Another Good Jobs Report for Trump

A media firestorm is renewing its effort to discredit and obstruct Trump on every level. It continues to galvanize the entrenched opponents, but they are turning into a smaller and smaller minority. The might of the media is no longer enough to prevent Trump from doing his job successfully, and that can be seen statistically in the latest jobs report. Let’s review the numbers and see what they say about the state of the country and how they expose the loudest and most common lies you’re being told every day.

The Report

The official report from the Department of Labor is packed with good news. More than 220,000 new jobs were added — smashing estimates. A complete rebound from a slow but positive spring has enabled 2017 to outpace job growth from 2016. If the summer rebound is at all typical, this year will end up being the best year for new jobs in an age.

There are some other good signs. Unemployment rose by 0.1 percent to 4.4. Normally rising unemployment is bad, but in this case it indicates something positive. When unemployment rises in the midst of massive job growth, it indicates that discouraged workers are returning to the labor force (or at least the job hunt). This is the first time seen a trend this strong since the recession hit.

Alongside that statistic, labor force participation grew again, outpacing last year by a fair margin. Topping all of that is wage growth, which is positive at 2.5 percent.

A breakdown of job growth tells a more important picture. The bulk of job growth was in health care, social assistance, financial activities and mining. This shows that GOP health reform discussion has not negatively impacted health care so far. It also shows that budget cuts have still left room for growth in social assistance which puts to bed most left-wing opposition to these cuts.

On the other side, deregulation is showing tangible results in the financial sector and mining. In fact, mining has seen 56,000 new jobs since Trump was elected. Last October marked record low employment in mining after years of decline. In half a year, Trump has completely disproven the naysayers who continue to argue that mining jobs can never return.

Expert Talks

As always, there are a host of “experts” who continue to incorrectly predict and interpret the economy. For almost two years they have been saying that the labor force is at saturation. Instead, we continue to see millions of discouraged workers return from unmeasured unemployment. This shows that the critics of unemployment measurement were right all along.

It also suggests that third-party market analysts have been more reliable that the Department of Labor. Those third-party measures have shown that job growth in 2017 has actually been almost 30 percent better than government reporting. By that same token, growth in Obama’s last two years was overestimated by the government by a similar margin. Overall, partisan expertise continues to discredit itself.

General Economic Improvement

This year we’ve seen massive job growth (especially in sectors that were previously stalled) and record stock numbers. These are the early indicators that Trump’s economy is working as predicted and on schedule. At this point, even modest estimates show that GDP growth will easily exceed two percent. If next year’s budget can pass without the threat of a shutdown and a few more of Trump’s primary goals can get through Congress, explosive growth is still possible. GDP growth exceeding four percent might be out of reach for 2017, but it is still likely during Trump’s term. For this year, breaking three percent would be a large victory and completely reverse the economic damage of the last presidency.

Trump has taken more abuse and obstructionism than any president in recent memory. Despite the regular dysfunction of the federal government, he is still keeping promises. The economy is the healthiest it’s been since the turn of the century, and things are only looking brighter every day. Imagine how things will be when the most defunct media outlets begin to fold.

~ American Liberty Report


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