The U.S. Labor Department reported 145,000 jobs were created in December and the unemployment rate was unchanged at 3.5%. It was the 111th straight month of positive job growth. The December numbers were lower than expected, lower than last month and lower than December 2018. Manufacturing lost over 10,000 jobs in December and continues to be in recession mode.
The Department also announced that 2.1 million jobs were created in 2019, the lowest since 2011 and that both October and November numbers were revised downward from earlier reports. So job creation in the Trump administration continues its downward trend for Trump's first 35 months in office when compared to President Obama's last 35 months in office. And at the end of Trump's first term in office job creation will lag considerably from President Obama's last term in office.
The job numbers explain how democratic polices work best for America and the economy. President Obama's stimulus of $700 billion for the economy that was passed by the democratic controlled congress soon after Obama was elected to deal with Bush's great recession has done more for the economy and job creation than the Trump/republican $1.5 trillion tax cuts that cost so much more and that was meant to benefit the wealthy and corporate America. The Obama stimulus was directed toward projects and programs that actually stimulated the economy and job creation. Where as the Trump tax cuts simply represents a failed ideology and their commitment to the wealthy.
So in Trumps first 35 months in office a total of 6,400,000 jobs have been created. In Obama's last 35 months in office 7,559,000 jobs were created. And no matter how Trump and the republican party try to spin the economy, democratic administrations still perform best for the country and its people.
This commentary written by Joe Lorio
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