Remember all those doom and gloom predictions of an imminent recession? The one that was going to take down the Trump administration, assuming impeachment and removal from office didn’t do it first?
Well, let’s see how bad things really are.
Excerpted from Susan Jones’ just-published article at cnsnews.com:
A record 158,510,000 Americans are now working, the 23rd such record since President Donald Trump took office.
The nation’s labor force participation rate also set a Trump-era high of 63.3 percent.
Among the major worker groups, the unemployment rates for adult men (3.2 percent), adult women (3.2 percent), teenagers (12.3 percent), Whites (3.2 percent), Blacks (5.4 percent, a new record), Asians (2.9 percent), and Hispanics (4.1 percent) showed little or no change in October.
The change in total nonfarm payroll employment for August was revised up by 51,000 from +168,000 to +219,000, and the change for September was revised up by 44,000 from +136,000 to +180,000. With these revisions, employment gains in August and September combined were 95,000 more than previously reported.
The number of Americans not in the labor force, but who want a job, totaled 4,880,000 in October, which is an eleven-year low.
Wages continued to climb in October. Average hourly earnings for all employees on private, nonfarm payrolls rose by 6 cents to $28.18 last month. Over the past 12 months, average hourly earnings have increased by 3.0 percent
There you have it. The “recession”, in full bloom.
May it continue for years and years to come.
