The new jobs report for the month of October signaled that, under President Trump, the economy added 250,000 new jobs.
And, liberals are unsurprisingly refusing to give him any credit.
“Anything good in this Jobs Report is thanks to Obama,” liberals are saying on social media.
Give me a break. This economy is Trump’s economy and it is booming.
President Trump praised the new jobs report in a tweet online and reminded voters that if they want the success, they know how they ought to vote next week.
“Wow! The U.S. added 250,000 Jobs in October – and this was despite the hurricanes,” Trump said. “Unemployment at 3.7%. Wages UP! These are incredible numbers. Keep it going, Vote Republican!”
Check it out, via CNBC:
Job growth blew past expectations in October and year-over-year wage gains jumped past 3 percent for the first time since the Great Recession, the Labor Department reported Friday.
Nonfarm payrolls powered up by 250,000 for the month, well ahead of Refinitiv estimates of 190,000. The unemployment rate stayed at 3.7 percent, the lowest since December 1969.
The ranks of the employed rose to a fresh record 156.6 million and the employment-to-population ratio increased to 60.6 percent, the highest level since December 2008, according to the department’s household survey. That headline jobless number stayed level even amid a two-tenths of a percentage point rise in the labor force participation rate to 62.9 percent.
As a Washington Examiner op-ed points out, businesses are booming and they are citing President Trump’s Tax Cuts and Jobs Act of 2017:
In 2016, President Barack Obama said then-candidate Donald Trump would need a magic wand to deliver on his promise to bring back manufacturing. Turns out, Trump didn’t need a magic wand — all he needed was tax reform.
Since President Trump signed the tax cuts, manufacturing has been booming. At least 100 manufacturers have built new facilities, purchased new equipment, hired new employees, and invested in current employees through bonuses and benefit increases. Each has cited tax cuts as the reason for their actions.
Manufacturers are taking advantage of two key pro-business and pro-growth provisions in the Tax Cuts and Jobs Act: a reduced corporate tax rate and full business expensing.
A big counterpoint for liberals is “well, these jobs are nice, but wages are lagging behind.”
Only, Trump fixed that too.
As CNBC reports, average hourly earnings grew by 5 cents an hour over the month of October and the Trump administration grew wages 83 cents year over year. According to the report, this is a 3.1 percent gain and the best annual increase in wages since 2009.