Manufacturers add 259,000 jobs in the past year the biggest gain in factory jobs since 1995

[OneHungLo]

Defying fears of a global trade war, U.S. businesses have made it abundantly clear that they see no reason to stop hiring.

Employers added a robust 233,000 jobs in May, up from 159,000 in April, the government said Friday, and helped drive the nation's unemployment rate to an 18-year low of 3.8 percent.

In the midst of all that hiring, the Trump administration has slapped tariffs on steel and aluminum from Europe, Mexico and Canada. The White House is also threatening China with separate duties. And Europe, Mexico, Canada and China have vowed to hit back at U.S. goods.

Yet so far, the trade disputes have done nothing to knock the nearly 9-year-old economic expansion — the second-longest on record — off track. Hiring has actually picked up this year compared with 2017.

"The May jobs report revealed impressive strength and breadth in U.S. job creation that blew away most economists' expectations," said Scott Anderson, chief economist at Bank of the West.

Some economists do remain concerned that the Trump administration's aggressive actions on trade could eventually hamper growth. The direct impact of the tariffs on the nearly $20 billion U.S. economy will likely be scant. But persistent uncertainty about which trading partners might be hit next — and which U.S. products might be penalized in retaliatory moves — could disrupt some companies' expansion plans.

"Risks are brewing ... with the latest round of tariffs on aluminum and steel," said Joseph Song, an economist at Bank of America Merrill Lynch. "However, the concerns so far remain on the periphery."

Should the trade fights worsen, they would most likely affect some of the same industries that have ramped up hiring and lifted the economy. Manufacturers, for example, have added 259,000 jobs in the past year, a 2.1 percent increase. That's the biggest percentage gain in factory jobs since 1995.

Exports have been a big driver of that hiring. In 2017, simultaneous growth in Europe, China, Japan, and some developing countries were a key reason that factory output rose. Now, European officials are threatening to raise tariffs on Harley-Davidson motorcycles and on Levi's jeans.

Roughly an hour before the May employment data was released Friday morning, President Donald Trump appeared to hint on Twitter that a strong jobs report was coming.

"Looking forward to seeing the employment numbers at 8:30 this morning," he tweeted.

The president is normally briefed on the monthly jobs report the day before it is released, and he and other administration officials are not supposed to comment on it beforehand.

Larry Kudlow, the president's top economic adviser, downplayed Trump's tweet.

"He didn't give any numbers," Kudlow said. "No one revealed the numbers to the public."

Investors cheered the jobs data. The Dow Jones industrial average finished up 219 points. Other stock indexes also rose.

The healthy employment figures make it more likely that the Federal Reserve will keep raising interest rates this year — two and possibly three more times, after doing so in March.

Unemployment dropped from 3.9 percent in April. When rounded to one decimal, as the Labor Department typically does, the official jobless rate is now the lowest since April 2000. For women, unemployment has fallen to 3.6 percent, the lowest since 1953.

But the unrounded figure is 3.75 percent, the lowest since December 1969, when it was 3.5 percent. Unemployment remained below 4 percent for nearly four straight years in the late 1960s before reaching 6.1 percent during a mild recession in 1970. It didn't fall below 4 percent again until the dot-com-fueled boom of the late 1990s.

With the unemployment rate so low, businesses have complained for months that they are struggling to find enough qualified workers. But Friday's jobs report suggests that they are taking chances with pockets of the unemployed and underemployed whom they had previously ignored.

Unemployment among high school graduates fell sharply to 3.9 percent, a 17-year low. For black Americans, it hit a record low of 5.9 percent.

And the number of part-time workers who would prefer full-time jobs is down 6 percent from a year ago. That means businesses are converting some part-timers to full-time work.

Companies are also hiring the long-term unemployed — those who have been out of work for six months or longer. Their ranks have fallen by nearly one-third in the past year.

That's important because economists worry that people who are out of work for long periods can see their skills erode.

Those trends suggest that companies, for all their complaints, are still able to hire without significantly boosting wages. Average hourly pay rose 2.7 percent in May from a year earlier, below the 3.5 percent to 4 percent pace that occurred the last time unemployment was this low.

And there may be more of those workers available. The number of involuntary part-time workers is still higher than it was before the 2008-09 recession.

Martha Gimbel, director of economic research at Indeed, the job-listing site, said some of the fastest-growing search terms on the site this year are "full-time" and "9-to-5 jobs," evidence that many people want more work hours.

"That suggests there is still this pool of workers that employers can tap without raising wages," Gimbel said.

Debbie Thomas, owner of Thomas Hill Organics, a restaurant in Paso Robles, California, said that finding qualified people to hire is her biggest challenge. She has raised pay by about a dollar an hour in the past year for cooks and dishwashers but is reluctant to go much higher.

"You don't want to price yourself out of the market," Thomas said.

The report comes amid other signs that the economy is picking up. Consumer spending rose in April at its fastest pace in five months. And companies are also stepping up spending, buying more industrial machinery, computers and software — signs that they're optimistic enough to expand. A measure of business investment rose in the first quarter by the most in 3½ years.

Macroeconomic Advisers, a forecasting firm, said it now foresees the economy expanding at a robust 4.1 percent annual pace in the April-June quarter, which would be the fastest in nearly four years. The economy expanded just 2.2 percent in the first quarter.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

US employers keep on hiring despite growing trade concerns - Orlando Sentinel

[Rochard]

#thanksobama

[mineistaken]

Donald MAGA! Appreciate peoples president!

[BaldBastard]

As the article says.. its awesome America is continuing on its 9 years of growth!!

But then it rambles on about the effect of Tariffs, when no tariffs have been implemented yet, and even when they are, its going to take time for the effects to trickle down.

The single biggest boost is not even mentioned, where Trump changed laws so companies could bring home stolen loot from tax havens. That was the biggest financial boost the USA has ever had, bringing trillions of dollars back to the American economy.. yet its not even mentioned? I guess because it was a one off event??

And then look. mid article it drops the truth bomb.. "Exports have been a big driver of that hiring. In 2017, simultaneous growth in Europe, China, Japan, and some developing countries were a key reason that factory output rose."

Here in Aus the unemployment rate is 5.5%, I don't think I have seen anyone alarmed at that, its a steady number that we kinda see as full employment, Immigration numbers are up.. because we don't have enough workers, anyone who wants a job can find 3.

So its GOOD the USA is still following worldwide trends!... But really disappointing that 2.5 trillion returned from parked money has resulted in so few jobs being created.

[pimpmaster9000]

quoting article:

Yet so far, the trade disputes have done nothing to knock the nearly 9-year-old economic expansion — the second-longest on record —





thanks obama!

[OneHungLo]

Originally Posted by crucifissio

quoting article:

Yet so far, the trade disputes have done nothing to knock the nearly 9-year-old economic expansion — the second-longest on record —





thanks obama!

What exactly did Obama do to spur the economy? Really he was riding GW's QE and bank bailouts that worked. It's funny you had the same stance as Obama about the jobs coming back. Get used to eating crow.

[Bladewire]

Originally Posted by OneHungLo

What exactly did Obama do to spur the economy?

You want to relitigate the last 9 years and act like the economy didn't recover under Obama, wow. Very intellectually dishonest of you.

[Robbie]

Wait a minute!
President Obama told us those good factory jobs were gone and were never coming back.

This can't be true!

[OneHungLo]

Originally Posted by Bladewire

You want to relitigate the last 9 years and act like the economy didn't recover under Obama, wow. Very intellectually dishonest of you.

Im asking a simple question: what did Obama do to spur the economy? IMHO even tho GW got us into that recession, most of the rebound was from QE and the bank bailouts. Can you point to me anything specific that Obama did.. like Trump's like tax cuts, repatriating trillions in overseas cash, deregulation, better trade deals...you know, things that grow jobs and the economy?

[beerptrol]

Originally Posted by Robbie

Wait a minute!
President Obama told us those good factory jobs were gone and were never coming back.

This can't be true!

Factory job doesn't mean a quality high paying with benefits job! There's plenty of shitty factory jobs out there

Seems Chump is more interested in saving Chinese jobs

[beerptrol]

Originally Posted by Bladewire

You want to relitigate the last 9 years and act like the economy didn't recover under Obama, wow. Very intellectually dishonest of you.

He's a Trump supporter, what do you expect!

[beerptrol]

Here' some news the OP won't post. Chump and his staff admitted he wrote the letter. The one Jr testified that his dad had nothing to do with. They both denied Chump wrote it. Both liars

[brassmonkey]

Originally Posted by Robbie

Wait a minute!
President Obama told us those good factory jobs were gone and were never coming back.

This can't be true!

corporate greed is why those high paying factory jobs are gone as well as technology. those people that trained to run machines are now in high demand. the line workers are out of work.

[huey]

I will be the first to say Obama was dealt one of the shittiest hands possible at the start of his term with what he was left with by Bush, Rumsfeld, Cheney, and the banks.

He did a good job of not panicking and the QE worked to bail everyone out at the middle class's expense.

The economy had only one way to go which was up. I would say Trump's positive message/spin on maga has at least half of the county believing the usa can move forward and improve the life of the middle class. This is half the battle and why I think the stock market and jobs numbers are improving. It is more psychologically driven then most people think.

Weather you liked Obama or not. Weather you like Trump or not the USA is on a decent roll which we all know impacts the rest of the world.

Something is getting done right.

[brassmonkey]

i was like wtf is a maga??

Originally Posted by huey

I will be the first to say Obama was dealt one of the shittiest hands possible at the start of his term with what he was left with by Bush, Rumsfeld, Cheney, and the banks.

He did a good job of not panicking and the QE worked to bail everyone out at the middle class's expense.

The economy had only one way to go which was up. I would say Trump's positive message/spin on maga has at least half of the county believing the usa can move forward and improve the life of the middle class. This is half the battle and why I think the stock market and jobs numbers are improving. It is more psychologically driven then most people think.

Weather you liked Obama or not. Weather you like Trump or not the USA is on a decent roll which we all know impacts the rest of the world.

Something is getting done right.

[Brian mike]

Originally Posted by brassmonkey

i was like wtf is a maga??

Make America Great Again

[Robbie]

Except Trump didn't "grope" anybody.
He simply told Bush on that video that he didn't know was being recorded...that he was able to kiss women or "grab 'em by the pussy" and THEY LET HIM.

That's not any big news to the guys from Motley Crue, The Rolling Stones, Led Zeppelin, Elvis, Justin Bieber, Frank Sinatra...or any celebrity from any era.

There have always been groupies of celebrities...there always will be.

Of course the media knew that...but hey, it's Trump! So go after him.

Being in a band for my entire adult life...we had groupies in every town we played in.
And when I did the independent pro wrestling circuit we also had groupies. Wrestlers call them "ring rats".

Golfers have groupies, football players have groupies...pretty much every celebrity of any kind have groupies.
Always been that way and always will be.

[Fat Panda]

varies goods news fors usas laborers

[Busty2]

Thanks Obama, You the Man !

[OneHungLo]

Originally Posted by beerptrol

Factory job doesn't mean a quality high paying with benefits job! There's plenty of shitty factory jobs out there

Good, now go get one instead of spending your days on here crying about Trump.

[slapass]

Guys, Obama started it but so far Trump has not fucked it up. Higher rates are here. I am seeing a slow down in what I do. It is over, we just don’t see it yet.

[pimpmaster9000]

Originally Posted by OneHungLo

What exactly did Obama do to spur the economy? Really he was riding GW's QE and bank bailouts that worked. It's funny you had the same stance as Obama about the jobs coming back. Get used to eating crow.

yeah 0.2% increase in total jobs is great news...those jobs are just booming back

now for phase 2 where trump will make americans buy their own over priced un competitive shit

reality: trump has to blackmail other countries in to buying your un competitive shit

[overdose]

wow, more factory jobs, wow... like the country didn't have enough non-thinking droids already