U.S. Adds 266,000 Jobs as Unemployment Drops to 50-Year Low
The U.S. added another 266,000 jobs to the market in November 2019, according to the latest numbers from the Labor Department. The unemployment rate dropped to 3.5%, a tie for the lowest rate we’ve seen in this country in half a century, and wages went up 3.1% from the year before. With hiring rates increasing, it should translate to dependable consumer spending, a robust holiday shopping season, and a roaring economy as we turn the page on the calendar year.
Put another way, Democrats can impeach this president, run against his immigration policy, and call him a terrible person all day long, but the one thing they cannot do is run against his economy. Well, they can and will, but it’s going to make them look extremely foolish.
What’s remarkable is that it was only a few months ago that the left-wing media was screaming about an inevitable, impending recession. Remember that? Now granted, anything can happen. The bottom could fall out of the markets tomorrow. And even if it doesn’t happen tomorrow, it will happen eventually because recession is a natural part of the economic growth cycle. In the markets, as in nature, there is a period of growth followed by a period of decay. The thing to hope for is that the recession part of the graph is much weaker than the boom. And there is every reason to expect that this will be the case when and if the economy slows.
But putting aside the natural ebbs and flows of a free market economy, the media was clearly trying to start a panic. The robust Trump economy is one of the most inconvenient aspects of his presidency, mostly because it defies criticism. That’s why, incidentally, you rarely hear the mainstream news organizations whisper a word about it. It’s basically impossible to turn an economic story into a way to bash Trump, and that’s all The New York Times/CNN/NBC/etc. are interested in these days. If they want to criticize Trump on the economy, they have to invent a fictitious future where everything goes to hell in a handbasket.
“I want a recession,” late-night HBO host Bill Maher said this summer. “We have survived many recessions. We can’t survive another Donald Trump term.”
We’re sure Maher isn’t alone in praying for an economic downturn, and around the time he made this asinine admission, the media started giving Trump-haters the news they were looking for. Well, the “news,” anyway.
“A Recession Is Coming (Eventually). Here’s Where You’ll See It First,” the New York Times trumpeted.
“Is a Recession Inevitable?” questioned CNBC in October.
“Here’s a List of Recession Signals That Are Flashing Red,” the same network published in September.
And even when they get hold of something like this indisputably excellent jobs report, they find some economist somewhere to say, “Yeah, but the trade war will eventually…blah blah blah…”
If their cynical, anti-American reporting wasn’t so insulting, it would be comical.