With the elections happening tomorrow, let’s take a look at the latest figures released by the Bureau of Labor Statistics (BLS) regarding our economic situation in terms of jobs created, unemployment rates, and rising wages.
According to the Bureau of Labor Statistics: “Total nonfarm payroll employment rose by 250,000 in October, and the unemployment rate was unchanged at 3.7 percent.”
That number is significantly higher compared to September’s surprisingly low number of 134,000 jobs created during the month, which was lower than anticipated. However, as I explained in the article covering the September report from the BLS, one explanation that the Bureau gives is that Hurricane Florence might have had some significant impact on the jobs numbers.
Now, at the end of the report, the Bureau informs us that they had made revisions for both September’s jobs report and August’s jobs report. In their revisions, September’s jobs report was revised down from that 134,000 to 118,000, which is not great, but indicates more jobs were created in the prior month. As the report explains, while September’s numbers were revised down, August’s numbers were revised up. August’s original number was 270,000 and was revised up to 286,000, which makes up the difference for September’s numbers.
Over the last 3 months, the average jobs gain has sat around 218,000. Over the last year, the average jobs gain has been 211,000, so seeing 250,000 in October is fantastic, as that shows higher-than-average job growth.
Moving on to unemployment rates, as I mentioned earlier, the overall rate remains unchanged at 3.7%.
For adult men, unemployment rose by 0.1 percentage points from last report’s numbers to 3.5%. For adult women, the number currently stands at 3.4%. For teenagers, the number went down significantly from 12.8% in the last report to 11.9%, so almost a complete percentage point. For whites, the number remains at 3.3%. For blacks, the number went up by 0.2 percentage points to 6.2%, which is not great. I would like to see that number go down, as we were seeing earlier this year. For Asians, the number dropped by 0.3 percentage points from 3.5% last report to 3.2%. Finally, Hispanic unemployment rate went down by 0.1 percentage points from 4.5% last report to 4.4%.
So overall, there was little to no change made to specific unemployment rates. Teenagers saw the biggest drop in unemployment, followed by small changes for Asians and Hispanics, with blacks unfortunately seeing a bit of a higher rate.
Employment in manufacturing increased by 32,000 jobs and has added 296,000 jobs throughout the year so far. Construction also rose by 30,000 in October, adding 330,000 throughout the year.
Moving on to wages, the report shows: “average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $27.30. Over the year, average hourly earnings have increased by 83 cents, or 3.1 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 7 cents to $22.89 in October.”
The overall economy is currently booming, largely thanks to Trump’s economic policies.
Now, I’m old enough to remember Obama saying that a stagnating America was the “new normal” and that we better get used to it. How Obama could ever have been considered to be “Presidential” at any capacity, particularly more so than Trump, is entirely beyond me. Those words appeared to be words of surrender. That we would never see greatness in our country again.
Of course, knowing Obama did everything he could to fundamentally change and destroy our country, saying that America’s best days were behind us was simply part of the whole thing. Matter of fact, I would be willing to bet at least part of the reason Trump made his slogan: “Make America Great Again” was because of Obama’s attitude and words that America will only see stagnation from that point on.
And now, only a couple of years later, we’re seeing the realization of that very slogan. Sure, there is still an awful lot of work to do. We still don’t have a wall at the southern border, largely because of RINOs and Leftists who stand in the way of our border safety, but we are doing fantastic in many other areas.
And making America’s economy boom again is a big part of Making America Great Again. It would be hard to make it great again if we are not doing well economically. It’s hard to do much with next to no money. But that is not a problem we see today, now that Obama is out of the White House.
Part of the reason I seriously doubt there will not be anything close to a blue wave tomorrow is because I believe people see the difference Trump’s economy is making. During the Obama years, the president basically wrote off manufacturing and blue-collar jobs and literally said they were never coming back. Now, they’re back and they brought some friends, too.
The fact that the Democrat Party has essentially abandoned the manufacturing industry and just about every other blue-collar industry, while Trump and the GOP have done tremendous help with regard to those industries tells me those people will not vote Democrat again, if they have in the past.
The Democrats have abandoned blue-collar workers, white people, middle-America in favor of illegal immigrants. This will come back to bite them.
Regardless of what many polls say, I don’t see a blue wave happening. Now, does that mean the Democrats could take back the House (notice how the House is the only thing they talk about, not the Senate, which begs the question of “if there is a blue wave, why would Democrats not win Senate elections too?”) and do some real damage? Yeah. There is a chance, slim as I believe it to be, that Democrats could take back the House, albeit by a relatively small majority. But regardless of how small, a majority is a majority and Democrats have shown themselves to be very dangerous when they DON’T have power. I couldn’t imagine what they would do WITH power.
Democrats winning back the House by a slim majority may not be the coveted “blue wave”, but it still can be dangerous. All logic, all rationale, indicates Republicans winning tomorrow. These great economic numbers, as we have seen, can only be achieved when Republicans are in control.
And the good news is that I do believe Republicans will definitely retain and even gain seats in the Senate, and I have faith that they will also retain the House. I won’t go by early voting statistics one way or the other because some states do not have early voting. Often times, Democrats are ahead in early voting, even when Republicans end up winning. The fact that Republicans seem to be in the lead currently doesn’t mean much to me.
Now, it goes without saying that it is our civic duty as Americans to vote, regardless of what party you vote for. But it is imperative for Republicans to take this election as seriously as we did the last one. Tomorrow, we will see if we are a nation that worries more about creating jobs or creating mobs.
So please, go out to vote. And if I may make a recommendation, vote Republican. We have seen for the last two years how toxic and flat out mentally ill and evil the Left is. And that’s when they are outside of power. We can’t let them back in power, even if by a slim majority.
I’m not saying this jobs report will definitely boost Republicans, but it should. It gives us one final reminder of one of the things we are fighting for pre-election day.
But no matter what, I am glad to see such great jobs reports throughout this year. I just hope we can continue seeing them like this, unimpeded by the damage the Democrats could cause.
“Do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God.”
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