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Thursday, December 07, 2017

Manufacturing adds most jobs in 15 years

“Some of those jobs of the past are just not going to come back. And when somebody says, like the person you just mentioned who I’m not going to advertise for, that he’s going to bring all these jobs back. Well, how exactly are you going to do that? What are you going to do? There’s no answer to it. He just says, ‘I’m going to negotiate a better deal.’ Well how exactly are you going to negotiate that? What magic wand do you have, and usually the answer is he doesn’t have an answer.”
--Barack Obama



Obama would make a great president.

Of Venezuela.

Those who can do. Those who can't teach constitutional law.

Here in the real world, President Trump is rolling back regulations, and re-negotiating trade deals.

Trump got China to commit to a quarter-trillion investment in U.S. One third of that is in West Virginia, which Democrats gave up on in the 1970s.

From Reuters:
U.S. private-sector employment growth eased in November even as the manufacturing sector added the most jobs in at least 15 years, a report by a payrolls processor showed on Wednesday.
Private employers added 190,000 jobs last month, down from an unrevised 235,000 in October, the ADP National Employment Report showed. That was roughly in line with expectations for a gain of 185,000 jobs in a Reuters poll of economists, with estimates ranging from 150,000 to 240,000.
The report is jointly developed with Moody’s Analytics.
“The job market is red hot, with broad-based job gains across industries and company sizes. The only soft spots are in industries being disrupted by technology, brick-and-mortar retailing being the best example,” Mark Zandi, chief economist of Moody’s Analytics, said in a statement. “There is a mounting threat that the job market will overheat next year.”
The labor market finally has demand reaching supply.

But while the price of labor -- wages -- is going up, the cost of labor is in decline.

That's because workers are more productive.

From Fox News:
U.S. worker productivity rose 3 percent in the third quarter, the best showing in three years, while labor costs fell for a second straight quarter.
The increase in productivity in the July-September quarter was double the 1.5 percent gain in the second quarter and both quarters were up significantly from a scant 0.1 percent rise in the first three months of the year. Labor costs fell 0.2 percent after an even bigger 1.2 percent decline in the second quarter.
The third quarter figure for productivity was unchanged from an initial estimate while labor costs were initially estimated to have risen by 0.5 percent.
Economists are hopeful that the upturn in productivity may be a sign that this key measure of living standards is improving after a prolonged period of weakness.
Economists believe finding ways to increase productivity, the amount of output per hour of work, is the biggest challenge facing the economy right now. They say that without an improvement, the Trump administration will have difficulty reaching its goal of doubling economic growth in coming years.
In summary, labor was worth 3% more, but it cost only 1.5% more.

More workers, higher wages, no inflation. Best of all: Ron Rurber's modest 401-k is growing.

That may be an anomaly. Everything can be an anomaly.

But one thing is sure: Trump believes in America. That is why we elected him president.

MAGA.

@@@

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The first was "Trump the Press," which covered his nomination.

The second was "Trump the Establishment," which covered his election.

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As always, Make America Great Again.

10 comments:

  1. WARNING: Do not click the link unless you want to face a life-sized in-your-face picture of his horse-toothed grin.

    Former president credits himself for strong economy
    At a conference of mayors in Chicago, Mr. Obama congratulated himself Tuesday for strong employment numbers in the U.S. this year, saying his climate-change policies have contributed to growth.

    ReplyDelete
    Replies
    1. Anyone who believes that will believe anything.

      Delete
    2. Agreed. My husband saw this on FBN a while ago and said the audience cheered. Someone on Fox asked if those people were in a parallel universe.

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    3. Obama has the most magnificent delusions of grandeur!

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    4. Speaking of horse toothed grins, as the saying goes, 'You can lead a horse to water but you cannot make him drink.'
      Why is it that so many are blindly invested in Obama when the facts clearly show him to be unworthy?
      A case of cognitive dissonance to be sure but nonetheless...
      Its a little early to tell but I won't be surprised should the Dems run Michelle O in 2020.
      Its about the only legit way that they can get the Obamasiah back into the Presidency without a civil uprising.
      You heard it here!
      SC

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    5. Anon, supposedly Donna Brazile is 'trashing' HRC in order to help Michelle O in 2020.

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    6. Might work; we've never had a wookie as president before.

      Delete
  2. Cut taxes, cut regulations, open up new energy sources - all things the lying effing Marxist Barack Obama COULD have done. In every case he did the opposite.

    ReplyDelete
  3. 1st Prediction For 2018: The Black Jesus will state, at a conference hosted by Goldman Sachs (and for which receives a nice little stipend of $500k), that he too has raised a man from the dead.

    ReplyDelete
  4. President Trump does have a magic wand. It's making Obama disappear. See? He's wiping away the Obama stain, like with a cloth.

    {Audience cheers!}

    ReplyDelete