Economic Expansion Just Getting Started

The numbers: The rapidly growing economy generated a sizzling 250,000 new jobs in October, keeping the unemployment rate at a 48-year low and pushing the increase in worker pay to the highest level in more than nine years.

Wages rise at fastest pace in nine years as U.S. adds 250,000 jobs in October
-------

I love it when I'm right!

 

Economists Chant ‘Wow’ Over Jobs Report as Wage Growth Picks Up

U.S. added 250,000 jobs in October, and wages rose at fastest pace in more than nine years.

Economists said October’s payrolls report showed all-around strength, and highlighted wages climbing 3.1% in the past 12 months as they called the data consistent with further tightening by the Federal Reserve.

• “In one line: Solid across the board, though hard to read the trends behind the weather noise.” — Ian Shepherdson, chief economist, Pantheon Macroeconomics.

• Jason Furman, who ran the Council of Economic Advisers under President Barack Obama, said he didn’t see anything bad in the October numbers, citing strong wage growth and a bounceback in job growth from last month.



• Jared Bernstein, who was former Vice President Joe Biden’s economic adviser, said the data showed “pretty much everything you could want in a monthly jobs report.”



Economists say ‘wow’ to jobs report as wage growth picks up

 

U.S. GDP grew 3.4% in third quarter instead of 3.5%

WASHINGTON (MarketWatch) - The U.S. economy grew at an annual 3.4% pace in the third quarter instead of 3.5%, revised government data show. Slightly weaker consumer spending mostly accounted for the downward revision, the Commerce Department said. Consumer spending, the main engine of U.S. growth, rose 3.5% vs. an earlier 3.6% estimate.

U.S. GDP grew 3.4% in third quarter instead of 3.5%

 

It is inexplicable.

Sent from my Pixel 2 XL

 

U.S. Gained Whopping 312,000 Jobs in December

WASHINGTON (MarketWatch) - The U.S. gained a whopping 312,000 new jobs in December to bring total employment gains in 2018 to a three-year high of 2.64 million. Economists polled by MarketWatch had expected a gain of 182,000 nonfarm jobs. The unemployment rate rose to 3.9% from a 49-year low of 3.7%, largely because more people entered the workforce in search of jobs.

The average wage paid to American workers climbed 11 cents, or 0.4%, to $27.48 an hour, the Labor Department said Friday. The 12-month rate of hourly wage gains edged up to 3.2% from 3.1%, matching a postrecession high. Hours worked each week increased 0.1 hour to 34.5 hours. The government said 176,000 new jobs were created in November instead of 155,000. October's gain was raised to 274,000 from 237,000.

U.S. adds 312,000 jobs in December, unemployment rises to 3.9%

 

U.S. gains 304,000 jobs at start of 2019 as firms continue to hire at blistering pace

The numbers: The U.S. gained 304,000 new jobs in January — the biggest increase in almost a year — in another show of strength for an economy that’s still growing soundly even in the face of more headwinds.

Economists polled by MarketWatch had expected a modest gain of 172,000 nonfarm jobs, but mainly because hiring in December had seemed so strong.

Instead the government slashed its original estimate of new jobs in December to 222,000 from 312,000 as part of an annual update based on newly available information. That’s the largest monthly revision since 2010.

Still, the economy has added an average of 241,000 jobs a month since November, marking one of the best stretches during a nearly 10-year-old economic expansion. And employment gains in 2018 were the strongest in three years.

The tight labor market has forced businesses to offer higher pay and benefits to attract or retain workers, but so far it hasn’t contributed much to inflation. That’s keeping the Federal Reserve from raising interest rates aggressively.




U.S. gains 304,000 jobs at start of 2019 as firms continue to hire at blistering pace

 

You mean like this?

 

Job market bounces back in March with 196,000 gain in payrolls

• Nonfarm payrolls expanded by 196,000 and the unemployment rate held steady at 3.8%.

Job market bounces back in March with 196,000 gain in payrolls

You will hear some economists saying they are disappointed in this jobs report. But for context, does anyone remember this?:

Obama’s Magic Number May Be 150,000 Jobs Per Month
By NATE SILVER
FEB. 3, 2012

Continue reading the main story

 

U.S. Jobless Claims Unexpectedly Fall, Hitting New 49-Year Low

Reade Pickert
,
Bloomberg•April 11, 2019

(Bloomberg) -- Filings for U.S. unemployment benefits unexpectedly dropped, falling to the lowest level since October 1969, as the tight labor market showed little sign of easing.

Jobless claims decreased to 196,000 in the week ended April 6, Labor Department figures showed Thursday. The level fell below all estimates in Bloomberg's survey of economists, which had called for an increase. The four-week average, a less-volatile measure, declined to 207,000, the lowest since December 1969.
-----

A little bit of synchronicity here. The number of new jobs created last month was 196,000 (see previous post). The number of jobless claims filed last month was also 196,000.

 

How it must BURN the Washington Post to print this...

 

Jobs surge in April, unemployment rate falls to the lowest since 1969

• The U.S. added 263,000 new hires in April, easily beating Wall Street expectations of 190,000.
• The unemployment rate fell to 3.6% vs. 3.8% expected and the lowest since December 1969.

Jobs surge in April, unemployment rate falls to the lowest since 1969

 

Went to CNN.com to read about the record low unemployment. Didn't see an article about it anywhere. But there was an article titled "Trump Struggling Despite Economy".

Sent from my Pixel 2 XL