The American economy is the envy of the world because of President Trump. Why would any rational American vote for any of the deranged Democrats in 2020? #Trump2020!
Strong job growth is back: Payrolls jump in June well above expectations
- Nonfarm payrolls rose 224,000 in June, well above market expectations of 165,000, according to the Labor Department.
- The unemployment rate edged higher to 3.7% but was still near 50-year lows.
- Wage growth was 3.1% year over year, one-tenth of a point below market expectations.
- Stocks opened lower on the news and government bond yields surged.
By Jeff Cox, CNBC, July 5, 2019:
Payroll growth rebounded sharply in June as the U.S. economy added 224,000 jobs, the best gain since January and running contrary to worries that both the employment picture and overall growth picture were beginning to weaken. The unemployment rate edged up to 3.7% as labor force participation rose, according to the Labor Department.
Economists surveyed by Dow Jones had expected nonfarm payrolls to rise by 165,000 and the unemployment rate to hold steady at 3.6%. May’s initially reported growth of 75,000 had raised doubts about the durability of the record-setting expansion that began a decade ago. The May count was revised lower to 72,000.Federal Reserve policymakers have been watching the jobs numbers closely.Markets have been widely anticipating that the central bank will cut its benchmark interest rate later this month, regardless of what the June payrolls count showed.
The stock market opened lower as investors contemplated what the report might mean for expectations that the Fed will be cutting interest rates later this month in an effort to stave off a widely expected economic slowdown through the year. Government bond yields surged, with the benchmark 10-year note up nearly 10 basis points to about 2.05%.
Under President Trump America is loud and proud.
The Truth Must be Told
Your contribution supports independent journalism
Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.
Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.
Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.
Please contribute to our ground-breaking work here.
Make a monthly commitment to support The Geller Report – choose the option that suits you best.