Monday, December 9, 2024

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

 The U.S. Labor Department announced that the economy created 227,000 jobs in November and that the unemployment rate came in at 4.2%.  It was the 46th straight month of positive job growth.  The job numbers surprised the negative voices who predicted after October's job report, the jobs market was in a slowdown.  They dismissed the fact that the Labor Department contributed October's job numbers were due to the Boeing strike and two hurricanes that hit the east coast.  

The Department also reported that wages were up 0.4% from October and that year to year wages were up 4.0%.  With only 33 days left in office, President Biden will leave office with the best job creation record of any Presidential 4 year term.  His administration will have created more jobs in 4 years than Bush 41, Bush 43 and Trump created in the 16 years they served.  After the job numbers for November were announced, Fed Chairman Jerome Powell said the following:  The U.S. economy is in REMARKABLY good shape.  

PolitiDose commentary has told that success story since Biden took office, but the media has been more interested in publishing the negative voices of doom, gloom and recession and has paid little to no attention to the positive economic story of the past 4 years.  How sad.

Trump will be taking over a working economy with increase wages, more jobs than Trump ever thought creating in his first term and a strong America.  On the other hand when Trump left office, he bequeathed an economic disaster to Biden.

This commentary written by Joe Lorio  

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