The biased business media tried its hardest to describe the addition of 145k jobs to the American economy in December ‘a disappointment’, but in reality, the number was just shy of estimates and a solid month for the Trump administration.
“The Labor Department said nonfarm payrolls increased by just 145,000 while the unemployment rate held steady at 3.5%,” wrote CNBC. Another way to phrase that statement would be — the U.S. economy continued strong jobs growth and unemployment remains at historically low levels. The agenda is all in the headline of course. The rest of today’s data came in mixed.
The Trump economy roars on.
Non-Farm Payrolls (Dec) printed at 145k vs 164k, consensus estimate.
Average Hourly Earnings (YoY) (Dec) printed at 2.9% vs 3.1% estimate.
Labor Force Participation Rate (Dec) remained steady at 62.3%, as did the Unemployment Rate at 3.5%.
Wholesale Inventories (Dec) were -0.1% vs 0.1% estimate.