From the October jobs report as summarized by The Wall Street Journal.
- 131,000 new jobs
- exceeded expectations
- despite some 42,000 jobs lost to the union strike against General Motors
- upward revisions of 95,000 jobs in August and September
- job growth averaged 176,000 in the last three months, more than the 167,000/mo for all of 2019
- overall labor force participation rate rose to 63.3%, which is rising despite baby boom retirements
- employment ratio for prime-age workers, age 25 to 54, rose to 80.3%, highest since January 2007—since before the Panic of 2008
- jobless rate for African-Americans fell again to 5.4%
- new low since records have been kept
- third successive month at 5.5% or lower so it’s not a statistical anomaly
- labor participation rate for Hispanic-Americans reached 67.3%, best since September 2010
- rise in average hourly earnings averaged 3% over last year
- index of weekly payrolls rose more than 4% over last year, faster still for production and nonsupervisory workers
House Speaker Nancy Pelosi (D, CA), though, says these positive data
offer further evidence that the Republicans’ disastrous special interest agenda is hollowing out the middle class while enriching the wealthy and well-connected.
Do we really need someone so disconnected from reality in the people’s House?
Or is it that her impeachment hysteria is clouding her ability to interpret simple economic data? In which case: do we really need someone whose judgment is so easily confused in the people’s House?