MAGAnomics – January Jobs Report, Massive Wage Growth, Manufacturing Report and Overall Economic Numbers Stun Financial Media…

The Bureau of Labor Statistics (BLS) published the report on the January job growth and the financial media sat jaw agape as the economy gained a whopping 304,000 jobs despite the government shutdown. The doomsayer pundits are choking on a triple-scoop of winnamins.

Adding to the financial media apoplexy the wage growth in blue-collar workers far exceeded expectations, and the ISM data on manufacturing blew all consensus predictions out of the water… leading to the following ‘scorching’ headline from CNBC:

(Link to article)

Too funny.  Enjoy the following:

(Via CNBC) January’s super strong jobs report and a solid manufacturing survey on Friday showed that recession worries may be overblown and slowdown fears are not impacting corporate hiring or dampening manufacturers’ sentiment.

The economy added a surprising 304,000 new jobs in January, well above the 165,000 expected by economists. Wages grew by an annual 3.2 percent, and were even higher for nonmanagerial workers with a 0.4 percent monthly gain.

“The labor market is still scorching,” said Ward McCarthy, chief financial economist at Jefferies. “If you look at the payroll data, the economy continues to pound out job growth. Wage growth is for real.”

ISM manufacturing was 56.6, well above the consensus of 54.2, but the important new orders component rose even more to 58.2 from 51 in December. A number above 50 reflects expansion, and while off recent highs, economists had expected the number to slow down even more. Consumer sentiment was also reported Friday and was significantly lower at 91.2, but it too beat expectations. (read more)

  • In January, employment in leisure and hospitality rose by 74,000.
  • Construction employment rose by 52,000 in January
  • Employment in health care increased by 42,000 in January.
  • Over the month, employment in transportation and warehousing rose by 27,000.
  • In January, retail trade employment edged up by 21,000.
  • Mining employment increased by 7,000 in January.
  • Employment in professional and business services continued to trend up over the month (+30,000) and has increased by 546,000 in the past 12 months.
  • Employment in manufacturing continued to trend up in January (+13,000).

    (Source BLS Data)

“January’s Job Report demonstrated the strength of the American economy, with 304,000 jobs added as private sector job creation continued to surge despite the partial government shutdown. Significant growth in the mining, construction, and transportation and warehousing sectors led the report.

“The unemployment rate ticked up 0.1 percentage point to 4.0%, largely as a result of the temporary lapse in federal government funding, yet this is the 11th consecutive month that the unemployment rate has been at or below 4.0%.

“Average hourly earnings rose by 3.2%, marking the sixth straight month in which year over year hourly earnings have been growing at or above 3%. Average weekly earnings rose at an even more robust 3.5%, year over year.

“Another key indicator in the report pointed to the increase of the labor force participation rate to 63.2%, the highest rate since August 2013.

“As the jobs and employment data normalizes over the coming months, we are confident the nation’s economy will continue to build on the strength seen in 2018 and the first report of 2019.”  ~ Labor Secretary Alexander Acosta

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140 Responses to MAGAnomics – January Jobs Report, Massive Wage Growth, Manufacturing Report and Overall Economic Numbers Stun Financial Media…

  1. sundance says:

    Liked by 22 people

    • Matt Musson says:

      Unfortunately, the FED is going to raise rates again.
      But, it is more fun when the FED is chasing the economy up rather than down.

      Liked by 3 people

      • ristvan says:

        They eventually should, a bit. The old rule of thumb (that I was taught in Macroeconomics a long time ago at Harvard, twice, college and HBS) is that the fed funds rate should approximate the GDP growth rate. Higher FFR is a negative for inflation. Lower FFR is a positive for inflation. About the same is inflation neutral. A couple more quarter point FFR raises in the next year are no biggy, they would be roughly neutral.
        PDJT has jawboned the Fed into a reminder of this old rule of thumb, which he probably also remembers from his U Penn Wharton business education decades ago.

        Liked by 9 people

        • The Demon Slick says:

          There’s no inflation. The things that count towards inflation like toasters and microwaves are not increasing in price. The things we should count towards inflation but don’t like groceries and gas are actually going down. Wages are going up. Bottom line, family vacations are back baby! Fed yo don’t screw it up.

          Liked by 3 people

          • Walleye says:

            There is no inflation because the wrong things are measured.
            The fed will increase Rae’s twice this year and they should
            Kick 5~10 million illegals out and we are golden.

            Liked by 1 person

        • ATheoK says:

          Agreed, Ristvan.

          Wharton’s economics courses are often taught by Fed or Ex-Fed employees. Our prof delighted in bringing the latest Fed problems to class to stump us students, though he did get excited when someone would stumble across part of the Fed’s solution.

          The Fed hates low unemployment which they take as contributory to high inflation.

          Pundits who claimed recession fears were basing their opinions on higher FFR rates, higher interest financial burdens, a more difficult employment picture causing higher unemployment, and the significant drop in capital caused by FFR increases that sank stocks.
          What pundits overlook is that the entire business infrastructure remains incredibly healthy and is still responding to lower regulatory burden and high demand. Years of stifled business opportunity are unleashed.

          So yes, continued low unemployment means the Fed will raise the FFR repeatedly this year as they try to crush any inflationary conditions.

          I believe PDT has a far better understanding of how business responds than the ossified Fed.

          Liked by 4 people

          • GB Bari says:

            A lot of the fake hysteria among financial media / pundits who predicted inflation was from the globalists who wanted us to believe that inflation would result from higher domestic prices caused by PDJT’s punitive tariffs that are in effect during the multiple trade agreement resets that the president has been spearheading.

            It was a bogus argument out of the gate but so many folks in the investment markets don’t really understand economics that the explanation “sold” well at least for awhile.

            Liked by 2 people

          • joebkonobi says:

            Yep, Best option for the Fed is to give PDJT the reins and let er’ go. Don’t win horse races pulling back on the reins!

            Liked by 2 people

        • JAS says:

          Economics is as much a science as Psychology, and that is all I have to say about that….

          Liked by 1 person

      • SwampRatTerrier says:

        The FED is DEAD!!!!!!!!!!!!!!!!!

        Like

      • Thomas O'Reilly says:

        There is fox in the hen house here by the name of GM. Layoffs are bad but the potential downstream effects from plant closings could be more devastating overall. Haven’t we been here before? As this situation deteriorates, how does DJT address it before it boils over in an election year?

        Like

    • Joan Horning says:

      best Panda picture ever!

      Liked by 3 people

    • Michael Todaro says:

      Love, love, love POTUS Trump. He is universally revered in Vietnam. Cash gift envelopes at weddings are $100 dollar bill mock ups, front and back, with POTUS Trump in place of Benjamin Franklin. MAGA hats, American flag shirts… welcome and respected everywhere. The Vietnamese fled to California in the seventies to escape the Communists but now California is in a death grip of vile, atheist, anarchist radicals while human rights and freedom of expression (and the economy, 8.3%) flourish in Vietnam. MAGA/KAG !

      Liked by 3 people

    • BigMamaTEA says:

      Wonderful.

      Like

  2. sundance says:

    Liked by 20 people

  3. calbear84 says:

    So cutting taxes and regulations, and restructuring trade deals leads to economic growth? I guess that’s the magic wand Barack the Magic Negro was referring to!

    Liked by 6 people

    • Nigella says:

      Who Knew?

      Liked by 3 people

    • magatrump says:

      Otherwise know as Saint. Obama

      Like

    • Zaza says:

      It’s hard to say if Obama was a “true believer” like his Weather Underground mentors, or one of the would be plutocrats like the Soros wannabes, you may say “what difference does it make” as the result is the same. However remember, we can never OUTSPEND the triad of billionaire globalists, the combined wealth of the Gates,Soros,Bezos,Buffets are against us, we have to win with the ideology of understanding.

      The Xbox grandkids of ma and pa kettle have to be taught the globalists are out to enslave, not save them.

      Like

      • G. Combs says:

        Remember when Little girls (and boys) were taught by their Moms, “If a stranger offers you candy, RUN LIKE HADES AWAY from them!”

        Well the same goes for when a politician offers you ‘Free Stuff’ RUN!

        Unfortunately tose who fall for socialism/communism are tricked the same way as wild pigs…

        Liked by 6 people

        • ristvan says:

          GC, you are amazing. TY.
          We don’t have feral hogs up in my Wisconsin Uplands dairy farm, although that trap setup looks like it would work on Wisconsin Congress critters if the trigger bait was dollars and the panels a bit higher.

          Liked by 3 people

    • Ausonius says:

      MAObama did not care about growth or income or opportunity for all.

      He wanted “FAIRNESS” at the expense of those things. Remember his encounter in Toledo with the Economist/Plumber Joseph Wurzelbacher? MAObama did not care if lower taxes actually brought in more revenue: MAObama told him that he cared much more about “fairness.”

      Fairness defined as “Taking money away from all those who work as well as they can.”

      Liked by 1 person

      • USTerminator says:

        There is no amount of resource in the world to make everyone rich equally. However, it is easy to make everyone poor equally.
        If some how you have a magic and make everyone on earth have 1 billion dollar each, Do you think everyone are rich?? Try to ask other billionaires to cut your grass? make you dinner, fix your car…. You get the point. When everyone are equally rich then they are just all poor equally.
        The fairness should be everyone should have a fair chance of getting richer than anyone else but not equal outcome for everyone.

        Liked by 1 person

    • SteveC says:

      Well, PDJT did have to make a few of phone calls, too, so I’ve always assumed that was the magic wand.

      Liked by 1 person

    • Charlie says:

      Laughing!!! Millennial wake up! This is your future don’t go socialist!

      Liked by 2 people

    • GB Bari says:

      Possibly. I think it is safe to conclude that they don’t teach real economics (or basic business or civics or ethics) at Community Organizer School.

      Liked by 2 people

  4. Duke of Cumberland says:

    I’ll say it for you, SD: Jumpin’ Ju-Ju Bones!

    Liked by 8 people

  5. It was always this easy.

    Liked by 6 people

  6. Julia Adams says:

    Here is Rush’s take below from earlier today. I love it when Trump hammers the media blowhards!

    https://www.rushlimbaugh.com/daily/2019/02/01/drive-bys-gobsmacked-by-blockbuster-jobs-report/

    Liked by 7 people

  7. allhail2 says:

    Share this far and wide. The MSM is too busy breaking all their 10’ ft poles so they can avoid touching this at any cost.

    Liked by 1 person

  8. TwoLaine says:

    He had me at:

    I will be the best JOBS President in history.
    ~Donald J TRUMP

    Liked by 5 people

  9. quintrillion says:

    As predicted from the start: The America First Trump Train has no brakes.

    Liked by 4 people

    • Remington.....it says:

      Things are going well of late. Is it just me, or do I detect a trend? If things continue, the globalist scum will have to come up with something drastic…Something like the event they staged in Las Vegas. Put nothing beyond these swines.

      Liked by 1 person

  10. allhail2 says:

    Breaking News: MSM claims job scans economy are too strong. People are choosing to work to pay bills and provide for their families. It’s all Trump’s fault. /s

    Liked by 1 person

  11. TheLastDemocrat says:

    What a refreshing change!

    The good economic numbers are “surprising,” rather than “unexpected.”

    Like

  12. trapper says:

    I am wondering how much of the construction and transportation is related to building/expanding/reopening manufacturing plants and equipping them. To the extent it is, we could be poised for a big jump in manufacturing jobs as the new plants hire and come on line.

    Liked by 5 people

    • alonzo1956 says:

      I suspect at least part of your post is spot on. Construct new manufacturing facilities and then fill em up!

      Liked by 1 person

    • G. Combs says:

      trapper, My local quarry doubled the price of gravel, and you had better be careful around my neighborhood or you will get run over by the gravel trucks! Actually we had three gravel trucks flip over near me in the last year!

      Liked by 1 person

    • GB Bari says:

      COnsiderinug that last year there were about half a million unfilled trucking jobs I think its safe to say that a good portion of those were for the re-energized and expanding business at existing facilities. But looking at LIghthizer’s map at POTUS WH meeting today it indicated that there are a LOT more new operations opening up around the country than I was aware of (or maybe than most were aware of).

      Liked by 1 person

  13. Publius2016 says:

    Time to make the donuts! Get up early too!! US Business is where the action is around the world!!!

    Liked by 1 person

  14. TwoLaine says:

    This is the 100th consecutive month of job gains.

    Like

    • The Boss says:

      And the 16th consecutive month of 100K+ jobs.
      And these are real jobs. Not obama’s redefined FT jobs of 30 hours / week.

      Liked by 4 people

      • TwoLaine says:

        Think of all the people who lost their jobs (and their insurance) over the healthcare takeover, and all the $$$ wasted to replace them at 3 times the cost when appropriated by the gubt. Most of them are gone now, since the bottom fell out of this hideous program with never ending price tags.

        Many people had to be hired just to do the work of the piece of sh1t so-called “marketplace” that fell apart day 1 all across the country. Six “customers” processed at best.

        I remember laughing at the talking heads who were gaga over the fact that the website was in multiple languages. OOOOHHHHH. AAAAHHHHHHH. And then their joy fell apart on Day 1. 😉

        Like

    • TwoLaine says:

      ❤ that Kudlow tweet and the Kudlow Koala in shades!

      #WereOnARoll
      #ItsGonnaStayLikeThat

      Liked by 3 people

    • cjzak says:

      100 months, hmmm, then I bet the anti PT media and left will credit Obama and not PT for all this joy and amazement in spite of all the evidence to the contrary. SOP for anything that PT causes that actually helps America. Good Friday news that’s for sure!

      Liked by 1 person

    • Dennis Leonard says:

      See you have been reading CNN again,fake news.

      Liked by 1 person

  15. ParteaGirl says:

    And all of this while 800,000 government employees were furloughed. Huh. 🤔

    Liked by 3 people

  16. JIM says:

    The FED will step in to ‘correct’ these numbers.

    Liked by 1 person

  17. magatrump says:

    I guess its a good thing when the government shuts down.

    Liked by 1 person

  18. AustinTilItAin't says:

    And the only thing that was down was consumer confidence. Wonder where consumers got the idea that we’re all going to hell in a hand basket. Nah, couldn’t be the MSM.

    Liked by 1 person

  19. Akindole says:

    And, the Marxist platform in 2020 will be…..

    Like

    • MostlyRight says:

      Exaggerating and over-hyping and blatantly lying about whatever Mueller vomits out, plus a variety of micro aggressions the media blames on Orange Man.

      Like

  20. trapper says:

    Jobs, free trade, fair share taxation, equal opportunity, border security, bad dog Russia, election integrity, comprehensive immigration reform. Of course, it will all be bull shit. Their “solutions” will only make worse every single one of the problems they are supposed to solve. Faculty lounge understanding of how the world works, which means no understanding at all and no real attempt to face reality or buy a clue.

    Like

  21. Robster says:

    Yeah but the last blockbuster jobs report was revised down from 312,000 to 220,000. That’s a huge downward revision. The government sure likes to see those initial reports with numbers above 300k! Let’s see if we get another downward revision next month.

    Like

  22. Sharpshorts says:

    Kudlow – “we’re on a roll and it’s going to stay that way”

    Liked by 1 person

  23. ristvan says:

    This will continue through the election. There are three reasons.
    1. All the formerly exfiltrated now being repatriated economics (capital, manufacturing) only just started. It takes 2-3 years to build a factory or refurbish one, train the workers, and get operations fully under way. It has only been a bit more than a year.
    2. USMCA is not yet implemented.
    3. China trade deal is not yet agreed.

    Dems clowncar full of presidential hopefuls has no hope. “It’s the economy, stupid.”

    Liked by 7 people

  24. MaineCoon says:

    Liked by 6 people

  25. Grant says:

    And sadly, his approval ratings is still low. Even from the Rasmussen Reports. Or they could be fake like always?… I don’t know. I don’t know which poll to trust.

    Like

    • tax2much says:

      How about your own? It’s the only one that matters.

      Liked by 2 people

    • Remington.....it says:

      Grant….none of them….

      Liked by 3 people

    • Dutchman says:

      THATS easy; NONE of them. It is not a ‘science’ it is a psudo-science, like ‘climate change’.
      Polls have NEVER been a reliable indicator of peoples sentiments, it simply IS NOT possible to ask a series of closed ended questions, compile the results, and then extrapolate and apply those answers to a much larger group.

      Its hogwash.

      Liked by 2 people

    • WSB says:

      Grant, I do not follow Twitter most of the time, but other than Sundance, PT and one or two orpthers. I check Brad Parscale quite a bit.

      He is PT’s campaign manager for 2020 and quite a guru.

      He has severely interesting posts. Well, third only to PT and SD, but then I am biased.

      Like

  26. Gunner says:

    Damn, the socialist, progressive, leftists can’t catch a break. Well, maybe they can find a way to turn Ralph Northam (D gov from VA) into a racist Republican — he’s having a rough week, don’t you know…

    Liked by 2 people

  27. thedoc00 says:

    The five Financial Media personalities, whom I watch, have been on-board from the beginning; Charles Payne, Stewart Varney, Liz MacDonald, Lou Dobbs and David Asman. They are the only Fox commentators who have not waivered and have stayed on course in their reporting. Sorry, Maria B. is a great interviewer but she has proven to go with the prevailing media flow as required.

    Liked by 2 people

    • WSB says:

      Good list.

      Maria is on board but the Murdoch kids seem to lean on her once in awhile. Liz was anti-Trump for a long time but she is a business and math wiz and saw rhe light.

      LOVE David Asman, and do not forget Lou Dobbs. Lou will sound like opposition once in awhile, however his heart is in the right place. Same frustrations as the rest of us with the House being held hostage in not demanding a ‘Vacate the Chair’ motion.

      Like

  28. CharterOakie says:

    MAGA-SAGA-DING-DONG!!

    Liked by 1 person

  29. chojun says:

    Consider this:. I don’t have the numbers in front of me but since the last time the labor participation rate was this high, 2013, we’ve had a *considerable* number of baby boomers leave the workforce – in numbers that are difficult to overcome with new workers entering.

    Matching 2013 numbers can only mean one thing, the economy **I.S O.N F.I.R.E**

    Like

    • Chip Doctor says:

      Chogun,
      I believe it is too, but there are sectors that are really hurting. I am in the retail automotive business. I have not seen a slump like this since fall of 2008. It doesn’t match up with the rest of the news. But I believe in PDJT’s policies and expect a turnaround. MAGA.

      Like

  30. Doug Amos says:

    Success is no mistake.

    Liked by 2 people

  31. waltherppk says:

    Dhimmicrats have been claiming the improved economy is a delayed effect from Obama.

    Liked by 2 people

  32. Don’t forget the fake news on Foxconn leaving WI, with blame going to PDJT. Actually it was the left wing governor (who defeated Walker in 2018) who tried to break the deal. PDJT stepped in an reassured Foxconn the deal would remain in place.

    See Fake NBC news:

    https://www.nbcnews.com/business/business-news/foxconn-may-not-build-10b-wisconsin-plant-trump-touted-n964411

    OANN’s take:

    https://www.oann.com/foxconn-says-it-will-build-plant-in-wisconsin-after-talk-with-trump/

    BTW, just checked the market close today and here are S&P numbers from key dates:
    08 Nov 2016 Close on Election Day: 2163.26
    20 Sep 2018 Absolute peak close: 2930.75
    24 Dec 2018 Midterm and year-end selloff: 2351.10
    1 Feb 2019 Close: 2704.10

    The reader can work the percentages. I am happy.

    Liked by 1 person

  33. Fuhrer Nancy Pelosi : “Curse you Pres.Trump! Foiled Again!!”

    Liked by 1 person

  34. highdezertgator says:

    All the genius “economists” have to do is throw away their useless formulas and count the semi-trailers on the interstate and railroad cars…
    The BNSF in southern NM about mile+ long….. stacked with cargo trailers

    Like

    • MrG says:

      My local Lowes has hired a dozen+ new employees. The parking lot is full of contractor vans/trucks and they are loading up big time. And this is in tiny Roxboro NC. Also, I can’r swing a dead cat without seeing a Help Wanted sign. AND although retired, I can’t seem to convince staffing agencies I want to stay retired.

      Liked by 1 person

  35. Arrest Soros says:

    Treepers should get together and commission a “magic wand” to gift to the president.
    Black ivory with a silver handle and gold tip. Engraved with “This Magic Wand” along one side and “President Donald J Trump” along the other.
    He would love it and probably start reading CTH (that’d be a good thing)

    Liked by 3 people

  36. mr.piddles says:

    Very Stable Genius President Donald J. Trump… also known as: The Man With The Plan.

    Liked by 2 people

  37. TreeClimber says:

    Now the IT industry please… 😦

    Liked by 1 person

    • MrG says:

      The Praheet’s and Rakesh’s of the world are taking over IT-white men, particularly older white men are not wanted. I saw this building in 2017-when Praheet and Rakesh were giving me smug, condescending looks.

      So, when the IT support contract I was working expired in 1/2017- I got out.

      Cisco will probably hire you if you’re willing to sell your soul and your life while working for 15-20% less than standard IT wages.

      Like

      • TreeClimber says:

        My (Millennial) husband majored in IT, it’s (one of) his greatest talent(s), and the only one he’ll acknowledge. At this point it would be financially impossible for him to return to school to study in a different field, yes there are scholarships but how many go to you white more-or-less conservative males? Precious few. He’s stuck in contract work, mostly cable installation which is dangerous and bottom of the salary ladder and the bosses are abusive (first place he got beat up on by the boss’ roommate, who also worked there, the second place they gave him a truck with no air condition, no brakes, no shocks, and rusted clean through in several places, the third place they threatened to fire him because, essentially, he worked too fast. And now he just got let go last week from the fourth place, where they didn’t like him because, essentially, he worked too fast and the team lead couldn’t keep up and they didn’t like it.)

        So yeah, I want the IT industry back.

        Liked by 2 people

  38. tommy651 says:

    a story nowhere to be found in the democrat party-media complex.

    Like

  39. andy says:

    some may say i was underpaid over the years.
    Tough times since 2008.
    I received a 10% raise this year, perhaps in part to make up for the years I didnt get one.

    Like

  40. Beverly says:

    I love the clueless “DESPITE the government shutdown” that all the Mediots are using. Because we all know that a huge-arse government is like Miracle-Gro for business!

    yeah, right

    idiots

    Liked by 1 person

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