August Job Creation Rebounds — “Fueled By Tax Cuts,” Notes AP, Bloomberg…. Record Low African-American Unemployment

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WINNING: August Job Creation Rebounds — “Fueled By Tax Cuts,” Notes AP, Bloomberg.

Do Democrats really want to run on reversing December’s tax cut? The August job report beat expectations, as the US economy added 201,000 jobs last month and the U-3 unemployment rate held steady at 3.9%. Labor force measurements fell back, however, as the Household survey demonstrated even more instability in its measurements, and revisions cast a pall on the summer:

Total nonfarm payroll employment increased by 201,000 in August, and the unemployment rate was unchanged at 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, wholesale trade, transportation and warehousing, and mining.

The unemployment rate remained at 3.9 percent in August, and the number of unemployed persons, at 6.2 million, changed little. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (3.5 percent), adult women (3.6 percent), teenagers (12.8 percent), Whites (3.4 percent), Blacks (6.3 percent), Asians (3.0 percent), and Hispanics (4.7 percent) showed little or no change in August.

Jobs, that is, for the lucky few who weren’t literally murdered to death by the tax cuts and/or ending net neutrality.


Plus: 6.3%: African-American Unemployment Rate Second-Lowest Ever.

The midterm election is about “safety and jobs,” President Trump told a campaign rally in Montana Thursday night. He said the economy is “booming like never before,” and on Friday, the unemployment report brought the president more good news: the unemployment rate for African Americans, 6.3 percent, is the second lowest on record (it was 5.9 percent in May);  and job-growth remains strong.

For Hispanics, the unemployment rate increased two-tenths of a point from last month’s record low of 4.5 percent. And the overall unemployment rate remained at a low 3.9 percent.

Worst. Racist. Ever.


h/t SG

See also  foobar on Twitter: Exchanges should not be in the business of credit creation. While tradfi banks can expand or contract the money supply, exchanges have no such power.

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