MAGAnomics: July Jobs Report, 164,000 Job Gains, 3.2% Wage Growth, 163.4 Million Working….

The Bureau of Labor Statistics (BLS) releases the jobs data for July.  Overall employment rose by 164,000 new jobs; that’s great.  Average hourly wages grew by 8 cents to $27.98, a year-over-year growth of 3.2 percent; again great.  163.4 million people working is the highest number of people working in history; more good news. [Data release link]

However, there’s an even better result in a very important data-point.  363,000 people moved from part-time to full-time employment.   The move from PT to FT employment is a key indicator of a very strong economy and workers are benefiting in benefits, wages, and total compensation which now exceeds 5.5 percent growth.

[CNBC NEWS] Economists had expected the unemployment rate to drop to 3.6%, which would have tied a 50-year low, but an influx of 370,000 new workers to the labor force brought the participation rate up to 63%, its highest since March. The total labor force of 163.4 million set a record high.

The report “illustrates that, for all the concern over weak global growth and trade policy, the domestic economy is still holding up reasonably well,” said Andrew Hunter, senior U.S. economist at Capital Economics. (read more)

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59 Responses to MAGAnomics: July Jobs Report, 164,000 Job Gains, 3.2% Wage Growth, 163.4 Million Working….

  1. Bigly says:

    I’m not being negative, just genuinely curious. I recall Reagan had a few months of over 700k jobs. Are those days over?

    Like

    • FL_GUY says:

      President Reagan had 50,000 more manufacturing facilities that don’t exist today due to NAFTA and China. It will take a while for some of these facilities and hence, jobs to come back to the USA.

      Liked by 9 people

      • Mr. T. says:

        In spite of praises for President Reagan, his economic policies were good short term and very bad long term. As I’ve stated before, it was President Reagan who lifted the quota restrictions for imported vehicles, especially for ones coming from Japan. That change in policy caused a lot of long term harm to our US Auto Industry, as well as to our steel mills and so forth. It wasn’t long after the import restrictions were lifted, that Japan began to flood our US markets with their vehicles. President Trump on the other hand, understands a lot more about economics than President Reagan ever did and has been taking the necessary steps to protect our country’s economics rather than to harm us like previous administrations have done. Bush 41 was a pimp for NAFTA who helped to put that disastrous deal together. Billy Bob Clinton was the jerk who signed it into law, officially selling the US Economy down the river. Bush 43 didn’t do a damn thing to help this country economically, and as we all know, it was on his watch when our nation’s economy tanked badly in 2008. Obama did nothing either to help our nation’s economy, going so far as to tell our nation’s citizens, that those manufacturing jobs that went overseas aren’t coming back. Well, we know that was a big fat lie, just like his lies about Obamacare were. Thanks to President Trump, many of those manufacturing jobs have come back to the US and more are on the way back.

        President Trump….Making America Great Again!

        Liked by 6 people

        • POST of the DAY, Mr T!

          Liked by 1 person

        • LoonsCall says:

          Reagan also eliminated the liability for childhood vaccine injuries back in 1986.. imo, for this, he cannot ever be forgiven

          Like

          • LoonsCall says:

            can’t even believe I just said injuries.. deaths!!! What is it that they call it. Crib deaths, SIDS, “cause unknown”.. doesn’t take a rocket scientist. Ronald Reagan took away all liability for loading these infants up with toxins.. maybe HE didn’t even know the load that would eventually be put on these tiny infants & children.. but he had to have known the possibilities

            Like

            • LoonsCall says:

              Sudden Infant Death Syndrome.. how many millions of people have been suckered onto that.. it is so utterly shameful that people glom onto that.. infant mortality rate in the U.S. is utterly disgusting, criminal & shameful.. when will people wake up

              Like

              • LoonsCall says:

                if your baby manages to survive the first year of all of those shots, then wait, they have an extra special one waiting for them, the MMR nonsense.. & if that doesn’t do the trick, they have another “booster’ waiting.. they won’t stop. apparently there are another almost 300 vaccines waiting in line.. & not just for kids

                Like

                • LoonsCall says:

                  no wonder people have deathly allergies.. often these shots are made with excipients like peanut oil, eggs & many other things.. once injected. then later ingested, the body has a massive allergic response, often needing epi pens.. guess who has a financial interest in epi pens.. yes, hillary

                  Like

    • Kaiser Derden says:

      remember we where transitioning to women in the workforce still … plus the unemployment rate was higher (i.e. more unemployed to hire) … we currently have over a million unfilled jobs begging for workers out there … but the days of 500k+ hires in a month is long gone I’m afraid …

      Like

      • Ad rem says:

        Found in the bin… 😦

        Like

      • SwampRatTerrier says:

        I’ve pretty well concluded that the “Women’s Liberation” movement was CO-OPED by the U.S. Chamber of Commerce and encouraged by them in order to FLOOD the U.S. Labor Market with new labor.

        That extra new labor supply, along with illegal aliens, worked to depress wages greatly.
        Just what the U.S. Chamber of Commerce loves – powerless labor on slave wages.

        Like

        • TreeClimber says:

          With the added “benefit” of the government getting the kids all day every day, training them how they wanted them to be!

          Like

    • SwampRatTerrier says:

      It is good to remember.

      Remember how Obama was counting…what was it….25 hours a week as a Full-Time Job….I believe it was.

      Like

    • dufrst says:

      You’re not going to get those numbers this late in the business cycle. Reagan has those numbers after two recessions back to back in the early 80s. You’re comparing apples to oranges. What Trump is doing 10 years into the longest economic expansion in US history is unbelievable!

      Liked by 2 people

  2. I would say to the President and Crew. Good Job, Good Job You!

    Liked by 1 person

    • trnathens says:

      He’s gong to halve, or, more likely eliminate the national debt by the time eight years is over. All politicians will look stupid. Why do we think politicians know ANYTHING about economics, or the subtleties of protocol (Trump is a genius at using words, phrases, and concepts that ingratiate him to other countries. He might not be popular here, but he’s incredibly popular overseas, especially in Asia)

      Just watch and see.

      Like

  3. FL_GUY says:

    Americans have jobs, D-Rats outraged that Americans have jobs and want to put a stop to it; every damn one of them has said so.

    President Trump is repairing an economic system that has been intentionally destroyed for decades, and doing so with both hands and one leg tied behind his back, while fighting the Globullists, elitists, D-Rats, Rinos and media-rats. President Trump is amazing. Things are good now, imagine how great things would be if the entire world was not fighting against him.

    Liked by 9 people

    • … PLUS Fighting the Fed!

      Like

    • Mr. T. says:

      FL_GUY, I have to laugh at some of those leaders that were fighting against him. The leaders of France, United Kingdom, Germany and Canada, are all eating humble pie now and struggling to survive. May is gone. Looks like Trudeau may be the next one escorted to the door. Merkel’s party no longer has the big majority they once had, and she is on her way out. The president of France has seen his popularity decrease to the point where it is now on life support. When you see citizens in Europe stating they want someone like President Trump to lead their country, you know we are now the envy of the free world and that’s an awesome sight to behold.

      Liked by 1 person

  4. Sentient says:

    The yield on the 10 year Treasury Note has dropped from 2.56% on May 2nd to 1.86% today. A small mortgage refinance boomlet could spur consumer spending.

    Liked by 2 people

  5. The Boss says:

    Remember folks, the magic mulatto redefined full time work down to 30-hours / week, making him look like a job creator when he most definitely was not. Add in people leaving the job hunts and moving to SSDI and Viola! Like magic, the unemployment rate begins to fall.

    Liked by 4 people

    • hellinahandbasket says:

      Magic mulatto (ha!) …. perfect!

      Liked by 2 people

      • SwampRatTerrier says:

        Magic Mulatto Paki by way of Kenyan birthplace…………

        The only thing America about him was the label on his Fruit of the Loom under-roos
        “Made in America!”

        SNARK!!!!!!!!!

        Like

    • Janie M. says:

      Boss, if I am remembering correctly, the SSDI roles expanded greatly. Interestingly, many were men in their 50’s (w/back problems, etc.,). It was at that time, I had the realization, being able to find a full-time/well paying job (male or female) in that age bracket was going to be difficult. Much younger workers weren’t in the higher salary range, so they’d find it easier to gain employment. Bad times.

      Liked by 1 person

      • Mr. T. says:

        Yep. That was Obama’s way of fixing the high unemployment problems. Put citizens on welfare, food stamps, Medicaid, Section 8 housing, and put others on SSDI who should never have been approved for it. It’s much easier to control the masses when you have them dependent on government handouts. I loath the left socialist demodopes in this country, and especially what they tried to do to it.

        Liked by 3 people

      • ibobland08 says:

        I think the recession hit all age groups very hard. I was a younger worker at the time and it was very hard to find an entry level job. Many older workers did indeed take large pay cuts and were more desirable as they required a lot less training and they had more experience.

        Like

  6. scrap1ron says:

    How you like those crumbs, Pelosi?

    Like

  7. Ghost says:

    Observations from a smaller limb.

    Meanwhile on the other side of the ocean. German bonds yields have fallen into negative territory across all three larger time frames. Ten year dipped to -0.52% and thirty year fell to -0.006%.

    Eurozone bonds with negative yields reached 4.8 trillion about 60% of the total.

    Thinking a flight to safer havens with an actual return maybe in the offing here and will track.

    https://www.reuters.com/article/eurozone-bonds/update-1-entire-german-govt-bond-yield-curve-turns-negative-for-first-time-idUSL8N24Y326

    😎

    Liked by 2 people

    • Shark24 says:

      Boy those bond rates are like putting your cash in a mattress, only not as safe!

      Liked by 2 people

    • If POTUS can drive the Fed to play ball with Counter-Moves, we’ll fairly quickly BANKRUPT the EU SOCIALIST STATE and trigger a Restoration of NATION-STATE ALLIES on the Continent.

      Liked by 2 people

      • Ghost says:

        @ BlackKnightRides.

        Agree, ECB wants to stimulate their economies but haven’t any arrows in the quiver. Negative rates leaves them only with buying up government issued bonds. If things continue to slow down only fiscal policies changes could make a difference and Socialist don’t give up control willingly. Potential for EU meltdown is an easily foreseeable possibility.

        Also if the FED doesn’t play ball E.U. Has even more limited options as a real flight of capital due to major differential rates is a serious possibility. One shove.

        😎

        Liked by 1 person

  8. hellinahandbasket says:

    #OrangeManGood

    Liked by 4 people

  9. splat! says:

    .Earning a paycheck gives a person something that no government program can. Self-respect. Confidence. Pride (the good kind). President Trump is returning those feelings to the American people.

    Liked by 2 people

  10. Mr. T. says:

    President Trump….Making America Great Again. We are once again becoming the greatest industrial country in the world.

    Like

  11. keeler says:

    Which of these numbers are supposed to be those flashing warning signs we keep being told about?

    Like

    • See post below for unspoken insights.

      Like

      • Disgusted says:

        And the damage he did to our country was deliberate! He had goals and he met them! I still cannot look directly at any image of him, or listen to his voice on tape. Where he is right now is such a mystery! After Reagan, Carter, Clinton and both Bushes, this country was well aware of where all former presidents wound up after out of office. So how is it that O remains such a weird mystery? All I can say is Good Riddance, anyway🤣!

        Like

  12. Sporty says:

    How you like that Magic wand Obama?

    Liked by 1 person

  13. alliwantissometruth says:

    Well yeah, OK, President Trump has the economy roaring, jobs are more than plentiful and he’s fixing all the problems and destruction past globalist puppets wreaked upon us, and yeah, Obama pretty much destroyed everything, ruining the economy, lost our jobs and turned Americans against each other, but hey, you’ve got to admit, having an empty suit, community organizing “messiah” preaching hope and change was a really cool thing

    We were so hip and enlightened when he was in charge

    Everyone misses him……., well some people miss hi…….

    OK, no one misses him. Never mind

    Liked by 1 person

  14. RE: “363,000 people moved from part-time to full-time employment”

    INSIGHTS from the BLS Report:
    https://www.bls.gov/news.release/empsit.nr0.htm

    “… the number of long-term unemployed (those jobless for 27 weeks or more) declined by 248,000 to 1.2 million.”

    • The total Long-Term Unemployed DROPPED 17% in a SINGLE MONTH!

    “The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) declined by 363,000 in July to 4.0 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. Over the past 12 months, the number of involuntary part-time workers has declined by 604,000.”

    • Continued MONTHLY DROPS of 363,000 in the Employed Part-Time for Economic Reasons” would COMPLETELY CONVERT these 4 million Part-Time Workers to Full-Time Workers!

    Among the marginally attached [Workers not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey], there were 368,000 discouraged workers in July, down by 144,000 from a year earlier. [Discouraged workers are persons not currently looking for work because they believe no jobs are available for them.]”

    • At this rate, there will be ZERO Marginally Attached Workers by the end of President Trump’s first Term!

    “The change in total nonfarm payroll employment for May was revised down by 10,000
    from +72,000 to +62,000, and the change for June was revised down by 31,000 from
    +224,000 to +193,000.”

    * July’s 164,000 growth in employment was a 29% GAIN over the 127,500 average for May and June!

    INCREDIBLE numbers … that you’ll NEVER hear Fox Business credit to MAGAnomics.

    [Varney & Cavuto were ridiculous doom-and-gloomers this morning.]

    Liked by 4 people

    • Correction:

      • Continued MONTHLY DROPS of 363,000 in the Employed Part-Time for Economic Reasons” would COMPLETELY CONVERT these 4 million Part-Time Workers to Full-Time Workers … within 12 MONTHS!

      Liked by 2 people

    • TreeClimber says:

      Husband has gone from being a “discouraged worker” to being an “encouraged worker” and looking for something better – although with his going permanent, he’ll become eligible for raises and benefits now (including paid paternal leave, yay!)

      Liked by 1 person

    • jeans2nd says:

      There was a number during Obama’s years that told the percentage of the eligible workforce that was not working. It was really bad under Obama.

      No one reports that number anymore. But the numbers you gave as very encouraging. No wonder they are not reported. Thank you.

      Liked by 1 person

  15. Ozark says:

    I guess the stock market didn’t like all this good news, took another dive today to make it three days in a row.

    Like

  16. TreeClimber says:

    This may be only tangentially related to MAGAnomics, and if so please just delete, Ad Rem, but I haven’t been able to stop thinking about it since the other day seeing the post/s on the Presidential Thread dissing on Ivanka for being active in pushing for paid parental leave.

    I think we can all agree that legislation ordering companies what to do, especially when that order is to hemorrhage money, is a bad idea. However, being heavily pregnant myself, with a young toddler and no one else to help (no friends, no trustworthy family,) I really like the idea of my husband being able to take a week to stay home and help me with the kids so I can recover,*
    but we desperately cannot afford to lose the paycheck – so paid paternal leave sounds like a dream come true.

    Well, I’ve come up with a possible solution! Incentivize companies to offer paid parental leave – which will have the added incentive of bringing those workers back, after leave is up, instead of just quitting because “Oh, look, we can get along without the paycheck after all,” or instead of them looking for somewhere with better benefits – tax breaks (write it off on the tax forms) come to mind, although I’m sure if I thought long and hard I could come up with more.

    If this is already done I’m sure some wiser, more experienced Treeper will school me, but it just seems to me that there should be some way of taking care of our companies, workers, and families.

    *(Did you know maternal mortality is actually much higher in the first two months post-partum, due to women over-stressing themselves and it ends up literally killing them? Recovery is important!)

    Like

  17. jeans2nd says:

    The U.S. rate of savings has also increased under Pres Trump.. That means many, if not most, are no longer living paycheck to paycheck. Another number not reported.

    Like

  18. Perot Conservative says:

    What does this portend?

    Like

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