“The US jobs market has been described as the backbone of
the recovery – 82 months of continuous jobs growth with unemployment
hitting 4.5% – the lowest since 2007. However, the perceived
strength in jobs creation is at odds with other economic indicators.
President Trump ran on a campaign that repeatedly touted “jobs, jobs,
jobs.” His emphasis on jobs creation and bringing employment back to
America struck a chord with voters. Trump’s election in itself
contradicts the popular narrative that the US jobs market is tight and
robust. Wages, disposable income, and real earnings growth along with
low productivity and overall slow economic growth all challenge the
BLS’s jobs numbers and thus Wall Street’s perception that the jobs
market is tight.
Since the monthly jobs report
is eagerly awaited as the most important piece of economic data for
financial markets, it warrants a deep dive in order to understand what
is going on under the hood. Before we delve into the data, here are some
highlights of our findings.
Of course when the so called Progressive scum were holding the staff, all was well and coming up roses...So they said.