- Yesterday we got the final jobs report of the Obama era,
- We got the December Non-Farm Payroll.
- Now technically, when we get the January number, the first Friday of February,
- Half of that would have been during the Obama presidency,
- But because we won’t get the official news until the Trump presidency,
- I’m sure that Donald Trump is going to take the credit, or maybe have to deal with the blame,
- Depending on how that number ends up being received, whether it beats the consensus or misses,
- But this is really the final jobs number for Obama.
- The number came out O.K.
- It missed the consensus estimate, which was 175,000 jobs,
- And the actual number, at least until they revise it next month was 156,000
- So that was below what was expected.
- Now they did revise upward the prior month from 178,000 to 204,000
- And the month before that was revised down a bit
- So I guess, when you take all the revisions, it was probably about a push on the number.
- This report should have been seen as not so good,
- Most of what I was reading was about how strong, not only this report was,
- But the entire job-creation legacy of Barack Obama
- This is what you get from the mainstream media
- That peddles all the fake news
- About what a great economy President Obama is handing off to Donald Trump;
- That we have really low unemployment –
- The official unemployment rate kicked up from 4.6, but still 4.7,
- So, low unemployment, all these jobs being created,
- Forgetting about the fact that once again, you’re talking about low-paying, part-time jobs that have been created
- In fact, the number of Americans not in the work force grows again;
- It wasn’t a big jump, but it was still a jump
- To a new all-time record high.
- So labor force participation has been eviscerated during the Obama years.
