Today’s Campaign Update, Part II (Because the Campaign Never Ends)
Another month, another incredible jobs report that blasts through the projections by all the “experts.” – The Labor Department’s monthly jobs report is out. It’s real, and it is spectacular.
February jobs gains in the Trump economy amounted 273,000, beating “expert” projections by a whopping 98,000 jobs. This during a month in which the Democrats and their corrupt media toadies did everything they could to depress economic growth by whipping up irrational hysteria over the coronavirus.
But there’s more, so much more – from the report on this morning’s news at Yahoo! Finance:
The February jobs report reflected much better than expected job gains and an unemployment rate back at a 50-year low, before the coronavirus outbreak escalated and threatened to weigh on economic activity.
The Labor Department released its February jobs report at 8:30 a.m. ET Friday. Here were the main results from the report, compared to consensus expectations compiled by Bloomberg:
- Change in non-farm payrolls: +273,000 vs. +175,000 expected and 273,000 in January
- Unemployment rate: 3.5% vs. 3.6% expected and 3.6% in January
- Avg. hourly earnings, month on month: +0.3% vs. +0.3% expected and +0.2% in January
- Avg. hourly earnings, year on year: 3.0% vs. +3.0% expected and 3.1% in January
January’s job gains were upwardly revised to 273,000, from the 225,000 previously reported, and December’s non-farm payroll additions were upwardly revised by 37,000 to 184,000. This brought average job gains over the past three months up to 243,000, or above the average from 2019, when job growth averaged 178,000 per month.
Along with those huge upward-revisions for December and January, the total additional jobs added in today’s report amounts to an incredible 358,000. Yet again, keeping with the pattern throughout the Trump Administration, the consensus of the mainly-liberal group of “experts” was proven to be embarrassingly low.
Over the past three months included in today’s report, here is how the actual jobs numbers compared to the projections of the “experts”:
December: Jobs added – 184,000. Predicted – 160,000.
January: Jobs added – 262,000. Predicted – 165,000.
February: Jobs added – 273,000. Predicted – 175,000.
Taken together, this means that the actual jobs added over the past three months exceeded the “expert” projections by 219,000 jobs.
Over the past three years we have seen two distinct, consistent patterns related to these jobs reports:
- The “expert” projections are significantly low almost every month;
- The initial Labor Department reports are almost always low and must be revised upwards over the following 60 days. Most, in fact, are revised upwards not once, but twice before we finally get to a final number.
During the Obama years, these patterns were exactly reversed: Expert projections were consistently higher than actuals, and initial actuals reported by the Labor Department were consistently artifically high, and ended up being revised downwards, often twice, over the following 60 days.
Obviously, there is an ingrained political bias present in the group of “experts” surveyed by the biased media. Equally obviously, the DOL is still plagued by a gaggle of Obama holdovers who need to be cleaned out of there.
But today, let’s celebrate: Despite the best efforts of the Democrat/media propaganda complex, the fundamentals of the U.S. economy remained extremely strong in February.
That is all.
Today’s news moves at a faster pace than ever. Whatfinger.com is my go-to source for keeping up with all the latest events in real time.