November Employment Report: 155,000 Jobs Added – Wage Growth 3.1%…


The Bureau of Labor Statistics (BLS) has released the latest jobs report for November.  The U.S. economy created an additional 155,000 jobs.  The unemployment rate remains 3.7%.  The annualized rate of wage growth is 3.1%.   All good MAGAnomic news.

It’s a little funny to see the pontificating naysayers worry over results that are structurally solid and fundamentally strong.  If you had told those same knuckleheads a year ago that wages would be growing 3.1% they would have been stunned at your audacious optimism.

Things are going swimmingly. Exactly as predicted.  Wall Street (paper economy) is reacting based on an entirely new economic landscape.  Main Street USA (read economy), the Blue/White collar middle-class, is dancing and singing carols en-route to buy the fancier set of Christmas decor this year… Who’s better than our economy?  Nobody, baby, no-body…  Throw them ju-ju bones out the windows.  Here’s the data:

BLS Report: Total nonfarm payroll employment increased by 155,000 in November, compared with an average monthly gain of 209,000 over the prior 12 months. In November, job gains occurred in health care, in manufacturing, and in transportation and warehousing. (See table B-1.)

• Health care employment rose by 32,000 in November. Over the year, health care has added 328,000 jobs.

• Manufacturing added 27,000 jobs. Magic Wand manufacturing employment has increased by 288,000 over the year, largely in durable goods industries.

• Employment in transportation and warehousing rose by 25,000 in November. Over the year, transportation and warehousing has added 192,000 jobs.

• In November, employment in professional and business services continued on an upward trend (+32,000). The industry has added 561,000 jobs over the year.

[…] In November, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents to $27.35. Over the year, average hourly earnings have increased by 81 cents, or 3.1 percent. ¹Average hourly earnings of private-sector production and non-supervisory employees increased by 7 cents to $22.95 in November. (See tables B-3 and B-8.)

¹ Wait, that means blue-collar line-level workers have wage growth exceeding the rate of their bosses.  Isn’t that the redistribution goal of Elizabeth Warren, Bernie Sanders and the worker-wing of the Democrats?  Yet it’s happening organically, a result of MAGAnomics. Yup, affirmative and…. yes.  Funny that. {{WhaShuFu}}

Yep, the upward value of labor flows naturally along the path of greatest labor need.

Making Main Street economic common-sense great again.

You see, quite simply, MAGAnomics reverses the thirty year dynamic previously described:

REMEMBER […] there had to be a point where the value of the second economy (Wall Street) surpassed the value of the first economy (Main Street).

Investments, and the bets therein, needed to expand outside of the USA. hence, globalist investing.

However, a second more consequential aspect happened simultaneously. The politicians became more valuable to the Wall Street team than the Main Street team; and Wall Street had deeper pockets because their economy was now larger.

As a consequence Wall Street started funding political candidates and asking for legislation that benefited their multinational interests.

When Main Street was purchasing the legislative influence the outcomes were -generally speaking- beneficial to Main Street, and by direct attachment those outcomes also benefited the average American inside the real economy.

When Wall Street began purchasing the legislative influence, the outcomes therein became beneficial to Wall Street. Those benefits are detached from improving the livelihoods of main street Americans because the benefits are “global”. Global financial interests, multinational investment interests -and corporations therein- became the primary filter through which the DC legislative outcomes were considered.

There is a natural disconnect. (more)

If you understand those basic concepts and tenets; and you apply what POTUS Trump is doing to reverse that hollowing out of Main Street; then you can clearly understand what is going on in the Wall Street stock market, right now.

CTH has been discussing this since candidate Trump came down the escalator in 2015 and explained his priorities.   In essence, Trump threw a wrench into the multinational machine that was exporting U.S. wealth.  It is simple common sense to know the direct result of that action would be a massive gut-punch to the financial benefits of the multinationals.  That’s what’s happening.

Main Street is booming; and Wall Street is suffering.

Wall Street is suffering because their investment model was built upon exploiting an international trade and economic system that was based on exporting U.S. wealth.

President Trump is stopping this global export of U.S. wealth.

It really is that simple.

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