Written by DML
You want to know why people are fighting for Trump?
Americans realize that the Trump administration — despite its shortcomings — is kicking serious butt when it comes to improving the economy.
One has to wonder what would be happening if the media would do its job, and if the GOP would get its act together and repeal and replace Obamacare.
FANTASTIC economic data hit today. President Trump should be proud. (see his tweet below)
Just look at the string of blog posts from the Wall Street Journal this morning:
STOCK FUTURES UP AHEAD OF THE REPORT
Stocks are pointed slightly higher Friday, with a few minutes to go before the report hits. S&P 500 futures are up 0.1% while Dow industrials futures are up 0.2%.
Other markets are little changed. The yield on the 10-year Treasury note is up 0.004 percentage point at 2.232%. Gold prices rose 0.05%. The U.S. dollar is little changed versus the yen and euro.
– Ben Eisen
The jobless rate fell by a tenth of percentage point to 4.3%, matching May as the lowest level of unemployment in 16 years.
It declined despite an expansion in the labor force. That suggests the growing labor market is slowly drawing more Americans off the sidelines and into the job search, and that employers are hiring many of them.
The drop could also nudge the Federal Reserve closer to raising interest rates. Unemployment is already below the Fed’s projection for long-run joblessness of between 4.5% and 4.8%.
The labor force participation rate, a measure of all the workers who could be working that either are working or looking for work, rose to 62.9% in July from 62.8% in June. In July 2016, it was 62.8%.
Higher is better, because it shows more people in the work force. During the dot-com boom, it was around 67%. During the housing bubble, it was 66%. The last time the rate was at these levels was the 1970s.
Excellent Jobs Numbers just released – and I have only just begun. Many job stifling regulations continue to fall. Movement back to USA!
— Donald J. Trump (@realDonaldTrump) August 4, 2017
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