small fudge in citizens or not; legal workers might be better -- illegals should not be included.

    Reps in 2018 - Trump 2020.

    ReplyDelete
  10. This poor guy Irwin, surely he will never eat lunch in this town again? Yet he had layers of editors and fact-checkers, so it has the Sulzberger/Slim imprimatur. What could have gone wrong?

    ReplyDelete