The U.S. Labor Department reported the U.S. economy created 266.000 jobs in November and the unemployment rate came in at 3.5%. The job numbers included 40,000 plus union workers that had been laid off concerning the General Motors strike who returned to work in November. The department also reported the country's economic expansion was in its 11th straight year.
So in Trumps first 34 months in office 6,255,000 jobs have been created for a monthly average of 183,970 jobs . In President Obama's last 34 months in office 7,367.000 jobs were created for a monthly average of 216,676 jobs. The numbers tell us that the Trump administration continues to fall behind the Obama administrations job creation record despite all the predictions by President Trump. Trump said he would be the greatest job creating President in history. Not even close and in fact the Trump economy is on schedule to create less jobs when his 4 years are up compared to Obama's last 4 years.
On another front the National Association of Business Economics expects economic growth in 2019 to come in around 2.3%, down from 2.9% in 2018. And also projects it will be down again in 2020 at 1.8%. The association also reported a decrease in business investment for the second and third quarter.
And to top if off, after 34 months in office the President and his party still have no legislation plans to address immigration reform or the rebuilding of the nations infrastructure which were two of their top priorities. All they have is all the people hear or their rhetoric but no action.
Note: Do not be surprised when the Labor Department announces the December job numbers, they end up reducing November's job numbers.
This commentary written by Joe Lorio
No comments :
Post a Comment