The November jobs reports are coming out and the results are Bigly remarkable. Manufacturing job growth in November was 40,000 new jobs. That’s the highest single month jobs growth in over 15 years. These manufacturing jobs are higher wage jobs. This is the blue-collar-billionaire economic outcome President Trump has been working toward within every economic proposal, policy and initiative.
The first wave of companies (large and small manufacturers of American products) to jump on the Trump economic initiatives, have invested and begun building-out their capacity. Now we begin to see those companies hiring workers to create the products and services.
Overall the U.S. economy added 190,000 jobs in November which is almost twice the number needed to replace retiring workers. The government’s headline unemployment number is currently at 4.1%. For several years we have questioned the methodology behind the unemployment numbers. What we are likely to see is reality forcing the skewered methodology to push that unemployment number below 4%.
Aside from the jump in manufacturing, education and health services led with 54,000, professional and business services were next with 47,000 and trade, transportation and utilities contributed 36,000. Information services saw a decline of 13,000 while construction fell by 4,000. [*NOTE* The construction numbers appear fluctuated by payrolls in the wake of the September Hurricanes. October construction was +60k]
(Via Reuters) […] “The job market is red hot, with broad-based job gains across industries and company sizes. The only soft spots are in industries being disrupted by technology, brick-and-mortar retailing being the best example,” Mark Zandi, chief economist of Moody’s Analytics, said in a statement. “There is a mounting threat that the job market will overheat next year.”
Among goods-producing sectors, manufacturing added 40,000 jobs, the most in the ADP series history dating back more than 15 years, while construction shed 4,000.
Services-sector employment gains led the advance, with the largest increase coming in education and health services at 54,000, followed by professional and business services at 47,000.
Midsized businesses, defined as employing between 50 and 499 people, added 99,000 jobs, while small-employer employment rose by 50,000 and large companies increased their workforces by 41,000.
The ADP figures come ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment. (link)
[…] “to get it going the way I really want, where we have GDP getting up to 4, 5, and even 6 percent — because I think that’s possible. If you look back in your notes, you’ll say when I said 4 percent, people said that would be years. Well, it’s turned out that I’m right because without the hurricanes this last quarter, we would have hit 4 percent. At 3.3 percent, which was adjusted previously — this is far beyond what anybody thought it would be at. So we’re at 3.3 percent GDP. I see no reason why we don’t go to 4, 5, and even 6 percent. And I don’t want to go beyond that because then it will be criticized if we don’t hit it.
But every time we go up one point, just so you understand, one point means $2.5 trillion, means 10 million jobs. So one point in GDP is an incredible statement. $2.5 trillion for each point, 10 million jobs for each point. And I think we’re going to be going up a lot of points.”
Oh, the winning…. squeeze the kids. REMEMBER:
…”Hold on to your economic britches peeps – throw dem ju-ju bones out the windows – grab hold of the young-un’s, squeeze em tight and introduce them to ‘capitalism unchained’. We are in uncharted MAGA territory now. Q4 will be well beyond
3.2% 3.8%3.9%… Well Beyond.”…
MAGAnomics is a generally common sense approach toward achieving dynamic growth in the U.S. economy. Left-leaning U.S. economic experts (most of them) are gnashing their teeth as the America-First MAGAnomic principles are paying YUGE initial dividends.