These results just make lefties even more irrational. Hard to believe..... "more" irrational than they already are.
https://issuesinsights.com/2019/05/03/263k-new-jobs-trump-economy-beats-experts/
In the span of two days we learned that the inflation rate is below the Federal Reserve’s target rate and that the economy created a surprisingly large 263,000 new jobs in April.
This wasn’t supposed to happen.
Even before President Trump took office, then Fed chair Janet Yellen was warning that the economy was dangerously close to “maximum employment.” Strong job growth going forward, she said in early January, could spark inflation.
In May of that year — almost exactly two years ago today, in fact — the media’s favorite economist, Mark Zandi at Moody’s, declared that: “With the economy at full employment and seeming destined to blow past it, the current expansion is likely entering its later stages. An overheating economy, where tight labor markets result in significant wage and price pressures, has been a necessary condition for all past recessions.”
Oops. The economy created about 5 million new jobs after Zandi made that statement. The expansion gained strength. And inflation is nowhere to be seen.
Friday’s report from the Bureau of Labor Statistics shows that the economy created 263,000 new jobs in April, which was well above economists’ forecasts.
The unemployment rate, which is now 3.6 percent, is the lowest it’s been since Richard Nixon was in his first year as president. Wages are growing, too. They were up 3.2 percent in April, marking the ninth straight month of 3 percent-plus gains. As the White House Council of Economic Advisers notes: “Prior to 2018, nominal average hourly wage gains had not reached 3 percent since April 2009.”
Yet, two days before this latest jobs report came out, the Fed said that “On a 12-month basis, overall inflation and inflation for items other than food and energy have declined and are running below 2 percent.”
https://issuesinsights.com/2019/05/03/263k-new-jobs-trump-economy-beats-experts/
In the span of two days we learned that the inflation rate is below the Federal Reserve’s target rate and that the economy created a surprisingly large 263,000 new jobs in April.
This wasn’t supposed to happen.
Even before President Trump took office, then Fed chair Janet Yellen was warning that the economy was dangerously close to “maximum employment.” Strong job growth going forward, she said in early January, could spark inflation.
In May of that year — almost exactly two years ago today, in fact — the media’s favorite economist, Mark Zandi at Moody’s, declared that: “With the economy at full employment and seeming destined to blow past it, the current expansion is likely entering its later stages. An overheating economy, where tight labor markets result in significant wage and price pressures, has been a necessary condition for all past recessions.”
Oops. The economy created about 5 million new jobs after Zandi made that statement. The expansion gained strength. And inflation is nowhere to be seen.
Friday’s report from the Bureau of Labor Statistics shows that the economy created 263,000 new jobs in April, which was well above economists’ forecasts.
The unemployment rate, which is now 3.6 percent, is the lowest it’s been since Richard Nixon was in his first year as president. Wages are growing, too. They were up 3.2 percent in April, marking the ninth straight month of 3 percent-plus gains. As the White House Council of Economic Advisers notes: “Prior to 2018, nominal average hourly wage gains had not reached 3 percent since April 2009.”
Yet, two days before this latest jobs report came out, the Fed said that “On a 12-month basis, overall inflation and inflation for items other than food and energy have declined and are running below 2 percent.”
