Elder Patriot – Earlier today we reported ADP’s initial estimate of the number of new jobs created in December. ADP’s report came out yesterday.
The official numbers released by the Labor Department were even more stunning. From the AP:
WASHINGTON (AP) — U.S. employers dramatically stepped up their hiring in December, adding 312,000 jobs in an encouraging display of strength for an economy in the midst of a trade war, slowing global growth and a partial shutdown of the federal government.
The Labor Department said Friday that the unemployment rate rose slightly to 3.9 percent, but that reflected a surge in job seekers— a positive for growth.
Average hourly pay improved 3.2 percent from a year ago, up from average wage growth of 2.7 percent at the end of 2017.
As for manufacturing, President Trump’s personal favorite, the industry posted its biggest annual gain in 20 years reversing much of the damage done during the Bush and Obama administrations that favored the profits of multinational corporations and international bankers over American workers.
The manufacturing industry posted net job gains of 284,000 over 2018, capping its best calendar year since 1997.
A priority for President Donald Trump, manufacturing saw marked hiring in December with an additional 32,000 jobs. Most of the gains occurred in blue-collar durable goods manufacturing, with growth in fabricated metals and computer and electronic products, the Labor Department said in its release. The definition of durable goods is items with a life expectancy of three years or more, such as automobiles, furniture and machinery.
Manufacturing added 207,000 jobs in 2017.
“Manufacturers are bringing people back into the workforce, and we need this trend to continue,” said Dr. Chad Moutray, chief economist at the National Association of Manufacturers. “Our industry currently faces a workforce crisis with more than half a million open jobs today, and 2.4 million jobs expected to go unfilled over the next decade. Closing the skills gap continues to be the top challenge facing manufacturers in the United States and is absolutely essential to ensuring that the sector continues to grow.”
Virtually every demographic has benefited from President Trump’s America First pro-growth agenda.
From CNS News:
The national seasonally-adjusted unemployment rate for Hispanics and Latinos in the U.S. labor force hit its lowest level on record in December of 2018, U.S. Bureau of Labor Statistics (BLS) data released Friday show.
In December, the unemployment rate for Hispanics and Latinos, aged 16 and up, was 4.4%, down from 4.5% in November – tying its record low of 4.4% set in October of this year. BLS began tracking Hispanic-Latino employment data in 1973.
The number of Hispanics employed set a new record high of 27,701,000 in December, as their unemployment rate fell to a record low. The number of Hispanics employed, participating in the workplace, and civilian population all rose in December, as Hispanics’ labor force participation rate increased from 66.8% to 67.0%, recording its fourth straight monthly increase.
The American economy is once again the envy of the world. Ask yourself why President Trump has had to fight so hard against Congressional Democrats and RINO’s?