July Job Growth

August 3, 2018 - August 4, 2018

The government released its accounting of July job growth, and it’s not as strong as the estimate by Moody’s Analytics. The Labor Department says that total non-farm payrolls increased by 157,000, which is below the 190,000 economists expected.  However, job totals for May and June were revised upward so much that the average monthly job growth was 224,000.  Leaving one to wonder, if they got those initial numbers for May and June so wrong, why even pay attention to the initial numbers for July?  Maybe they should just think about it for a couple of months and then tell us what it really was.

In other economic news, the unemployment rate dropped to a rock bottom 3.9%.  Hispanic unemployment edged down from 4.6 to 4.5%, an all-time low.  155,965,000 Americans were employed in July, also a record. 

I find it hard to reconcile all this good news with the descriptions of the dark, hopeless, dystopian nightmare world painted by the rabid anti-Trump left.  I see them protesting everything he does, even though it’s working great; and demanding we turn to socialism, a horrific system that’s failed every time it’s been tried.  And I wonder what exactly is wrong with these people?  And then it hit me:

Naturally, the type of useless liberal arts degreed, parents’ basement-dwelling social justice warrior and Antifa types hate what Trump is doing to America.  Because what he’s doing is resulting in full employment.

https://www.cnbc.com/2018/08/03/us-nonfarm-payrolls-july-2018.html

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