The U.S. Labor Department reported that the economy added 199,000 jobs in November and that the unemployment rate came in at 3.7%, down from the 3.9% in October. It was the 34th straight month of positive job growth and the unemployment rate has stayed in the 3% range for the past 24 months, the longest consecutive period in any Presidential administration the past 72 years according to the Labor Department's historical records on unemployment.
And once again the negative voices were shocked that their predictions were wrong once again. Treasury Secretary Janet Yellen took the so called economic experts to task for predicting unemployment would explode and layoffs would be great. Those negative voices are now pushing for a recession sometime in 2024, a far cry from the second quarter of 2022 when they first reported the recession would take place.
There has actually been no data to support a recession and or massive layoffs as predicted by the negative voices for the past 18 months. They are just bent on seeing the President and the country fail because they oppose his policies, especially those that transition from fossil fuels to a green economy. The economy has handled the negative voices well which indicate how strong the economy really has been.
What the media should do from now until November of 2024 is inform the people how well the economy has performed despite inflation (which is on its way out) and buzz off the negative news that they have enabled like they enable Trump and the GOP.
This commentary written by Joe Lorio
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