The U.S. Labor Department announced that the economy created 134,000 jobs in September and the unemployment rate fell to 3.7%. It was the 96th straight month of positive job growth for the economy. September was the lowest job creation month since March 2018 when 103,000 jobs were reported created. Economist predicted 185,000 jobs would be created in September.
So far, in Trump's 20 months in office 3,632,000 jobs have been created for a monthly average total of 181,600 jobs created per month. In President Obama's last 20 months in office 4,007,000 jobs were created for a monthly average total of 200,350 jobs created per month. In other words, there is no job creation boom from the tax cuts like Trump brags about. What the country is enjoying is the economic expansion that began on President Obama's watch and in its 9th straight year of expansion.
And just think, when President Obama took office the economy was losing 700,000 jobs a month thanks to the record recession of President Bush When Trump took office the economy was creating and adding approximately 200,000 jobs a month and positive job growth had taken place for over 70 straight months. The next comparison can be made when the CBO releases the final budget information and numbers on Trump's first fiscal year budget which ended September 30. And PolitiDose will be there to keep the pubic informed.
This commentary written by Joe Lorio
