President Trump’s enemies will stop at nothing to destroy him. First, they conspire with the U.S. intelligence services to concoct a cockamamie story about how his buddy Vlad helped get him elected. Now, they’re working with the Labor Department to make it look like the economy’s in Great shape even before he Makes it so Again, giving that left-wing stooge Janet Yellen all the ammunition she needs to raise rates and torpedo the Trump economic renaissance in its tracks.
Nonfarm payrolls rose by a seasonally adjusted 156,000 in December from the prior month, a slowdown from November’s more robust gain, the Labor Department said Friday. For all of 2016, the economy added just under 2.2 million jobs, the smallest gain for a calendar year since 2011.
The unemployment rate ticked up to 4.7% last month, but remains historically low. Wages showed new signs of firming, rising at the best annual rate since 2009, a sign that more than seven years into a slow-growing expansion labor-market conditions are finally tightening enough to reap payoffs for workers….
The combination of emerging wage gains and steady hiring likely keeps the Federal Reserve on a path toward raising short-term interest rates cautiously and gradually in the months ahead.
Job Growth Slows in December; Wages Post Best Gains Since 2009 [WSJ]
Jobs Report Fits Fed Outlook for Labor Market Gains, Rate Raises [WSJ]
Economists React to the December Jobs Report: ‘Very Close to Full Employment' [WSJ]