February 2, 2018

The Bureau of Labor Statistics reported this morning that non-farm payroll jobs grew by 200,000 in January. Economists had predicted 180,000, so once again, the final number was “unexpected.” But unlike during the previous Administration, it was unexpectedly high, not unexpectedly low.

Some other interesting numbers in today: Hourly wages in January were up 0.3%, reflecting an annual increase of 2.9%, the biggest pay raise since 2009. The biggest job gain was in construction (36,000 new jobs), plus 15,000 jobs in manufacturing, during a month that’s usually soft for those industries. Unemployment held at 4.1%. Lowe’s announced that 260,000 hourly workers will get bonuses of up to $1,000 each thanks to the tax cut. And spurred by the economy and his State of the Union Address, President Trump’s approval rating in the Rasmussen daily tracking poll jumped to 49%, the first time he’s had an approval rating higher than his share of the vote in the 2016 election.

So if you’re wondering why liberal media outlets are talking about nothing but how terrible it would be to release that FBI memo, wonder no more.

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