President Donald Trump is back and workers have jobs!
Elected just four months ago, inaugurated a few weeks ago and boom! — the Donald Trump effect continues to shake up society. For the better.
For instance, in something as basic as employment, workers are working according to new U. S. Bureau of Labor Statistics data released yesterday morning:
Payroll employment rises by 143,000 in January; unemployment rate edges down to 4.0%
Total nonfarm payroll employment rose by 143,000 in January, and the unemployment rate edged down to 4.0 percent. Job gains occurred in health care, retail trade, and social assistance. Employment declined in the mining, quarrying, and oil and gas extraction industry.
Meanwhile labor force participation snailed up to 62.6%, up 0.1 percentage point from December, i.e., some who wanted to work actually found a job. However, the news is not perfect as miners, and oil and gas workers lost jobs, and this skillset doesn’t easily transition to fields which require other skills and/or education.
But next month’s report will certainly begin to reflect Trump’s buyout offer to government workers, and might show a drop in employment. And of course the effects of the destructive California wildfires and the devastating hurricanes, which struck North Carolina and neighboring states, will probably continue to skew the employment statistics.
Meanwhile, artificial intelligence (AI) is shaking up the workforce.
But, aside from the extremely poor loser attitude of the election losers, there are signs of hope. An experienced president and businessman is back at the helm with slim Congressional majorities to back him. Fasten your seat belts (always a good idea) as there is no doubt more good news to come.
Image: Free image, Pixabay license.