The U.S. Department of Labor announced that the economy created 148,000 new jobs in December and the unemployment rate was unchanged at 4.1%. It was the 87th straight month of positive job growth. The Department also announced that job creation in October and November was 9,000 less than reported for those months. Business groups said December job creation was less than expected and will watch the numbers upcoming in 2018.
In December 2016 the economy created 156,000 new jobs during the Obama administration. What will the year 2018 produce for the economy and job creation? Trump and the GOP said their tax scam would push the economy and jobs created higher. Time will tell of course and when one realizes that the present economy, job creation and business profits are doing so well under the old tax system, maybe, just maybe, the people will come to understand not only did President Obama's policies work, but Trump's and the GOP's tax scam was not necessary at all and was only pay back for their special interest people namely corporate America and the wealthy.
This commentary written by Joe Lorio
