July Market Figures Highlight How Elimination Or Revision Of Regulations
Has Affected The US
August 4, 2017
“U.S. employers hired more workers than expected in July and raised their wages, signs of labor market tightness that likely clears the way for the Federal Reserve to announce a plan to start shrinking its massive bond portfolio.
The Labor Department said that nonfarm payrolls increased by 209,000 jobs last month amid broad-based gains. June’s employment gain was revised up to 231,000 from the previously reported 222,000.
Average hourly earnings increased nine cents, or 0.3 percent, in July after rising 0.2 percent in June. That was the biggest increase in five months. On a year-on-year basis, wages increased 2.5 percent for the fourth straight month.
“It was strong across the board. It puts (the Fed) still on track to start the program to wind down the book in September and it’s a long ways off in December for the next rate hike,” said Justin Lederer, an interest rate strategist at Cantor Fitzgerald in New York.”
(A few highlights from the article:)
1- Economists expect the Fed will announce a plan to start reducing its $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities at its next policy meeting in September.
2- Prices of U.S. government debt fell after the data while U.S. stock index futures added to gains. The dollar rose sharply against a basket of currencies.
3- July’s decline in the jobless rate came even as more people entered the labor force, underscoring job market strength.
4- Manufacturing payrolls increased by 16,000 jobs, the largest increase since February. Employment in the automobile sector rose by 1,600 despite slowing sales and bloated inventories
5- Construction firms hired 6,000 workers last month. Hiring at homebuilding sites increased 5,100 last month. The professional and business services sector added 49,000 workers to its payrolls last month.
Read the article HERE.
Additional Government Analysis Pdf – Leisure and hospitality added 62,000 jobs in July. Education and Health services accounted for 549,000 of the gain. Professional and Business Services gained 49,000. While not significant large in changes, these figures do point to an uptick. Of course we do need to be cautious since some of the figures are most certainly affected by typical vacation month needs.
For those that still want to say President Trump is a total whack job, these figures are at least partial vindication of where he saw the stifling of our economy and took measures to stop the decline. Some comment that Obama had a “healthy” robust market during his presidency but six months into this new administration even with all of the chaos these figures point to a different scenario. One where the past president made sure that on one hand figures “appeared” to support his “effective market strategy” but in most cases on the other hand through his lax use and allowance of regulations was choking off the markets.
That there continues to be a major assault against this president from the UniParty in congress is unconscionable and highlights exactly which ones owe their allegiance to outside interests especially foreign. Those should be eliminated from the next round of incoming congress along with all the career politicians so that more conservatives can be placed there in order to better represent the public interest not those behind the deep state run by globalists like Sporos or fundamentalist radical State of Islam groups.