The November jobs report was recently released and it is great news for everyone unless you happen to be one of the two dozen Democrats hoping to challenge Trump in 2020. As one story covering the November report revealed, the numbers are encouraging for almost everyone, and for many reasons.
Our story began by sharing that “the U.S. economy added 266,000 jobs for the month and the unemployment rate fell to 3.5 percent, matching the lowest level in 50 years.” There is even more good news inside those numbers but this alone is great news for at least 96.5 percent of us.
This is also the time of year when we all need a few more dollars, we have a few more things to pay for, not expenses, but gifts. Holiday events, parties, travel, and food are just a few of those reasons we all spend a little more, right? So the timing of this news literally couldn’t be better, and especially for those who have recently come through a recent downturn.
These numbers also aren’t reflective of a specific event or one industry boom that can sometimes skew the totals. No, this report revealed strength and gains across every sector. While the GM strike coming to a close obviously helped boost manufacturing numbers, the numbers show a reason for holiday cheer for virtually every industry.
An example of those positive numbers, as the story shared, looked like those aforementioned gains in “manufacturing, which had been a source of weakness in earlier reports, added 54,000 jobs. This was boosted by the end of the strike at General Motors, with autos adding 41,000… Healthcare added 45,000 jobs, as did leisure and hospitality. Employment in professional and technical services grew by 31,000.” That is a growth in hiring across many major sectors and evidence of an economy that’s working.
The good news doesn’t stop with those raw numbers, but inside these statistics, we discover that these numbers also reflect an improvement in the quality of jobs being added. That quality is quantitative as well, as in increasing wages. According to the report, “average hourly wages are up 3.14 percent compared with last year, ” and that includes employees of various rank. The story also added that the “average hourly wages of private-sector production and nonsupervisory employees rose by 7 cents in the month to $23.83, a 0.22 percent gain.”
This is good news for the holiday season and the economy. It also sets the course for a strong beginning to the new year, and for the nation as a whole. Yes, this is a great report for everyone, at least everyone not named Biden, Warren, Buttigieg, Bloomberg…, yeah, those people.
No sitting President has ever lost a reelection bid while guiding a thriving economy – ever. The truth is, that’s because it is the single most important thing to the vast majority of American citizens. It is how we take care of our families, provide, eat, and it is what we demand from the highest seat in the land – above all else. That is why this report is very bad news for the Democratic Presidential candidates.
When our story shares numbers from the November report that say “The number of Americans working rose to 158,593,000 a record high. That is the sixth consecutive record high for this metric” it looks like a very gloomy forecast for the Dems. Meanwhile, the other nearly 97% of us will be celebrating this holiday season.
Some will be celebrating because of that new job. Others will be celebrating because of that raise or because of the job security a strong economy has offered in 2019. And we can all celebrate the direction of the country and also celebrate the holidays a little easier this year because of this news.
Tis’ the season, and for many Americans, it will be a holly jolly holiday season. For the economy, it is news of the growth and strength that will only be boosted by holiday spending and for the President? Well, if history is any indicator this looks like it will be a very Merry Christmas – and an even better New Year, or four.