Winning! Dow Jumps after US adds 4.8 million workers back on the payroll
(www.thestreet.com)
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CNN: Obama's job numbers continue to rise, despite Trumps efforts to kill the economy
for reference Obama's highest job improvement for an entire year in his second term was 2.7 million. For Obama's second term in office it's average job growth per year was 2.5 million a year
Trump added 4.8 million in one month
if you include Mets that means he adde 8 million in 2 months
the Trump recovery on track to be far better than the Obama recovery
keep tabs on it. And remember to meme
https://media.thedonald.win/thedonald/post/BMceYa87.jpeg
https://media.thedonald.win/thedonald/post/bBYj3DdQ.jpeg
To be fair though those 8 million jobs lost were artificial in the first place. We would have to compare before the coronavirus hit.
But if you give the stimulus and regulation changes so that the jobs are still there to reopen, that’s a plus in my book!
I'm still leery of calling the stimulus a good thing, though, since we devalued the dollar to do it...
Wonderful news for the country. Unfortunately for us in blue states this is very sad news cause this only means the covid media blitz will be 10 fold and the lock down will be more intense.
We will be severely punished for this development. Your sympathy is appreciated in advance
The beatings will continue until morale improves.
Obama also had a near zero percent interest rate to keep the economy barely alive. There’s also the talk of how most of those jobs were part time or contractor jobs - ones with zero health Benefits. https://www.investing.com/news/economy-news/nearly-95-of-all-job-growth-during-obama-era-part-time,-contract-work-449057
Good point. We were in a zero interest rate environment then as well
Also, all joking aside, as someone who works in finance: all of this is hand-waving as to causation in most cases, and it's extremely complicated. The president, in general, is less powerful with regard to domestic economics than most people believe, and some of our tailwind is structural.
The main things Trump is doing that influence this is picking a fight with China to get us out of the Prisoner's Dilemma situation we were in, and pushing up American wages (and possibly costs, but that is TBD), along with the R congress pushing through tax reform on corporate tax rates so US companies expand inside the US, not outside of it.
How much of that vs. natural growth is in the jobs reports? Who the fuck knows. But the point is don't over-assume and also always push on the margins where it helps, which is where I think Trump has performed best as president.