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February 1 2019

Wow! 304,000 New Jobs in January

by Charlotte Hays

During the Obama years, the jobs report often was "unexpectedly" disappointing.

For the Trump era, the jobs report is often "unexpectedly" good.

The terrific jobs report for January was no exception. CNBC reports:

Job growth in January shattered expectations, with nonfarm payrolls surging by 304,000 despite a partial government shutdown that was the longest in history, the Labor Department reported Friday.

The unemployment rate ticked higher to 4 percent, a level where it had last been in June, a likely effect of the shutdown, according to the department. However, officials said federal workers generally were counted as employed during the period because they received pay during the survey week of Jan. 12. On balance, federal government employment actually rose by 1,000.

Not so sure growth in federal employment is a good thing--but 304,000 new jobs!

Economists had predicted 170,000 new jobs with an unemployment rate remaining unchanged at 3.9 percent.

Revisions in data in previous jobs reports lowered the numbers.

Even with revisions, economic growth was "well above the trend that would be common this far into an economic expansion dating back 9½ years."

The shutdown may have been reflected in the number of people working part-time, which rose by 11 percent.

And what about the "unexpected" meme?

Could it reflect that people expected President Obama's heavy regulations and other policies to work better, but are reluctant to credit President Trump's opposite path with actually producing better results?





Independent Women's Forum is an educational 501(c)(3) dedicated to developing and advancing policies that aren’t just well intended, but actually enhance people’s freedom, choices, and opportunities. IWF is the sister organization of the Independent Women’s Voice.​
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