The Trump Economy Continues To “Smash” Expectations In 2019

THE "SURGE" OF JOBS IN JANUARY CONTINUES TO DEMONSTRATE THE STRENGTH OF THE TRUMP ECONOMY

President Trump Has Added Nearly 5 Million Jobs In The Two Years Since He Took Office, As More And More Americans Left Out Of The Economic Recovery Rejoin The Labor Market

Nonfarm Payroll Increased By 304,000 In January. ( Bureau Of Labor Statistics , Accessed 2/1/19)

Nonfarm Payroll Has Increased By 4,879,000 In The Two Years Since President Trump Took Office . ( Bureau Of Labor Statistics , Accessed 2/1/19)

Overview Of Recent Monthly Job Creation. ("Employment, Hours, And Earnings From The Current Employment Statistics Survey (National)," Bureau Of Labor Statistics , Accessed 2/1/19)

• December: 222,000 Jobs Added
• November: 196,000 Jobs Added
• October: 277,000 Jobs Added
• September: 108,000 Jobs Added
• August: 282,000 Jobs Added
• July: 178,000 Jobs Added
• June: 262,000 Jobs Added
• May: 270,000 Jobs Added
• April: 196,000 Jobs Added
• March: 182,000 Jobs Added
• Feb: 330,000 Jobs Added

With The Best Labor Force Participation Rate In 6 Years, "The Job Market Continues To Defy Expectations." "With the highest labor force participation rate in 6 years, the job market continues to defy expectations that the economy is approaching full employment. January marked a record 100th straight month of job gains." (Courtenay Brown, "U.S. Economy Smashes Expectations, Creating 304,000 Jobs In January," Axios , 2/1/19)

Today's "Blockbuster" Number Drew Almost Universal Praise And Emphasized The Strength Of President Trump's Labor Market

CNBC's Eamon Javers Called Today's 304,000 Jobs Added A "Blockbuster Number." "Blockbuster jobs number -->" (Eamon Javers, Twitter Feed , 2/1/19)

The U.S. Labor Market Is "Still Chugging Along." "The January jobs report shows the U.S. labor market is still chugging along. The U.S. economy added 304,000 non-farm payrolls in the first month of 2019, ahead of consensus expectations of 165,000." (Emly Mccormick, "U.S. Economy Added More Jobs Than Expected In January, Unemployment Rate Rises To 4%, Yahoo Finance , 2/1/19)

The Washington Post's Heather Long Said Today's Jobs Report "Blew Out Expectations ." "BREAKING: US economy added 304,000 jobs in January, blowing out expectations. Shutdown had no impact, BLS said. Unemployment rate rises to 4% as more workers look for jobs. Wages rise at 3.2%, unchanged from last month. #jobs" (Heather Long, Twitter Feed , 2/1/19)

Politico's Ben White Called Today's 304,000 Jobs A "Huge Beat." "304K jobs what a HUGE BEAT>" (Ben White, Twitter Feed , 2/1/19)

The Job Surge In January Pointed To The Underlying Strength Of President Trump's Economy. "U.S. job growth surged in January, with employers hiring the most workers in 11 months, pointing to underlying strength in the economy despite a darkening outlook that has left the Federal Reserve cautious about further interest rate hikes this year." (Lucia Mutikani, "U.S. Job Growth Surges; Unemployment Rate Rises To 4.0 Percent," Reuters , 2/1/19)

"Most Economists" Say That The January Jobs Number "Indicates A Strong Overall U.S. Labor Market." "Most economists sat the January jobs report indicates a strong overall U.S. labor market. With more Americans returning to work, consumer spending, which accounts for two-thirds of U.S. economic growth, will likely to continue on a steady pace, some analysts said. They're also keeping a close eye on today's wage numbers." (Jessica Menton, "What Economists Are Saying," The Wall Street Journal , 2/1/19)

Mohamed El-erian, Chief Economic Adviser At Allianz Said That The Jobs Report Points To "To A Solid Labor Market." "Mohamed El-erian, chief economic adviser at Allianz, tweeted in part: 'Details [of the jobs report] mostly point to a solid labor market and will counter concerns about a significant growth slowdown, and put an end to talk of 2019 recession.'" (Courtenay Brown, "U.S. Economy Smashes Expectations, Creating 304,000 Jobs In January," Axios , 2/1/19)

The Healthy Gain In The Jobs Report "Illustrated The Job Market's Durability Nearly A Decade Into The Economic Expansion." "The healthy gain the government reported Friday illustrated the job market's durability nearly a decade into the economic expansion. The U.S. has now added jobs for 100 straight months, the longest such period on record. The unemployment rate did rise in January to 4 percent from 3.9 percent, but mostly for a technical reason: Roughly 175,000 federal workers were counted as temporarily unemployed last month because of the shutdown." (Christopher Rugaber, "US Employers Add Robust 304K Jobs; Joblessness Up To 4%," The Associated Press , 2/1/19)

CNN Chief Business Correspondent: This Month's Jobs Report Shows The "Strong Job Creation…Shows No Sign Of Letting Down." CNN'S JOHN BERMAN: "Alright, we have breaking news. The Labor Department just released the January Jobs Report, a Boffa jobs report, I think is the technically term. CNN's Christine Romans joins us now with the numbers." CNN'S CHRISTINE ROMANS: "It's a really good report. I mean starting this year with a lot of hiring across the board. We've got 304,000 net new jobs in January so just shrugging off the government shutdown and private industry hiring now. This is a hundred months in a row of job creation. That is really remarkable. We saw the unemployment rate tick up just a tiny bit but this is still considered a generational low there. And look, again, for years now we've seen strong job creation and it shows no sign of letting down. Wages by the way, 3.2%. We've now seen three months in a row of strong wage growth. That's been missing in so much of the recovery the past decade so watch to see if that continues. Love to see that there. Again, across the sectors, warehouses, transportation companies, offices, you've seen leisure hospitality, huge gains in bar, restaurant jobs, construction jobs, healthcare again 42,000 net new jobs there. So, again, this is a strong labor market report and we've seen after last year 2.6 million new job. That pace is continuing at the beginning of the year, you guys." (CNN's "New Day," Accessed 2/1/19)

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MSNBC On Jobs Report: "The Economy Is Still Going Strong." MSNBC'S MIKA BRZEZINSKI: "So Hans thanks for the advice. Sarah Eisen, break it down for us. What do these numbers mean?" CNBC'S SARAH EISEN: "They mean that the economy is still going strong and that actually employers aren't really phased by the shutdown. I'll just point you to the private payrolls number. They increased by almost 300,000 so that means while the government was partially shutdown, companies didn't hesitate to hire. It did not shake confidence. Economists were looking for a number below 200,000 jobs. We got one above 300,000 and just to further emphasize the point if you look at all of last year and we are coming off a bumper year for job creation, the average per month for private employment was in the twos. This number is higher than the average for every month of last year. So, I would say no effect really in terms of the confidence hit in terms of hiring for private employers as a result of the shutdown. The other thing that stands out. Participation continues to rise, more people entering the labor force, especially women that's been a huge story lately. The participation rate is 62.4% which is actually the highest number since 2013. That's a good sign. More people entering the labor force. That 4% unemployment rate as Hans mentioned does reflect the fact that people are furloughed. That they are temporarily unemployed. I would sort of write that off as a temporary effect there, let's see what happens next month when those people get back into paying jobs. And then on the lack of wage growth, .1% was a little disappointing in terms of people wanting more pay on the month but it still reflects a pretty healthy jobs environment and the market is going to like this report, Mika, because what it signals is there is still a lot of demand for workers. People are hiring, they're not getting nervous but we're not getting inflation in the form of wage growth so the Federal Reserve doesn't need to tighten interest rates. That's kind of a recipe for a rally on Wall Street." (MSNBC's "Morning Joe," 2/1/19)

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The Jobs Report Has Been Widely Lauded

Reuters Headline: "U.S. Job Growth Surges …" (Lucia Mutikani, "U.S. Job Growth Surges; Unemployment Rate Rises To 4.0 Percent," Reuters , 2/1/19)

Axios Headline: "U.S. Economy Smashes Expectations, Creating 304,000 Jobs In January ." (Courtenay Brown, "U.S. Economy Smashes Expectations, Creating 304,000 Jobs In January," Axios , 2/1/19)

The Guardian Headline: U.S. Jobs Growth Smashes Expectations." (Angela Monaghan, "US Jobs Growth Smashes Expectations - Business Live," The Guardian , 1/2/19)

The Associated Press Headline: "U.S. Employers Added A Robust 304,000 Jobs Last Month; Unemployment Rises To 4 Percent." ("US Employers Added A Robust 304,000 Jobs Last Month; Unemployment Rises To 4 Percent," The Associated Press , 2/1/19)

Reuters Headline: "U.S. Job Growth Surges; Unemployment Rate Rises To 4.0 Percent." (Lucia Mutikani, "U.S. Job Growth Surges; Unemployment Rate Rises To 4.0 Percent," Reuters , 2/1/19)

Market Watch Headline: "'Blowout' Jobs Report Further Evidence Of Strong Growth, Economists Say." (Robert Schroder, "'Blowout' Jobs Report Further Evidence Of Strong Growth, Economists Say," Market Watch , 2/1/19)

AMERICANS CONTINUED TO SEE MORE MONEY IN THEIR POCKETS IN 2019

In The Fourth Quarter Of 2018, Wages Increased More Than They Have In 10 Years And That Growth Continued Into 2019

In The Fourth Quarter Of 2018, Wages Rose More Than 3% For The First Time In More Than 10 Years. "Wages and salaries for American workers rose more than 3 percent over the past year, the first time that threshold has been broken in more than 10 years, according to a Labor Department report Thursday. The employment cost index, which the Bureau of Labor Statistics releases quarterly, showed a 3.1 percent gain in the wages and salaries component in the fourth quarter of 2018. That's up from 2.9 percent in the third quarter and tied for the biggest gain since the third quarter of 2008, just as worst of the financial crisis hit." (Jeff Cox, "Worker Wage Gains Just Broke 3% For The First Time In More Than 10 Years," CNBC , 2/1/19)

Fox Business Anchor: Haven't Seen This Much Wage Growth "In About A Decade" FOX BUSINESS' MARIA BARTIROMO:" Wow, I'm feeling a little goldilocks here. You've got 304,000 jobs created in the month of January. Unemployment rate goes up as John Hilsenrath predicted right before we had the numbers, up to 4%. But look at hourly wages, not much, up 1/10^th percent, 3.2% higher year over year. Your reaction?" FOX BUSINESS' TAGEN MCDOWELL: "But that is wage growth north of 3% for four months in a row, Charles Payne. That is something we haven't seen in about a decade. That's great news." (Fox Business' Mornings With Maria, Accessed 2/1/19)

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