You’ve probably heard this one before: the economy did better than expected and added 201,000 new jobs in the month of August.
Unemployment continues to hold steady at 3.9 percent.
Contrary to what former President Obama touted during a speech at the University of Illinois, this is Trump’s economy.
— FOX Business (@FoxBusiness) September 7, 2018
“Unprecedented Jobs Growth Streak Continues as Wages Rise” https://t.co/Mk0WSyjdOe
— Donald J. Trump (@realDonaldTrump) September 7, 2018
As Washington Examiner reports, the economy gained 12,000 more jobs than economists previously predicted.
The economy is strong, really strong:
Economists had predicted 189,000 new jobs, and the report should further solidify the Federal Reserve’s plans to raise interest rates amid what officials previously labeled a “strong” U.S. economy. Experts say job growth should continue into the second half of 2018, fueled partly by last year’s tax cuts.
“The economy is on a sugar high from the fiscal stimulus, and that’s going to continue through the rest of this year and into 2019,” Ryan Sweet, director of real-time economics at Moody’s Analytics, said in an interview. “Job growth is still running right around 200,000. That’s more than enough to keep up with growth in the working-age population.”
Promises made and promises kept! @POTUS Trump’s STRONG agenda is working for the American people. 201,000 new jobs in August and more than 4 MILLION jobs created since Election Day. The economy is roaring back and we’re just getting started! https://t.co/hdVLIQuU9s
— Vice President Mike Pence (@VP) September 7, 2018
This marks the seventh time since August 2017 that the economy under Trump gained more than 200,000 new jobs in a month. In one of those months, the economy gained more than 300,000 new jobs.
Average hourly wages for private, non-farm employees grew to $27.16 in August.
While employment numbers are high, businesses have expressed concern over their ability to find enough individuals to fill open positions. Based on Friday’s report, Sweet says companies will have to work harder to find new employees.
“It’s difficult to find qualified workers, but we don’t have a labor shortage,” he said.
Good economic news: The US economy added a strong 201,000 jobs in August. The unemployment rate stayed at a historically low 3.9%.
— Jake Tapper (@jaketapper) September 7, 2018
The tax cuts legislation that President Trump signed into law is putting more money into the pockets of taxpayers and into the accounts of business owners – small and large. These companies are then hiring more people to grow their business and subsequently, the economy.
Not one Democrat lawmaker in either chamber voted in favor of the tax cuts.
— Dan Scavino Jr. (@Scavino45) September 7, 2018
Here’s more, from Fox Business:
Payrolls increased by 201,000 in August and the unemployment rate stayed at 3.9 percent. Analysts polled by Thomson Reuters anticipated an additional 191,000 jobs with the unemployment rate decreasing to 3.8 percent from July’s 3.9 percent.
This is the 95th straight month that U.S. employers have added jobs, according to Dow Jones.
Wages picked up in August, with the annual wage growth increase moving up to 2.9 percent from July’s 2.7 percent. The sluggish pace of wage growth has concerned some economists, but the latest reading shows that companies are having to boost pay to attract workers.
Note: The author of this article has included commentary that expresses an opinion and analysis of the facts.
It is interesting that every Democrat talks about “impeaching” maybe the greatest economic president this country has ever seen. Unemployment under Obama reached 10%+. Today it is 3.9% (with incredible 4.2% GDP growth). https://t.co/RNlbkiXBvk
— Eric Trump (@EricTrump) September 7, 2018