Wall Street SOARS after US job growth ROARS back in November, with 266,000 added

Wall Street SOARS after US job growth ROARS back in November, with 266,000 added

What President Trump has accomplished for the American economy is a miracle. Imagine what President Trump could have achieved if he wasn’t fighting the corrupt Democrats from destroying his presidency. The Democrats know that they can’t beat Trump in 2020, so they are attempting to destroy his credibility with this sham impeachment. Fortunately the Democrats will fail once again. President Trump will be re-elected in 2020 in a landslide.

By NBC, December 6th, 2019:

The economy added 266,000 jobs last month, partly boosted by returning workers from General Motors who had been on strike in October. The blockbuster November number was much higher than economist expectations of 187,000.

Unemployment ticked back down to a historic 3.5 percent — the lowest rate since 1969 — and wage growth rose to an average hourly rate of 3.1 percent, according to data released Friday by the Bureau of Labor Statistics.

Wall Street reacted favorably to the blowout numbers: The Dow Jones Industrial Average soared by 220 points at the opening bell, with the S&P 500 gaining 0.72 percent and the Nasdaq composite index rising by 0.8 percent.

October’s monthly jobs total of 128,000 was revised upwards to 156,000. Those numbers both reflected almost 50,000 absent GM workers not included in the jobs count due to their participation in a six-week strike organized by the United Automobile Workers labor union. November’s data also includes around 12,000 people additionally affected by the strike.

Prior to Friday’s figures, the economy had added 1.67 million jobs so far in 2019, the lowest total in the past nine years. The average monthly total for 2019 was at 167,000. While nowhere near as robust as last year’s monthly average of 233,000, it is well above the 100,000 required per month to keep pace with growth in the working population.

Article URL : https://gellerreport.com/2019/12/america-working.html/

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