U.S. adds 250,000 jobs in October, wages rise at fastest pace in more than nine years

[anatta]

The rapidly growing economy generated a robust 250,000 new jobs in October, keeping the unemployment rate at a 48-year low and pushing the increase in worker pay to the highest level in more than nine years.

Economists polled by MarketWatch had forecast a 208,000 increase in new nonfarm jobs.

Yet another strong month of hiring kept the unemployment rate at 3.7%, the lowest rate since 1969.

The creation of more than 20 million jobs since 2010 and the plunging unemployment rate are also delivering higher take-home pay for workers. The amount of money the average employee earns rose 0.2% last month to $27.30 an hour, the government said Friday.

The result: The increase in pay over the past 12 months climbed to 3.1% from 2.8%, touching 3% for the first time since the end of the Great Recession in mid-2009.

[anatta]

Big picture: The strongest labor market in decades is powering a U.S. economy that’s likely to set a record for the longest expansion ever by next year. Steady work and rising incomes are giving households the purchasing power to keep the good times going.

The surge in hiring, however, does have a downside.

A shrinking pool of available labor made worse by an influx of retiring baby boomers is forcing companies to pay higher wages and benefits, for one thing.

These and other shortages could push inflation even higher, cap stock-market gains and goad the Federal Reserve into raising interest rates enough to slow the economy.

Such worries lay in the future, however. For now there’s little about the economy about which to complain.

What they are saying?: “As has been the case for a while now, there really aren’t any holes to poke in these numbers,” said Thomas Simons, senior money market economist at Jefferies LLC.
https://www.marketwatch.com/story/us...ars-2018-11-02

#MAGA

[anatta]

GDP Growth

In the first three quarters of 2016, quarterly GDP growth was an anemic 1.5%, 2.3% and 1.9%. This year, quarterly GDP growth has been a far more robust 2.2%, 4.2% and 3.5%.
Jobs and Unemployment

There are 4.3 million more private sector jobs than there were two years ago, according to the Bureau of Labor Statistics.

There are 1.8 million fewer unemployed. The unemployment rate is now 3.7%, down from 4.9% — where it had been stuck throughout 2016.

Among blacks, the unemployment rate dropped from 8.3% to 6%, and among Hispanics it's now 4.5%. It was 5.7% two years ago.

The average time people are unemployed is now 24 weeks, down from 27 weeks just before the 2016 elections.
Household Incomes

Take-home pay for most people is higher today than it was two years ago, for the simple reason that Republicans cut income taxes. Those savings started showing up when the new withholding schedules went into effect in February.

And, after stagnating for all 2016, median household incomes started to steadily rise. As a result, median household income today is 4% higher than it was in November 2016 — after adjusting for inflation — according to Sentier Research.

At $63,007, median household income is at all-time highs.
Investors

Even with the recent volatility in the stock market, the Dow is up by almost 42% since early November 2016.

The broader S&P 500 index is up 31%. And the Nasdaq Composite index is up 47%.
Optimism

People are also far more optimistic today than they were two years ago. The Consumer Confidence Index was at 98.6 just before the 2016 elections.

Today, it stands at 137.9. To put that in perspective, this index was at 100 in 1985 — the year after Reagan won his landslide re-election.

The IBD/TIPP Economic Optimism Index was at 51.4 in November 2016. The latest reading for this index is 57.8.

Two years ago, the IBD/TIPP Financial Stress Index stood at 56.3 — anything over 50 signals stress. The latest reading for this index: 48.4.

In other words, the public is 12% more optimistic about the economy and 14% less stressed about their personal finances than they were two years ago.

Business optimism is also far higher today than it was two years ago
https://www.investors.com/politics/e...erm-elections/

[blackascoal]

None of the above appears to be making much difference in how the majority of the American people feel about the Worst President in American History.

Even many republicans don't want him anywhere near their campaigns.

Trajectory = Thanks Obama.

[PoliTalker]

Couldn't match the wage rise under Obama in 2009.

[anatta]

None of the above appears to be making much difference in how the majority of the American people feel about the Worst President in American History.

Even many republicans don't want him anywhere near their campaigns.

Trajectory = Thanks Obama.

completely wrong.
Trump is rallying just like Obama does in targeted districts/states.The Blue wave is dead.
Dems get the House from sheer number of Republican open seats but lose Senate seats

2 years later and tax reform with deregulation and you say "trajectory"
But Obama never got near 3% GDP and the wages are OVER 3%!

Black unemployment at record lows,, labor participation up..it's ALL GOOD

[cawacko]

None of the above appears to be making much difference in how the majority of the American people feel about the Worst President in American History.

Even many republicans don't want him anywhere near their campaigns.

Trajectory = Thanks Obama.

You are free to support whatever you like of course but you spent years on this board speaking out against Obama, his leadership (or lack thereof) and (poor) economic performance. Now all of a sudden you become a Democrat and that's completely changed and Obama did a great job with the economy. Was it registering as a party member that caused the change?

[carriek]

Obama did a great job but trump is likely to do better for the wages. Let's see if the minimum wage is increased in 2019.

[PostmodernProphet]

None of the above appears to be making much difference in how the majority of the American people feel about the Worst President in American History.
.

really?....check back with us on Wednesday.....

[Stretch]

Looking forward to the 2nd S.S. COLA in January. Thank-you again Trump!

[PostmodernProphet]

Couldn't match the wage rise under Obama in 2009.

who would want to....stagnation for the win....

[TTQ64]

The rapidly growing economy generated a robust 250,000 new jobs in October, keeping the unemployment rate at a 48-year low and pushing the increase in worker pay to the highest level in more than nine years.

Economists polled by MarketWatch had forecast a 208,000 increase in new nonfarm jobs.

Yet another strong month of hiring kept the unemployment rate at 3.7%, the lowest rate since 1969.

The creation of more than 20 million jobs since 2010 and the plunging unemployment rate are also delivering higher take-home pay for workers. The amount of money the average employee earns rose 0.2% last month to $27.30 an hour, the government said Friday.

The result: The increase in pay over the past 12 months climbed to 3.1% from 2.8%, touching 3% for the first time since the end of the Great Recession in mid-2009.

Which has fuck all to do with dump or the republican party.

[TTQ64]

[QUOTE=blackascoal;2692298]None of the above appears to be making much difference in how the majority of the American people feel about the Worst President in American History.

Even many republicans don't want him anywhere near their campaigns.

Trajectory = Thanks Obama.[/QUOTE]

EXACTLY

I don't trust his report anyway. ANYTHING coming from the right is suspect.

[TTQ64]

completely wrong.
Trump is rallying just like Obama does in targeted districts/states.The Blue wave is dead.
Dems get the House from sheer number of Republican open seats but lose Senate seats

2 years later and tax reform with deregulation and you say "trajectory"
But Obama never got near 3% GDP and the wages are OVER 3%!

Black unemployment at record lows,, labor participation up..it's ALL GOOD

Only racist white men believe this lie.

[dukkha]

Only racist white men believe this lie.

learn to read

https://www.libertyheadlines.com/bla...-trump-vision/
Black unemployment was 8.3 percent in September 2016. Last month, it was 6.0 percent,
slightly above May’s lowest-ever 5.9 percent.
The Labor Department counted 18.2 million blacks employed in September 2016 versus 19.3 million last September—1.1 million more black workers.
Blacks below poverty fell from 21.8 percent in 2016 to 21.2 percent in 2017, the latest and historically lowest such reading.