TRUMP ECONOMY ROARS … 313 JOBS ADDED IN FEBRUARY!!!
Via CNBC, the U.S. economy added a whopping 313,000 jobs in February smashing the 200,000 jobs estimated. Construction jobs lead the way with 61,000 followed by retail at 50,000, business services at 50,000, manufacturing with 31,000, financial activities with 28,000 and healthcare with 19,000. Even mining saw 9000 new jobs. There were also adjustments upward in the previous two months, December went from 160,000 to 175,000 while January saw a boost from the initially reported 200,000 to 239,000. The DOW jumped 200 points upon the fantastic jobs report. President Donald Trump’s economic vision is working for America and Making America great again! America, this is the Trump economy and it is his policies and visions, which are 180 degrees opposite of his predecessor that are making the difference. This would never had happened had Hillary Clinton won or will it continue to occur if Democrats seize control of power in either the House or Senate in 2018. The Resistance, eh? What exactly are Democrats, the LEFT and the MSM resisting? Prosperity?
The economy added 313,000 jobs in February, crushing expectations, while the unemployment rate remained at 4.1 percent, according to a Labor Department report Friday that could help quell inflation fears.
Economists surveyed by Reuters had been expecting nonfarm payroll growth of 200,000 and the unemployment rate to decline one-tenth of a percent to 4 percent.
A separate measure that takes into account those out of the workforce and the underemployed — sometimes referred to as the “real” unemployment rate — held steady at 8.2 percent.
Construction jobs led the way, with 61,000 new positions, followed by retail and professional and business services (50,000 apiece), manufacturing (31,000) and financial activities (28,000). Health care added 19,000 while mining saw 9,000 new jobs.
Investors were watching the report closely not only for clues about job growth but also whether wage pressures were continuing to build. Wage growth came in less than expected, rising 0.1 percent for the month and 2.6 percent on an annualized basis.
In addition to the big job growth, previous months’ counts were revised substantially higher. December went from 160,000 to 175,000 while January saw a boost from the initially reported 200,000 to 239,000. That brings the three-month average to 242,000.
Among the major worker groups, the unemployment rate for Blacks declined to 6.9 percent in February, while the jobless rates for adult men (3.7 percent), adult women (3.8 percent), teenagers (14.4 percent), Whites (3.7 percent), Asians (2.9 percent), and Hispanics (4.9 percent) showed little change. (See tables A-1, A-2, and A-3.)
THE TRUMP ECONOMY CONTINUES TO GROW JOBS …
ADP and Moody’s Analytics. reports that private payrolls rose by 235,000 in February, well above Wall Street estimates of 195,000. The United States has gone from Barack Obama, the food stamp president, to Donald Trump, the jobs president. Trump is definitely making America great again!
Job creation saw another powerful month in February, with companies adding 235,000 positions, ADP and Moody’s Analytics reported Wednesday.
The total again defied Wall Street expectations, as economists surveyed by Thomson Reuters were expecting payrolls to grow by 195,000. Growth actually decelerated slightly, as January posted an upwardly revised 244,000 from the initially reported 234,000.
February marked the fourth month in a row that private payrolls hit 200,000 or better.
“The job market is red hot and threatens to overheat,” Mark Zandi, chief economist at Moody’s, said in a statement. “With government spending increases and tax cuts, growth is set to accelerate.”
February saw broad-based gains that stretched across both the services and goods-producing sectors.
Leisure and hospitality led industry groups with 50,000 jobs, while professional and business services contributed 46,000 and trade, transportation and utilities added 44,000.
However, construction rose 21,000 and manufacturing notched 14,000 new positions. In all, goods-producing industries increased by 37,000 while all services-related businesses added 198,000.
Warren Buffett’s Annual Letter Says Berkshire Hathaway Received $29 Billion From New GOP-Trump Tax Code
BUFFET FOR AGAINST IT, BEFORE HE WAS FOR IT …
Warren Buffett, Chairman and CEO of Berkshire Hathaway, stated in his annual letter to Berkshire Hathaway investors that Berkshire Hathaway (BRKB) made a $65.3 billion net gain in 2017, but only $36 billion came from Berkshire’s operations and his brilliance. The other $29 billion came from the Republican-Trump tax cuts. Namely, the reduction in corporate tax rates. Imagine that 55.4% of Berkshire’s net gains came from Buffet’s efforts while 44.6% came from Trump and the Republicans. This from the man who backed Hillary Clinton and condemned the Trump policies on taxes. Oops, looks like the so-called Wizard of Omaha got that one 100% wrong. Every right thinking person without a political bias knew Trump was going to be good for the economy. Even the likes of Warren Buffet were wrong and tainted by their liberal bias.
It would appear that Donald Trump trumped Buffett.
Buffett told investors that Berkshire Hathaway (BRKB)made a $65.3 billion net gain in 2017 — but “only $36 billion came from Berkshire’s operations.”
The rest was a gift from the new U.S. tax code.
“A large portion of our gain did not come from anything we accomplished at Berkshire,” he wrote, adding that about $29 billion of that $65.3 billion gain came from changes to the tax law.
Buffett went on to extol Berkshire’s investing methods. Careful decisions and an aversion to debt and speculation has gotten the firm this far — and that’s the course it’ll stay on, he said.
But remember when Warren Buffet was against the Trump Tax plan? I am certain the Berkshire Hathaway investors are glad Trump went against the wishes of the individual they put all their trust in with their investments. I wonder who the investors of Berkshire Hathaway feel that the individual in charge of their investments cared more about politics than he did his fiduciary responsibility to their monies?
President Donald Trump’s tax reform plan came under new criticism on Tuesday from two towering Wall Street figures, including billionaire investor Warren Buffett, who called into question a Republican drive to slash the U.S. corporate rate.
With the White House and top Republicans in Congress already on the defensive over claims the plan would not cut taxes for many middle-class Americans, Buffett and BlackRock Chief Executive Larry Fink suggested in separate interviews that the corporate rate may not have to be cut as deeply as proposed.
“We have a lot of businesses… I don’t think any of them are non-competitive in the world because of the corporate tax rate,” Buffett, thechairmanand CEO of Berkshire Hathaway, told CNBC.
JANUARY 2018 JOB GROWTH UP 200,000!!!
As reported at CNBC, And the jobs keep on coming … Bloomberg reports that the jobless rate held at 4.1 percent, matching the lowest since 2000, while average hourly earnings rose a more-than-expected 2.9 percent from a year earlier, the most since June 2009.
Nonfarm payrolls grew by 200,000 in January and the unemployment rate was 4.1 percent, the Bureau of Labor Statistics said in a closely watched report from Friday.
Economists surveyed by Reuters had been expecting jobs growth of 180,000 and an unemployment rate of 4.1 percent. A broader measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons edged higher to 8.2 percent, the highest level since September.
In addition to the solid payroll growth, average hourly earnings were up 0.3 percent for the month, matching estimates and reflecting an annualized gain of 2.9 percent. However, the average work week fell two-tenths to 34.3 hours.
BOOM!!! ADP/Moody’s Analytics: Private Payrolls Grow by 234,000 in January 2018 vs 185,000 Expected (VIDEO)
AND THE TRUMP ECONOMY AND JOBS KEEPS ON COMING …
From CNBC comes the following fantastic jobs news … ADP and Moody’s Analytics state that private companies hired 234,000 jobs in January, 2018. That is far above the 185,000 jobs that was expected. Of the 234,000 jobs, 212,000 new jobs were service related, manufacturing added 12,000 and construction added 9,000. At this rate we are going to run out of workers to fill the jobs and then look for wages to truly increase as companies vie for talent.
- Private companies hired 234,000 jobs in January, well above expectations for 185,000, according to ADP and Moody’s Analytics.
- Service-related industries led with 212,000 new jobs; manufacturing added 12,000 and construction 9,000.
- The report often differs significantly from the government’s more closely watched nonfarm payrolls count, with ADP reporting growth of 242,000 in December vs. the Labor Department’s 148,000.
The new year got off to a strong start for job creation, with businesses adding 234,000 in January, according to a report Wednesday from ADP and Moody’s Analytics.
Economists surveyed by Reuters had been looking for private payrolls to grow by 185,000.
Job creation was concentrated largely in service-related industries, which contributed 212,000 to the total.
Within that sector some of the better-paying industries showed solid gains: Trade, transportation and utilities led with 51,000, education and health services added 47,000 and professional and businesses services contributed 46,000. Leisure and hospitality services also grew by 46,000.
“The job market juggernaut marches on,” Mark Zandi, chief economist at Moody’s Analytics, said in a statement. “Given the strong January job gain, 2018 is on track to be the eighth consecutive year in which the economy creates over 2 million jobs. If it falls short, it is likely because businesses can’t find workers to fill all the open job positions.”
ADP’s latest count comes with the national unemployment rate at 4.1 percent, though wage pressures remain muted. Economic growth overall has been solid, with the Atlanta Fed projecting the economy to grow 4.2 percent in the first quarter.
In an interview with CNBC, Zandi said the current pace of job growth suggests an unemployment rate of 3.5 percent by the end of 2018