Tag: UNEMPLOYMENT

Art of the Comeback? Record 2.5 Million Jobs Added! Unemployment Falls to 13.3%

TOPSHOT - US President Donald Trump speaks during a 'Evangelicals for Trump' campaign event held at the King Jesus International Ministry on January 03, 2020 in Miami, Florida. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)

By

JOHN CARNEY

The unemployment rate fell to 13.3 percent and payrolls unexpectedly rose by 2.5 million workers as the easing of restrictions on business activity and government aid led to new hiring in May.

The U.S. unemployment rate fell below last month’s record-high 14.7 percent, which was the highest on record in data going back to 1948. Economists estimate that the unemployment rate reached 25 percent during the Great Depression, although that predated the scientific economy-wide record keeping the government now deploys.

The job gains mark a sudden turnaround from a month earlier, when the economy shed a staggering 20.5 million jobs, by far the worst monthly decline on records back to 1939.

Economists had expected the unemployment rate to rise to nearly 20 percent and the economy to shed an additional 8 million jobs.

The mandatory closures of many businesses and stay-at-home orders slammed what had been a very healthy labor market hard. The economy added jobs for 113 straight weeks through February, a record streak of growth. The unemployment rate was 3.5 percent in February. And yet job creation was running very hot, with the economy adding an average of 211,000 new jobs each month.

The government has undertaken unprecedented efforts to support employment and provide aid to those who have lost their jobs. Around 150 million taxpayers received stimulus payments of up to $1200 for adults in their household plus additional amounts for children. The Treasury’s Paycheck Protection Program is backing $669 billion of loans to small businesses that can be forgiven if borrowers do not lay off workers. The federal government has been providing an additional $600 on top of state unemployment benefits, paying some Americans more than they earned on the job.

Recent data suggest the labor market has been stabilizing and is now improving. The number of people applying for unemployment benefits has declined every week since hitting a record high 6.8 million in March. Last week, this number fell to around 1.8 million. Over 40 million new claims have been made for unemployment since the wave but ongoing claims are just over 20 million, indicating many Americans have been rehired after losing jobs.

In May, employment in leisure and hospitality jumped by 1.2 million after falling by 7.5 million in April and 743,000 in March. Bars and restaurants hired an additional 1.4 million workers following a combined 6.1 million in job losses in April and March.

Construction employment jumped by 464,000 in May, gaining back almost half of April’s decline.

Dentist offices added 245,000 jobs. Health care employment overall rose by 312,00.

Retail shops added  368,000 jobs in May, after a loss of 2.3 million inApril. Over-the-month job gains occurred in clothing and clothing accessories stores were 95,000. Auto dealers added 85,000. General merchandise stores added 84,000.

Manufacturers added 225,000 jobs, about evenly split between the durable and nondurable goods components. Twenty-eight thousand of those were in auto making plants.

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Warning to Deep State Dems and Coastal Elites: Good Americans Will Not Allow Their Innocent President to Be Impeached by Corrupt Politicians over Nothing!

by Joe Hoft October 7, 2019

Americans are beyond angry with the actions the Democrats, elites, the Deep State and their media.

President Donald Trump is a great man and the greatest President of this generation.

His list of accomplishments is unending and proves his devotion to the country.

*The highest stock markets ever – up nearly 50% since his election win
*The most stock market all time daily highs in a year (71)
*The most stock market all time daily highs in a row (12) – tying Reagan
*The largest stock market rally in a day – over 1,000 points
*The lowest overall unemployment in 50 years currently at 3.5%
*The lowest unemployment ever for women, Hispanics and blacks
*The most Americans working in history
*More job openings that employees
*Massive wage increases, especially in the lowest income workers
*Medium level income at highest levels ever recorded
*Over 6 million new jobs since 2017 (good paying jobs too)
*American energy independence for first time in decades
*American energy exporter first time in decades
*Out of Obamacare mandate which forced Americans to pay tax penalty for not affording insurance
*Millions of Americans off of food stamps
*Strongest military ever
*Started Space Force – preparing America for space age defense
*Destroyed evil ISIS in Syria/Iraq after Obama said they would be there for a generation
*Got US out of horrible Obama trade deal with China and Asian countries giving away US jobs
*Drafted new trade deal with Canada and Mexico (USMCA) which will save US jobs
*Drafted new trade deal with Japan
*Drafted new trade deal with Korea
*Standing up to China in trade and intellectual property theft
*Signed lowest corporate tax rates in decades helping US companies and workers
*First President to step inside North Korea
*First President to meet with North Korea leader in effort to achieve peace
*Standing up for America in NATO requesting EU countries to pay fair share
*Record number of regulations eliminated
*Two new Supreme Court judges
*More than 100 new District judges
*Withdrew from horrible Paris accords
*Withdrew from horrible Iran deal

The WhiteHouse.gov lists many,many more.

In addition to all of this, the President was forced to follow the most corrupt administration in US history. 

As a result of the Obama Administration:

*The FBI is no longer trusted let alone respected due to its leaders actions related to Comey, Strzok, Page, McCabe, and others in passing on Hillary crimes while attacking candidate and President Trump
*Corrupt Obama judges like Amy Berman Jackson who put 70 year old Paul Manafort in solitary are still in place
*The DOJ is full of corrupt lawyers who were involved in Obama Administration coverups and illegal and sinister Deep State actions to spy on candidate and President Trump in efforts to prevent him from winning the election and then attempting to remove him from his Presidency
*The media is corrupt. Mainstream outlets like the New York Times, WaPo, CNN, MSNBC, ABC, CBS, NBC, etc, etc… are all in the tank with Obama Democrats. They praised him like a god during his realm and now follow his lead in slandering President Trump and ignoring his many accomplishments
*NeverTrumpers and other elites on the right side of the isle (e.g. Mitt Romney, etc..) have shown their real colors and lack of integrity due to their hate for President Trump. They would have preferred Hillary.
*Numerous acts of bribery and extortion were present in Obama’s world and this bled down to into the government as a whole. It appeared that all of DC was corrupt.

Ultimately, President Trump’s greatest accomplishment is that he beat Corrupt Hillary in the 2016 election.  He arguably is the only one who could have beaten her.  The Clinton’s had a machine and no one dared stand up to her but candidate Trump.  Trump pointed out her many corrupt acts and won the greatest election of our lifetime.

The corrupt actors from the DNC, Deep State and media are not happy with President Trump.  They have done all they can to remove him.  Candidate Trump overcame their illegal acts during the election and then the corrupt Mueller investigation, where the President was investigated for no crime for more than three years when you include time before the election.

The Mueller investigation was not an investigation but an obstruction trap.  They did everything they could to get the President to do something they could claim was obstruction but he did not fold.  They brought his son in for hours of testimony, his daughter and her husband, they set up his son in Trump Tower, they invaded his personal attorney’s office, storage locker and home.  They stole documents from his transition team.  They set up and arrested his NSA General Mike Flynn who still is involved in the courts today.  Everyone he knew or touched was investigated, against the law using the Special Counsel Act, but President Trump stood firm.

The President was berated by the far left media every day.  They called him a traitor and fraudulent President.  They claimed he worked with Russians to win the election which never made sense because he was later attacked with dirt supposedly coming from Russia.

President Trump thrived in all of this like no US President since Abraham Lincoln during the Civil War.  Lincoln survived the war started by Democrats who wanted to keep their slaves only to be assassinated a couple weeks after the Civil War’s end.  The Democrats still want Americans to be their slaves!  They seek ultimate power.  This is why America voted for Trump!

Now the Deep State wants to remove President Trump from office in another bogus attempt to manipulate the law to their liking.  This is not how the law is supposed to be used in this country.  Obama destroyed the proper use of the law.

Democrats, their media and their Deep State want to rake the President through more shame and lies and then impeach him based on lies and no crimes.  They do this to prevent their crimes during the Obama years from being outed and them held accountable.  They have to make something up to take down Trump.  Their lies rank them with former totalitarian regimes and banana republics. 

Impeachments are to be only used in rare circumstances.  Again, there is no crime.  The Democrats won’t vote on an impeachment exercise so the President can fight back against them in the courts.  They don’t want Americans to see that this is a one-sided exercise.  A vote would show this.  They want to act quickly and vote on impeachment so they can use this against President Trump and punish him and those who voted for him!

WE WON’T LET THEM!

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Sorry Democrats and Never-Trumpers… Import Prices are Down Despite Trump Tariffs!

CAP

by Joe Hoft September 13, 2019

President Trump has said for years that the US was hurt by politicians that didn’t protect US jobs.  He decided to do something about and the US is winning because of it!

The far-left Washington Post wrote in August that President Trump’s tariffs will cost the average family hundreds of dollars a year –

More than a year into the U.S.-China trade war, American consumers are about to find themselves squarely in the crosshairs for the first time, with households estimated to face up to $1,000 in additional costs each year from tariffs, according to research from JPMorgan Chase.

Consumers, whose spending fuels about 70 percent of the U.S. economy, have been largely shielded from previous rounds of tariffs, which have left businesses reeling and upended global supply chains. But that’s about to change with the 10 percent levies on roughly $300 billion in Chinese imports, about a third of which will take effect Sept. 1. Those tariffs will primarily target consumer goods.

But it was just more fake news from the far left Washington Post.

Sorry liberals, Trump’s tariffs are having little to no impact on the cost of goods to the consumer.

The Bureau of Labor Statistics reported this morning that the costs of imports actually went down in August.

Prices for U.S. imports fell 0.5 percent in August following a 0.1-percent increase in July and a 1.1-percent decline in June. With the exception of the August and June decreases, U.S. import prices advanced in each month of 2019. Despite the increases, the price index for U.S. imports declined 2.0 percent from August 2018 to August 2019. (See table 1.)

Fuel Imports: Import fuel prices decreased 4.3 percent in August, after rising 0.7 percent the previous month. Prices for import fuel fell 11.1 percent over the past 3 months. In August, lower petroleum prices more than offset higher prices for natural gas. The price index for import petroleum declined 4.8 percent, after increasing 0.9 percent the previous month. Fuel prices decreased 8.7 percent over the past 12 months; prices for import petroleum fell 9.6 percent over the same period. The price index for natural gas imports rose 16.0 percent in August, after declines in each of the previous 4 months. Despite the August increase, natural gas prices fell 6.1 percent over the past year.

All Imports Excluding Fuel: Prices for nonfuel imports were unchanged for the second consecutive month in August following 0.3-percent decreases in both June and May. In August, lower prices for foods, feeds, and beverages and nonfuel industrial supplies and materials were offset by price increases for automotive vehicles and consumer goods. Prices for nonfuel imports declined 1.0 percent over the past 12 months, led by price decreases for industrial supplies and materials and capital goods.

President Trump said years ago what he would do years ago about China to stop their theft of American jobs – tax China 25%.

Winning, Winning, Winning!

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MCDONALDS TO REPLACE MORE HUMAN EMPLOYEES WITH DRIVE-THRU AI

McDonalds to Replace More Human Employees With Drive-Thru AI

How’s that $15 an hour looking now?

McDonalds is set to replace more human employees with automated technology after the company announced that it intends to use a new AI program to take drive-thru orders.

The food chain has acquired Mountain View-based voice tech startup Apprente in order to “alleviate pressure on restaurant employees.”

More like alleviate them of their jobs.

The technology can handle “complex, multilingual, multi-accent and multi-item conversational ordering,” allowing for “faster, simpler and more accurate order taking,” according to reports.

“McDonald’s plans to roll out self-service kiosks across all US restaurant locations by 2020 – reducing the need to employ as many human cashiers,” reports Zero Hedge.

How’s that $15 dollars an hour paycheck working out for you now?

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Jobs Stay Solid: 130,000 Created in August, Wages Up 3.2% Black Unemployment to Record-Low 5.5% Labor Force Participation Rate Still Climbing

CAP

By John Carney

The U.S. economy created 130,000 jobs in August and the unemployment rate remained steady at 3.7 percent.

Economists had expected the economy to between 150,000 and 180,000 with the median consensus at 163,000, according to Econoday. Unemployment was expected to remain unchanged. Last month’s jobs figure was originally reported at 164,000, now revised down to 159,000, and unemployment was 3.7 percent.

Although the headline number was weaker than expected, wage growth was strong in August. Average hourly earnings for all employees on private nonfarm payrolls rose by 11 cents to $28.11, or 0.4 percent, following 9-cent gains in both June and July. Over the past 12 months, average hourly earnings have increased by 3.2 percent. In August, average hourly earnings of private-sector production and nonsupervisory employees rose by 11 cents to $23.59.

Unemployment among African Americans fell to 5.5 percent, the lowest level on record.

The labor force participation rate edged up to 63.2 percent in August, indicating that the strong labor market has continued to draw Americans into the workforce.

The largest job gains came from professional and business services, which added 37,000.  Census hiring boosted the federal government’s hiring to 28,000 workers. Health care added 24,000 to the total while financial services increased by 15,000.

There were little to no gains in August for construction, manufacturing, transportation and warehousing, and leisure and hospitality. Holding the line on manufacturing jobs is a sign of strength given signs that manufacturing activity fell this summer.

The retail sector shed 11,ooo jobs, with department stores losing 15,000 jobs (partially offset by gains in other retail venues). Over the year, so-called “general merchandise” retails jobs have fallen by 80,000.

While the economy continued to grow in the second and third quarter, it has slowed from the rapid 3.1 percent rate of growth in the first three months of the year. Manufacturing appears to have contracted and business investment has been weak, with surveys indicating that uncertainty around trade policy and global economic weakness have become a drag on the U.S.

Consumer spending and the labor market have been strong. Data released Thursday showed worker compensation rising strongly and well-above inflation. Rising labor costs can promote capital investment by businesses seeking to make workers more productive.
With unemployment near 50-year lows, job growth has slowed and many businesses say they are having trouble hiring. Employment growth has averaged 158,000 per month thus far this year, compared with an average monthly gain of 223,000 in 2018.

 

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CIA WHISTLEBLOWER WARNS: FEDERAL RESERVE IS ‘OUT TO GET PRESIDENT TRUMP’

CIA Whistleblower Warns: Federal Reserve Is ‘Out To Get President Trump’

Central bank will ‘manipulate 2020 election and make any recession look like Trump’s fault and not the Fed’s fault,’ says Kevin Shipp.

 – AUGUST 19, 2019

The Federal Reserve has been using its central bank powers in an attempt to tank the economy to blame President Trump and manipulate the 2020 election outcome, according to CIA whistleblower Kevin Shipp.

“He [Trump] has got the Fed shaking in their boots. When the Fed gags its board of directors and its members, that is not good,” Shipp said on “USA Watchdog” with Greg Hunter on Saturday.

“Something not good is going on. Perhaps they are bringing the interest rates down to zero. Perhaps it’s the fact we are entering into, not only U.S., but a global recession. So, they have put the lid on any comments coming out, and I think they have done it for a reason that is concerning…”

“Trump is at war with the Fed, and the Fed has put a lid on all its people. It’s a gag order to keep its people from talking about what the Fed plans to do,” he continued.

“I think it is tied to an upcoming global recession, and we may see quantitative easing (money printing) rates go to zero, and they don’t want the President or the public to know what they are about to do,” Shipp added.

The Fed’s attempts to ruin Trump are obvious given how it behaved during Obama’s presidency, such as its excessive money-printing policies and holding interest rates at 0% for most of Obama’s tenure.

“So, it is apparent the Fed waited until Trump was elected to start hammering and pounding on the economy, which apparently they did not want to do under Obama,” Shipp said. “Can you raise the suspicion that the Fed is against Trump or that the Fed is trying to take the credit for the economy away from Trump? I think that appears to be entirely possible…”

“Trump has said it exactly right, it’s a war between Trump and the Federal Reserve, which, of course, is not federal and it has no reserves…

Shipp said that Trump is aware of the Fed’s moves and is correctly planning to shift blame to the Fed for any economic correction or collapse because it is the progenitor of America’s boom/bust cycles.

“In my view, I think that Trump is convinced that the Fed is going to try to destroy the advances in the economy to make 2020 less possible for re-election and actually manipulate the political landscape,” Shipp said.

“I think Trump is clearly and wisely aware of what they are doing…I think Trump thinks the Fed is going to manipulate the 2020 election and make any recession look like Trump’s fault and not the Fed’s fault.”

“God bless Donald Trump because he is the first President to call out the Fed like he is doing,” Shipp added. “Trump has been right all along.”

Trump called out the “very selfish” Fed on Monday, saying they should lower interest rates back down because the dollar is so strong thats it’s actually weakening the global economy.

 

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