They’re obviously highlighting these ridiculous and isolated stories to distract from the actual number one issue: America’s economy. Because under President Trump, it has taken off like a rocket ship and shows no signs of stopping.
This morning, the Labor Department released its monthly jobs report for October. There is literally no bad news in the thing. Rather than explain it ourselves, we’ll let the Wall Street Journal walk you through just how well things are going with their key takeaways:
- Labor Department data showed the U.S. added 250,000 jobs in October, above forecasts of 188,000. The unemployment rate held steady at 3.7%. Average-hourly earnings rose 3.1% from a year earlier, the best pay raises in nearly a decade.
- Labor market continues to strengthen. Hiring accelerated in October and the unemployment rate held at 3.7%, a 49-year low. The two longest stretches of similarly low unemployment occurred when the U.S. was engaged in the Korean and Vietnam wars.
- U.S. workers saw their best pay raises in nearly a decade. Wages increased last month and advanced 3.1% from a year earlier, the best year-over-year gain for average hourly earnings since 2009.
- Professional services and health care have continued to be the biggest driversof job growth. The construction and manufacturing industries have both posted solid gains over the past year.
- The report likely will keep the Federal Reserve on course to raise interest rates. Federal-funds futures suggest traders buy that argument. Fed Chairman Jerome Powell believes unemployment can remain low without triggering inflation, our Greg Ip writes.
- More Americans are jumping into the labor force. The share of Americans working or looking for a job rose to 62.9% in October after being stuck at 62.7% for months, according to the Labor Department. This tight labor could be encouraging discouraged workers to join the workforce again.
President Trump told us we’d get tired of winning. It seems that Democrats are the only ones experiencing such fatigue, because these figures are real, tangible, and for millions of Americans, life-changing. Bravo to the President and Republicans in Congress; let’s keep this going.