Today the B.L.S. job report came out showing a gain of 176,000 jobs with the U.S. unemployment rate standing at 4.6% and a dip in hourly average earnings to 2.5%
Sometimes numbers and charts can say more than anything written. For this article I just want the Anti American Bears, Zero Hedge, Gold bugs and all economic cult groups from the left and right to just see this, because you all failed.
Part-time jobs ticked up in November, but overall, employment growth in recovery has been almost all full-time.
From Calculated Risk:
From Doug Short:
74… As in 74 consecutive months of jobs growth, by far the longest streak in history.
To give a quick recap of 2016, we have seen the longest job expansion streak ever at 74 months and job openings have had the highest print ever recorded in U.S. history at 5,900,000 in all sectors of the U.S. Unemployment claims have hit a 43 year low even with the oil crash and weakness in Europe, Japan, South America, Russia and China and the number of total and full time year round workers grew.
I understand why the anti-America bears cry wolf everyday: The nature of man is to oppose any economic reality when they’re not in power. Look for my fellow conservatives, starting next year for 4 years, to not care about labor participation rates. Look for the Zero Hedge Gold Bugs to change their tune regarding the mystical 95 million people out of work. I also caution my liberals friends not to over react to a Trump Presidency by predicting doom and gloom, just like conservatives have done over the last 8 years. Both sides play this game and neither seems concerned with reality.
Economic cycles come and go and we will have recessions. It’s all part of the economic process. The take home message for both sides is that we are living in the Greatest Country in the History of the world.
Logan Mohtashami is a financial writer and blogger covering the U.S. economy with a specialization in the housing market. Logan Mohtashami is a senior loan officer at AMC Lending Group, which has been providing mortgage services for California residents since 1987. Logan also tracks all economic data daily on his own facebook page https://www.facebook.com/Logan.Mohtashami