Friday, January 15, 2021
ECONOMY Trumpanomics: Job Openings Surge to Record Demand, Stocks Rise, Dollar Strengthens

Trumpanomics: Job Openings Surge to Record Demand, Stocks Rise, Dollar Strengthens

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The economic news in the United States of America has been ALL GOOD for months now, but you’d hardly know that for the amount of coverage it’s received in the mainstream media.

The brilliant economist Stephen Moore explained just how good things have been at the Washington Times:


 

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Well finally we are getting that “Summer of recovery.” The July jobs report was a blockbuster — solid job gains across the economy, lowest unemployment rate in more than a decade, and a nice bump up in wages.

This was a report that transcends spin. You just have to tip your hat to American businesses and say: well done.

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Still Donald Trump gets no respect. Even though nearly every poll for the past six years tell us that Americans care most about jobs and the economy (with terrorism occasionally taking over first place), the media naturally won’t cover the undeniable economic speed up since the election of Donald J. Trump.

With the Dow at 22,000, solid job gains, confidence high and and growth jumping to 2.6 percent in the last quarter under President Trump, the economy clearly has a new bounce in its step.

The gains to investors and pension funds (for tens of millions of middle class families) is on the magnitude of $4 trillion.

If the economy and jobs had done this well under President Obama he and the media would have been doing cartwheels down Pennsylvania Avenue.

Moore goes on to explain how we can know that none of the success we’ve seen has anything to do with Obama’s failed policies, and while it might not have everything to do with President Donald J. Trump – many of the policies he is pursuing will only help improve what our economy is now doing.

Today, Bloomberg News has some more specifics on just how well our economy is doing.

Some of the economic news is so good that our nation, in fact, NO NATION, has ever seen numbers this good.

In June the American job market surged to a record level of demand, “The gain in job openings underscores the need for workers in an economy that’s continuing to expand.”

The good news didn’t stop there:

July figures released last week showed payrolls increased more than forecast while the unemployment rate matched a 16-year low, as Americans came off the sidelines to join the labor force and many found work.

The JOLTS report also showed fewer people quitting their jobs, considered a gauge of workers’ willingness to voluntarily leave because they’re confident of finding a better job. That indicates faster wage growth, 

It isn’t just the jobs market that has such good news to report.

The stock market continues it’s historic climb and the U.S. Dollar is getting stronger and healthier every single day.

Earlier this week the DOW closed at a record high for the 8th straight day, and the July job numbers once again beat “expectations.”

“This is the second month in a row where we came in above 200,000 and above expectations,” said JJ Kinahan, chief market strategist at TD Ameritrade. “I think the reason the market isn’t going gangbusters here is because [the Dow] has gone up for eight days in a row. It’s hard to justify buying heading into the weekend when you’ve had this rally.”

U.S. equity indexes have been on a tear lately, especially the Dow. The 30-stock index has notched seven straight record closes and broke above 22,000 for the first time on Wednesday.

Even after the string of record high’s the market has continued to rise, and the dollar has continued to grow stronger… something that analysts have been worried about in recent months. However, one of the reasons for the concern about the dollar is self-fulfilling prophecy. Because the media hasn’t been covering our good economic news, but they have been breathlessly hounding President Trump the markets have been unsure about how to react. It’s the media itself that has sown the seeds of insecurity that have affected the US Dollar in such a negative fashion.

U.S. stocks rose to all-time highs as bank shares led gains amid a rise in Treasury yields. The dollar climbed for a third day during a lackluster session Tuesday. 

Folks, there is much reason for optimism. Even now the GOP is working on tax reform that would slash taxes, cut spending, and add fuel to our economic engine. If these policies can be given a chance to breathe, we could see a sudden resurgence of the American economy and more hope that our children might enjoy some of the economic opportunities that our parents did. Obamacare will continue to hurt growth and slow our economy, but perhaps if we can prove that our plans our working there will soon be more support for ridding ourselves of the albatross of Obamacare. If we could repeal Obamacare, AND reform our tax code… the future would be bright indeed.

Make sure to read all of Stephen Moore’s report at the Washington Times for a better understanding of how the media has played a role in slowing down our economic recovery.

Republished with permission Constitution.com


Viewpoints expressed herein are of the article’s author(s), or of the person(s) or organization(s) quoted or linked therein, and do not necessarily represent those of TCP News

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