The Bureau of Labor Statistics (BLS) releases the April 2019 jobs report and the results are excellent. It’s a home run for MAGAnomics as the trifecta continues: Job gains +263,000, Wage growth +3.2%, Inflation low at 1.4%.
With a gain of 263,000 new jobs in April, the overall unemployment rate dropped to 3.6%. There are more jobs available than people looking for work. Additionally, the prior two months jobs results were revised upward by 16,000 more than previous reported.
- Total nonfarm payroll employment increased by 263,000 in April, compared with an average monthly gain of 213,000 over the prior 12 months.
- Professional and business services added 76,000 jobs in April. Over the past 12 months, professional and business services has added 535,000 jobs
- In April, construction employment rose by 33,000. Construction has added 256,000 jobs over the past 12 months.
- Employment in health care grew by 27,000 in April and 404,000 over the past 12 months.
- In April, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents to $27.77. Over the year, average hourly earnings have increased by 3.2 percent.
- BLS Release Link
MAGAnomics: Low unemployment (3.6%); wages growing (+3.2%); inflation stable (1.4%). These measures all have a cumulative impact on paycheck-to-paycheck Americans. Prices for durable goods are stable and wage growth is exceeding inflation. That means more disposable income in the middle-class. Which, when combined with the increased pay from lower middle-class tax rates, is exactly the intended outcome of MAGAnomics.
Last week’s consumer spending results for the first quarter defied expectations. Consumer spending on goods increases 1.7%. Overall spending +.09 in March, reaches highest gain in ten years. The deplorables are spending their higher wages. Meanwhile core inflation drops to 1.4%. The pundits are shocked. This is Main Street growth and economic stability; this is not, repeat NOT, Wall Street growth.
We are in the period where exporting U.S. wealth (globalist policies) has been slowed/halted. We are confronting protectionist tariffs abroad which impede our exports, and simultaneously applying reciprocal tariffs toward those who want access to our U.S. market. As a consequence, capital investment is returning to Main Street USA (nationalist policy). This is the heart of MAGAnomic policy.
This internal dynamic means the U.S. consumer can fuel the the U.S. economy while President Trump, Secretary Ross, Secretary Mnuchin and Ambassador Robert Lighthizer utilize the leverage of tariffs, to negotiate better America-First trade deals.
We have not had the benefit of this blue-collar economic success in the past 30+ years because corrupt multinational interests were paying and bribing -via lobbyists- politicians and public officials within DC for policies that primarily benefited Wall Street. Those policies blocked Main Street growth and U.S. wealth; and exported jobs and incomes to foreign nations. President Donald J Trump has stopped this process.
♦The Modern Third Dimension in American Economics – HERE
♦The “Fed” Can’t Figure out the New Economics – HERE
♦Proof “America-First” has disconnected Main Street from Wall Street – HERE
♦Treasury Secretary Mnuchin begins creating a Parallel Banking System – HERE
♦How Trump Economic Policy is Interacting With The Stock Market – HERE
♦How Multinationals have Exported U.S. Wealth – HERE