President Trump’s Economic Recovery Rolls On In August

The U.S. Added 1.4 Million Jobs In August As The Unemployment Rate Plummeted To 8.4%, Smashing Analyst’s Expectations As President Trump’s Great American Comeback Continues

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TODAY’S JOBS REPORT DELIVERED MORE GOOD NEWS AS UNEMPLOYMENT FELL TO 8.4%, ITS LOWEST POINT SINCE THE CORONAVIRUS CRISIS BEGAN

Total nonfarm payroll employment rose by 1.4 million in August, beating expectations.

The U.S. has now added more than 10 million jobs in the last 4 months.

Institute for Women’s Policy Research: Jobs numbers “show women gained 58.4% of new jobs on non-farm payrolls.”

 The unemployment rate “tumbled”  1.8% to 8.4%

            The unemployment rate for African Americans decreased 1.6% to 13%

The unemployment rate for Hispanic Americans decreased 2.4% to 10.5%

NBC’S Laura Garcia: The latest jobs report beat analyst expectations as the unemployment rate fell to “the lowest since the pandemic started.”

The report comes amid “a raft of mostly positive economic signals,” with retail sales, real estate and manufacturing showing sharp rebounds off their coronavirus lows.”

CNBC’s Steve Liesman: “The jobs numbers are good news for Pres Trump. The decline in the unemployment rate to 8.4% came w/ more people entering the workforce. It’s  likely to continue to fall as more of the economy opens up.”

AMERICANS ARE REJOINING THE WORKFORCE IN DROVES

The labor force participation rate increased by 0.3% to 61.7 percent.

The number of persons employed part time for economic reasons declined by 871,000 to 7.6 million in August, reflecting a decrease in the number of people who worked part time due to slack work or business conditions.

In August, the number of persons not in the labor force who currently want a job declined by 747,000 to 7.0 million.

CNBC’s Steve Liesman: “A lot more people came back to the workforce and a lot of them found jobs.”

THE RECOVERY IS HERE AND THE U.S. ECONOMY IS MOVING IN THE RIGHT DIRECTION

Andrew Hunter, senior U.S. economist at Capital Economics: “Nevertheless, the August data illustrate that, despite the earlier surge in virus cases and more recent fading of fiscal support, the recovery continues to plow on.”

Politico’s Megan Cassella: “Four straight months of gains is a good sign for the U.S. economy.”

Moody’s Economist: The jobs report is “a good number, good number for the U.S. economy shows that the economic recovery is here.”

Workforce Analyst Joanie Courtney: Today’s Report is “a good sign that we will see future growth and we are moving in the right direction with this recovery.”

TODAY’S JOBS REPORT GARNERED PRAISE FROM THE MEDIA AND ECONOMIC EXPERTS WHO AGREED IT WAS “WONDERFUL NEWS” AND “A BIG WIN FOR AMERICAN WORKERS”

Economist David Rothschild: “Jobs numbers are pretty good.”

CNBC’s Sara Eisen: “No question it was a much better number than was expected.”

CNBC’s Rick Santelli: August jobs report is “wonderful news… this report will lead to even more strength in future reports.”

Former Obama Economic Advisor: Unemployment is “lower even than I thought it would be at the end of the year.”

The Washington Examiner’s Tiana Lowe: “We’ve restored nearly half of the 22.1 million jobs lost during the coronavirus recession, and our unemployment rate has plummeted well past the expectations of the Fed & the CBO.”

Robert Frick, corporate economist at Navy Federal Credit Union: “These jobs numbers reflect a big win for American workers.”

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