Unemployment Rate Hits The Lowest Level Since 1969 Does Obama Still want Credit?

Even though job growth has stalled a bit in September, 'the unemployment rate dropped to a point not seen in nearly 50 years.'

Job creation for September fell to its lowest level in a year though the unemployment rate dropped to a point not seen in nearly 50 years, according to Labor Department figures released Friday.

The unemployment rate fell two-tenths of a percentage point to 3.7 percent, the lowest level since December 1969 and one-tenth of a percentage point below expectations.

www.cnbc.com...

Stocks are taking a hit because the U.S. gained 134,000 jobs in September, which was below the expected gain of 185,000 jobs. However, wages grew 2.8% in August, with the addition of 270,000 jobs.

Job gains for August also received a sharp upward revision to an addition of 270,000 jobs from 201,000. Wages, meanwhile, grew by 2.8 percent last month on a year-over-year basis to match expectations.

www.cnbc.com...

One economist stated that the labor market is the best it has been in 50 years.

"The labor market is in excellent shape heading into the end of 2018, perhaps the best it has been in 50 years," said Gus Faucher, chief economist at PNC. "Job growth was a bit softer in September, but some of that was from Hurricane Florence, and it should bounce back through the rest of 2018 and into 2019."

www.cnbc.com...

Even unemployment for black Americans continues to be near a record low 6%, but there are those who still think Trump's policies are not the reason for the current economic success. So, should Obama still take credit for this? Why does Obama still insist he's responsible for the good economy?

From Dec. 2017:


From Sept. 2018:


Reminds me of the harsh negativity, that was spewed by Hillary at her 2016 rally in Raleigh, North Carolina, concerning Trump's ability to improve the nation's economy.

For a good laugh, fast forward to 1:10 in the videso clip below:


Even back in January of 2018, it was noted that Trump had actually done something that Obama could not...deliver on promised GDP growth.

Trump Just Did Something Obama Never Could — Deliver On Promised GDP Growth

What did Trump's economists say GDP growth for 2017 would be? Well, they said it would be 2.3% — exactly what the economy delivered, according to the BEA.

But it turns out that there was not a single year under President Obama when his economic forecast held up. (See the nearby chart.)

What does it say about Obama's economists that they were always too optimistic about the impact of his tax-spend-and-regulate policies, while Trump's economists got growth right, and might have even lowballed it?

www.investors.com...

Ahem...what was the GDP growth back in September?

Released on September 27, 2018:

Real gross domestic product (GDP) increased at an annual rate of 4.2 percent in the second quarter of 2018, according to the "third" estimate released by the Bureau of Economic Analysis.

www.bea.gov...

Sorry Obama, but you should really stop tooting your own horn. President Trump's policies alone are responsible for the economic success we're currently enjoying. Why don't you roll a 'fat one', kick back and let the Chairman of the Council of Economic Advisers teach you a few things:

a reply to: shawmanfromny

Even if Obama/Trump take credit, it's not really that great of a metric in context.

The numbers are so low because the middle class hasn't seen wage increases that match inflation.

Many people who should be retired are going back to work to make ends meet, and many people have two or more jobs.

The US has seen steady growth, and increase in productivity, yet the middle class is shrinking every year, surpassed by Canada for the first time a year or two ago.

And NK has not tested a nuke or fired a missile since the summit, Canada ,Mexico ,and the EU all caved to Trumps Tariffs .

Trump is killing it.

hehe

US weekly jobless claims drop to lowest level since 1969

Which is it jobless claims or Unemployment? Pretty big difference.

nitial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 210,000 for the week ended Feb. 24, the lowest level since December 1969.

www.cnbc.com...

Does Obama Still want Credit?

Why should an empty chair get credit for being out of office for two years?

a reply to: shawmanfromny

Obama did all kinds of cool things. He won the Iraq war. He killed Ossama Bin Liden (and then buried him at sea - and everyone believes it!). He spied on journalist and even jailed a couple to make sure our country was safe from them. He came up with the ACA which has cost me thousands of dollars more than I should have had to spend but its ok because he knows what is best. He lives on the moon. He is made of gold. He is smarter than all of us combined. He is handsome, well actually the most handsome man in the world. He treats all women and gays and people of color fairly and with grace and honor. I mean there really isn't anything negative you could ever say about him and if you could actually think of something negative then that's probably your retarded racist mind that just needs a little "loving re-education".

a reply to: notsure1

Yeah, he is killing something alright. But it is nothing good however you wish to spin it in your head!

I'm sure obama is still trying to figure out what this "magic wand" is that he said trump needed to wave to effect the economy and jobs in the way he promised during the campaign.

It's understandable obama is having a hard time finding the answer.

I'll help him out, it's called a penis barry. That's trumps magic wand. If you need further research ask M to show you hers and explain how it works.

originally posted by: Tompdx3
a reply to: notsure1

Yeah, he is killing something alright. But it is nothing good however you wish to spin it in your head!

This is called "denial"

originally posted by: notsure1

originally posted by: Tompdx3
a reply to: notsure1

Yeah, he is killing something alright. But it is nothing good however you wish to spin it in your head!

This is called "denial"

Or just the partisan circle jerk.

Trump supporters say the economy is great because of him. The left says this is all coming in from the end of Obama's reign.

Aside from the stock market, the economy isn't that great. Considering nothing fixed what happened in 08', it surely could happen again, and many say it may be worse.

If you look at average Americans, their pay isn't increasing, and debt continues to mount on them and the country.

originally posted by: notsure1
hehe

Yes, I assume being born rich would be quite the dream.

ObaMao only knows how to do two things... take credit for anything that is even remotely positive despite the fact it’s patently obvious he had nothing to do with it (the Allies winning WWII 😜) and shift blame to anyone within arms reach for anything that is in the least little bit negative...

originally posted by: Fools
a reply to: shawmanfromny

Obama did all kinds of cool things. He won the Iraq war. He killed Ossama Bin Liden (and then buried him at sea - and everyone believes it!). He spied on journalist and even jailed a couple to make sure our country was safe from them. He came up with the ACA which has cost me thousands of dollars more than I should have had to spend but its ok because he knows what is best. He lives on the moon. He is made of gold. He is smarter than all of us combined. He is handsome, well actually the most handsome man in the world. He treats all women and gays and people of color fairly and with grace and honor. I mean there really isn't anything negative you could ever say about him and if you could actually think of something negative then that's probably your retarded racist mind that just needs a little "loving re-education".

ALL HAIL HALF BLACK JESUS... ALL HAIL... 💩👍🏾

originally posted by: MisterSpock
I'm sure obama is still trying to figure out what this "magic wand" is that he said trump needed to wave to effect the economy and jobs in the way he promised during the campaign.

It's understandable obama is having a hard time finding the answer.

I'll help him out, it's called a penis barry. That's trumps magic wand. If you need further research ask M to show you hers and explain how it works.

Also two Yuge balls that he bounces off the chins of his enemies Bigly... 😜👍

originally posted by: CriticalStinker

originally posted by: notsure1

originally posted by: Tompdx3
a reply to: notsure1

Yeah, he is killing something alright. But it is nothing good however you wish to spin it in your head!

This is called "denial"

Or just the partisan circle jerk.

Trump supporters say the economy is great because of him. The left says this is all coming in from the end of Obama's reign.

Aside from the stock market, the economy isn't that great. Considering nothing fixed what happened in 08', it surely could happen again, and many say it may be worse.

If you look at average Americans, their pay isn't increasing, and debt continues to mount on them and the country.

Normally I would say that a president alone cannot have a total effect on an economy. Trump is an exception. His massive cancellation of business regulations set this in motion. It really did, and it is kind of funny that no president attempted that before. Were they afraid to? Did they just not think of it? Or was it because most of them were lawyers by trade and have no idea what running a real business is like. I mean face it, a lawyer gets more wealth by influence, not by actual work or some sort of product that he or she produces. They have no idea how lawfare messes with business and frankly they don't care because it enhances and makes their industry more wealthy. As a matter of fact I would say with much reason that we have lived in the "age of lawfare" since the end of World War 2. Probably longer.

Also the way that he is handling trade deals on a per nation basis instead of a "group of nations" basis is also very smart. Makes you wonder why we (and everyone else for that matter) have been doing it in this globalist manner for so long.

a reply to: Fools

I see where you are coming from, and most of those points are valid.

But we will see if there is any "trickle down", or if corporations/stock holders just pocket it.

a reply to: shawmanfromny

The government is counting individuals who have multiple part-time jobs as multiple people employed. Also, anyone who is no longer collecting unemployment benefits is not counted as "unemployed", even though they are (I believe your benefits only last for 32 weeks, if you're doing your job searches and have no income)

Also, anyone not actively looking for a job is not considered "unemployed" in their stats. The number they are sharing is a total farce

I would suggest looking at Shadowstats by John Williams for a more realistic stat: link

a reply to: CriticalStinker

I don't think his plan is "trickle down" in the same sense as the Reagan plan was. That is pretty much propaganda. What Trumps plan is seems to be more of a "untie their hands" policy.

One thing I find a little suspicious is that the Fed hadn't raised interest rates in such a long time now are. I wonder if they are doing so to actually cool things down or if there is another motive.

I would bet that Trump will start working to reign in the Fed in some way after the mid terms - that is if the Republicans keep their majority.

If not, we will just see more endless circus BS. Even though that would be true, Trump doesn't seem to care. He will keep doing whatever he can to push his agenda.

originally posted by: neo96
Does Obama Still want Credit?

Why should an empty chair get credit for being out of office for two years?

Just for fun, here is the video of Obama saying Trump couldn't bring in more jobs and that he would need a magic wand to do so.