Stunning jobs report for November

Trump triumph continues: Stunning jobs report for November as previous two months’ job totals revised upward

By Thomas Lifson

“It’s the economy, stupid!”

James Carville

The ”experts” (presumably, PhD economists) once again are stunned. Marketwatch had expected 180,000 jobs to be added to the economy, and credited the end of the GM strike for boosting that expected total by 50,000. So, the real forecast was that the Trump economic reforms were adding 130,000 jobs to the economy.

The real total, just released minutes ago: 266,000. Factoring out 50,000 GM jobs, the economy added 2/3 more jobs than the experts predicted.

Moreover, the jobs totals for the past two months were revised upward:

…the increase in new jobs in October [was revised] to 156,000 from 128,000. September’s gain was raised to 193,000 from 180,000.

Unemployment has declined from 3.6% to 3.5%, matching the lowest figure in half a century.

How many Americans would want to exchange the Trump boom for the Democrats’ version for the “new normal” of steady economic decline?

If you’re in the mood for some schadenfreude, take look at the way the New York Times carefully brackets the good news with references to the GM strike ending as a factor explaining it away in the headline itself and in the “takeway”:

The return of tens of thousands of striking workers to their jobs at General Motors helped supercharge hiring totals last month.

The reassuring jobs report, released Friday morning by the Labor Department, offered a counterpoint to renewed anxieties about an escalating trade war and a weakening global economy.


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