Yippie the jobs report has come out and everyone’s jubilant but the sector that gained the most (again) is also the lowest paying- Food Industry while Manufacturing lost jobs.
Don’t get me wrong, a job is a job and adding 209,000 people to the workforce places food on the table. But how much of the current job growth is riding on POTUS Barry’s coattails and how much has to do with POTUS Donnie’s inspiration, because not much has changed in the past 7 months to claim it’s one over the others economy. Or is it?
Barry saw an average 199,000/month job growth and that’s with a recession calculated in, Clinton saw around 240,000/month, with Reagan not far behind with 166,000/month as well. Can Trump (with Congress) keep the average above 200,000/month?
But the rub in all this hoopla is that wages barely grew at 2.5% and with the average hourly wage at $26.36 or a rise of 0.69 cents.
The average salary in the US sits just above $44,000 at $44,148 per Bureau of Labor Statistics, so with some common core math and using the 2.5% growth, that’s a $1.10 increase or is it easier to say you can afford to buy from the Dollar Menu without a sweat.
No this is not a full on attack of POTUS Donnie, it’s a blast at Media for tooting horns and popping champagne once a month on the jobs reports.
Yes be happy that Unemployment is sitting around 4.3% but how much of the continued drop can be attributed to people finding jobs and people dropping out/using up their UC benefits. Was that not the monthly question spewed by Media Commentators and Stock Speculators? – PB/TK
https://www.cnbc.com/2017/08/04/us-nonfarm-payrolls-july-2017.html
