The U.S. Economy, Job Creation and The Unemployment Rate for September 2024.

 The Labor Department reported the economy added 254,000 jobs in September and the unemployment rate came in at 4.1%, down from 4.2% in August.  It was the 44th straight month for positive job growth and the unemployment rate continues to stay in a historical low range since the 1960's.  The Department also reported wages were up 0.4% in September from August and that year to year wages were up 4%.  

And once again, the negative voices of doom and gloom who were predicting 140,000 jobs were wrong as usual.  In fact they tried their best to undercut the good job numbers with lies and misinformation.  That has become their standard procedure as they have nothing left.  Making matters worse for the negative voices, there was more good news reported about the economy.

Walmart, Amazon, Target and other retailers announced they were hiring hundreds of thousand full and part time workers for the holiday season.  The U.S. Port's strike was settled and workers are back on the job.  Employer's business ads for hiring increased to above 8 million as the labor market continues to be steady.  The Feds announced interest rate cuts and more to come.  

The economy in President Biden's first full 44 months in office has been stable and consistent.  Job creation has never been better in any President's 4 year term.  Unemployment at steady low levels, stable consumer spending despite inflation which is down to 2.2% in the latest report.  The GDP in Biden's first 3 years averaged 3.1% annually.  Wages continue to rise.  It is a very positive economy despite the devastation left by the Trump administration.  At this same time during the Trump years in September 2020 unemployment was 7.9% and the economy still had not added back all the 21.5 million jobs it lost.  The economic recession and COVID was treated like, "so what."

Despite the resources of the media in general, PolitiDose commentary was the only news source that correctly projected what would take place with the economy on Biden's watch.  It did so in a December 2020 and January 2021 commentary and gave the reasons why.  PolitiDose's monthly commentary on the economy has followed ever since.  It is sad to report that the media in general, gave more time to the negative voices on the economy than the actual facts. 

So stay tuned to  PolitiDose, your daily dose of political commentary to stay abreast of the facts.

This commentary written by Joe Lorio