The number of private sector jobs increased by 195,000, more than the 148,00 expected. It’s the private sector that drives the economy, not government jobs.
Unemployment is an all-time low: 3.7%.
More good news:
‘Average hourly earnings increased at a healthy clip as well, growing by 3.2 percent since last August. It was the 13th month in a row that wages increased by at least 3 percent year over year. That’s tremendous news for American workers. Prior to this streak, wages last increased at least 3 percent in April of 2009.’
‘Wage increases were better for workers than managers. While the hourly wage increased 2 percent for managers, it increased an impressive 3.5 percent for workers. For workers earning the average hourly rate ($23.59) and working 40 hours per week, that meant a raise of nearly $1,650 for the year. And, that’s before the impact of reduced individual tax rates thanks to the Tax Cuts and Jobs Act, which saved the average U.S. worker approximately $1,400 in federal income taxes in 2018 [italics, mine]’.
Great news for minorities and all workers as well:
‘Unemployment among African Americans and Hispanics also hit all-time lows last month, proving that the ongoing economic boom is still creating unprecedented opportunity for all U.S. workers.’
Do you hear that Democrats? Wage increases were higher for workers than for managers; and unemployment rates for African Americans and Hispanics “also hit an all-time low”!
How about those tax cuts! Let’s give a well-earned shout out to this economy, where everybody–not just the rich, as the Democrats claim—are benefiting!