The past week has seen multiple legacy media reports claiming that today’s employment number for September could be ‘negative’ as the assumed Leftist recession approaches.
Nothing could have been further from the truth as the American hiring boom continues. September non-farm payrolls were reported at 136k vs consensus estimate of 145k. Previous months were revised higher.
The labor force participation rate remained steady at 63.2%.
However, the biggest news of the day was the unemployment rate dropped to the lowest in 50 years at 3.5%.
Average hourly earnings YoY in September came in at +2.9% vs consensus at 3.2%. MoM the earnings were steady at 0.0 vs estimate of 0.3%.
The corrupt media tried its best to spin the numbers with Bloomberg headlining — U.S. Payrolls, Wages Miss In New Signs Of Downshift. How ridiculous after just this morning predicting a disaster.
Donald Trump took to the Twittersphere to highlight the ridiculousness of impeaching a president with 50% approval rating and the lowest unemployment in decades.