Tags: trump | jobs | employment | labor | participation

Trump Said It Best: 'Jobs, Jobs, Jobs'

Trump Said It Best: 'Jobs, Jobs, Jobs'
U.S. President Donald Trump speaks to the media before signing a bill for border funding in the Oval Office at the White House on July 1, 2019, in Washington, D.C. (Mark Wilson/Getty Images)

By with Michael R. Shannon
Saturday, 13 July 2019 09:30 AM Current | Bio | Archive

When the May jobs report came out many anti-Trumpers and secret America haters were gratified because the U.S. Labor Department reported that only a measly 75,000 jobs were created. Now, if you had one of the jobs it certainly wasn’t measly, but the total was far below expectations. Many took this as a sign the Trump economy would be crashing just in time for the election.

Their celebration may have been premature.

The Hill reports, “The U.S. added 224,00 jobs in June, the Labor Department reported Friday, exceeding expectations amid heightened concerns about the health of the economy.”

The Hill explained the unemployment rate edged up to 3.7 percent, which at first seems contradictory, but what happened was the size of the workforce increased so fast the new jobs created didn’t absorb all the additional workers. This also had an effect on wages as we’ll explain later.

Prognosticators had predicted an increase of only 160,000 jobs, so the actual figures beat that number by 64,000 jobs.

The workforce participation rate, even with the new workers, stayed steady at 62.9 percent.

Many people wonder where that number comes from.

Investopedia defines workforce participation as the number of people 16 years and older who are employed or looking for work. U.S. workforce participation has been on the decline since 2009, “From 2006 to 2018, the U.S. civilian labor force participation rate has hovered in the 62 to 67 range, with a fairly consistent decrease in the participation rate since 2009.”

This decline has concerned many people, the authors included. The World Bank lists “the global labor participation rate [at] 61.7 percent.” The U.S. exceeds that rate by a bit over one percent. But we now know workforce participation is not the be all and end all of a nation’s success.

Investopedia found, “The countries with the highest labor force participation rates as of the end of 2018 include Zimbabwe, Rwanda, Tanzania and Cambodia.” We admire the industriousness of the citizens of those nations, but we wouldn’t trade places with them just to enjoy a bump in the workforce participation rate.

Wages have not increased as much as expected in a tight labor market. This is cause for concern since current low wage rates are a product of uncontrolled illegal immigration at one end and exploitative H-Visa opportunism at the other. This year “wages rose 6 cents for a modest 3.1 percent year-over-year gain.”

June was a good month for workers and a good month for the economy, which is a great way to start the summer. In fact, the president said it best when he tweeted, “JOBS, JOBS, JOBS.”

Michael Reagan, the eldest son of President Reagan, is a Newsmax TV analyst. A syndicated columnist and author, he chairs The Reagan Legacy Foundation. Michael is an in-demand speaker with Premiere speaker’s bureau. Read more reports from Michael Reagan — Go Here Now.

Michael R. Shannon is a commentator, researcher for the League of American Voters, and an award-winning political and advertising consultant with nationwide and international experience. He is author of "Conservative Christian’s Guidebook for Living in Secular Times (Now with added humor!)." Read more of Michael Shannon's reports — Go Here Now.

© Mike Reagan

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When the May jobs report came out many anti-Trumpers and secret America haters were gratified because the U.S. Labor Department reported that only a measly 75,000 jobs were created.
trump, jobs, employment, labor, participation
Saturday, 13 July 2019 09:30 AM
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