Historic U.S. Job Market Continues as African-American Unemployment Rate Hits New Low
(November 1) QUOTE: Today, the Bureau of Labor Statistics (BLS) released its monthly Employment Situation Report, which shows continued employment growth and a low unemployment rate in October. Job gains at this point in the business cycle are particularly noteworthy considering that the United States is in the midst of the longest economic expansion in its history.
BLS’s establishment survey shows total nonfarm payroll employment increased by 128,000 jobs last month, far exceeding the median market expectation of 85,000. Including a substantial upward revision of 95,000 total jobs for the months of August and September, and controlling for the estimated 60,000 decrease because of the recently resolved General Motors (GM) strike and the 20,000 decrease from temporary U.S. Census workers finishing their work, this report highlights the creation of over 300,000 new jobs.
Since the President’s 2016 election, the economy has added over 6.7 million jobs—more than the combined populations of Wyoming, Vermont, Alaska, North Dakota, South Dakota, Delaware, Rhode Island, and Montana in 2018. Additionally, this total is 4.8 million more jobs than the Congressional Budget Office projected would have been created in its final forecast before the 2016 election… UNQUOTE
MY COMMENT: Trump is still winning for America. All Democrats can do is hate and lie, while Trump is making America great again!