President Donald Trump took the opportunity to use the weekly address to discuss his perspective on the next supreme court nominee who is scheduled to be announced Monday July 9th, at 9:00pm.

The Bureau of Labor Statistics presents the latest snapshot of jobs and employment.  According to the BLS data, behind the 213,000 jobs added, the most significant gains all center around growth in durable goods, manufacturing, transportation/distribution and the ancillary business services directly connected to the blue collar sector.

In addition, April was revised up from +159,000 to +175,000, and the change for May was revised up from +223,000 to +244,000. With these revisions, employment gains in April and May combined were 37,000 more than previously reported.

In the macro-review things are looking great; however, when you go into the micro-review you discover things are even better, they are MAGAnificent.

To understand what is happening we must all remember the Trump MAGAnomic policies are geared toward enhancing the creation of “goods”; the production of physical “stuff”; the manufacturing and durable good sector; or put another way: Main Street/Blue Collar work.   MAGAnomic policy is geared toward expanding the production base of the U.S. economy.  Therefore all majority benefit will be necessarily attached to those workers and industries that are part of the expanding production base.

Blue-collar trade jobs are exploding bigly; and with that MAGA development the work hours and earnings of those who participate within the trade-production processes are showing significant gains.  Work hours continue expanding and the wage rates within the MAGA-trades are also showing the most substantive gains. (Table B-2, and Table B-3)

However, with 30 years of economic policy which diminished the blue-collar-trade value, the largest portion of the U.S. workforce shifted away from trades, and/or the production of durable goods.  As a consequence the non-trade driven (investment economy or service economy) is full of workers educated in pre-elizabethan poetry, arts and useless humanities (See Table B-1 and compare year-to-year).   The non-trade-skilled-workers are plentiful as bank tellers, retail workers, data entry, etc. and their abundance is keeping the macro-view of wage growth artificially skewed.

Wages, hours worked and benefits for those participating in the production economy (the minority number; ie blue collar) are gaining at a much higher rate than wages and hours worked by employees outside of the production economy (the majority number). In the aggregate this gives the artificial view that wages and hours worked are not expanding at the same rate as the overall economy.  This is a mistaken perspective confounding the majority of the economic punditry.   Remember, we are in the space between two economic engines: A Wall Street engine, and A Main Street engine.

The economic fuel, the MAGA policy feeding the expanding economy, is being poured into the Main Street engine; the production economy.  The majority benefit from the Trump policy shift is being felt by anyone and everyone attached to the production economy.

Those workers who are attached to the Wall Street economic are not gaining the same level of benefit; nor will they for the next two to four years.  The workers inside the production economy will continue to experience the majority of the economic and financial benefit for the foreseeable future….. we’ve got decades of diminished economic activity to make up for.

Keep in mind, at a 30,000 ft overview, all of the current MAGA investment is pouring into plants and infrastructure.  When all of those production facilities start coming on line, approximately another year or two, they start generating even more jobs toward the finished goods each plant and facility will then provide.   More workers are then pulled away from the Wall Street economy and into the Main Street economy.  See how that works?

[In that ‘on-line production phase’, the *overall* wages then begin to rise; because the production worker base is expanded.]

Right now all of the trade jobs, and transportation (truck drivers etc) attached to the trade jobs, are at capacity.  Every raw material producer, miner, logger, and/or fabrication job professional: pipe-fitter, brick-layer, mason, welder, engineer, journeyman or apprentice therein; can make buckets of money with virtually unlimited work hours and overtime for those who can work with their hands and tools.

This is the MAGA economy; knowing how to use a pair of metal snips is WAY more valuable than a degree in gender studies.  Teach a Starbucks barista how to drive a fork-lift or operate a machinist lathe and they can increase their wages exponentially.

(Via CNN) Businesses added 213,000 jobs to their payrolls in June, another strong month of gains. Employers kept hiring even as fears grew of a global trade war. The economy has added jobs every month for almost eight years, the longest streak on record.

The unemployment rate inched up to 4%, the first increase in almost a year. But even that reflected a healthy economy: It rose because more than 600,000 Americans joined the work force. The job market is so good, many people who had previously given up looking are starting again.

“It’s a good thing. There are more people coming into the labor force,” said Satyam Panday, senior economist at S&P Global Ratings. “It indicates that we have more labor market slack.”

New entrants, including blue-collar workers and teenagers, shouldn’t have much trouble finding a job. There are more openings right now than unemployed workers, leading businesses to expand hiring to historically disadvantaged groups.  (read more)

Bureau of Labor Statistics DATA here.

Total nonfarm payroll employment increased by 213,000 in June and has grown by 2.4 million over the last 12 months. Over the month, job gains occurred in professional and business services, manufacturing, and health care, while employment in retail trade declined. (See table B-1.)

Employment in professional and business services increased by 50,000 in June and has risen by 521,000 over the year.

Manufacturing added 36,000 jobs in June. Durable goods manufacturing accounted for nearly all of the increase, including job gains in fabricated metal products (+7,000), computer and electronic products (+5,000), and primary metals (+3,000). Motor vehicles and parts also added jobs over the month (+12,000), after declining by 8,000 in May. Over the past year, manufacturing has added 285,000 jobs.

Employment in health care rose by 25,000 in June and has increased by 309,000 over the year. Hospitals added 11,000 jobs over the month, and employment in ambulatory health care services continued to trend up (+14,000).

Construction employment continued to trend up in June (+13,000) and has increased by 282,000 over the year.

Mining employment continued on an upward trend in June (+5,000). The industry has added 95,000 jobs since a recent low point in October 2016, almost entirely in support activities for mining.

In June, retail trade lost 22,000 jobs, largely offsetting a gain in May (+25,000).

Employment showed little or no change over the month in other major industries, including wholesale trade, transportation and warehousing, information, financial activities, leisure and hospitality, and government.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.5 hours in June. In manufacturing, the workweek edged up by 0.1 hour to 40.9 hours, and overtime edged up by 0.1 hour to 3.5 hours. (link)

Now, let’s wait to see what Canada’s results show.   D’0h.

For more than three decades all U.S. economic policy has been elevating Wall Street and diminishing Main Street. As a result blue-collar workers have not had wage gains keeping up with inflation for over 30 years…. Then came the era of Trump.

– “Walking in a Winner Wonderland” –

More than two years ago CTH began discussing the ramifications to a new emphasis on the economy outlined as a possibility of candidate Donald Trump’s economic policy outlook. Within the overall discussion we walked through the anticipated changes possible if A.) Trump won the election, and B.) Trump began instituting Main Street economic policy ahead of Wall Street policy (the past 30+ years).

We discussed the new dimension that would occur between two economic engines (Main Street -vs- Wall Street) as three decades of policy shifted. CTH outlined statistical and measurable KPI’s that would become visible in the space between the policy shifts.

Part of those discussions focused on energy costs, product costs (we explained how inflation would be weird), and importantly, wage rates. It takes several months of policy emphasis (actual outcomes), before the labor market wage rates would grow. We anticipated seeing that impact in Q2 of 2018, which is April-June 2018.  Well:

(Via CNBC) […] The Bureau of Labor Statistics reported that April closed with 6.7 million job openings. May ended with just over 6 million people the BLS classifies as unemployed, continuing a trend this year that has seen openings eclipse the labor pool for the first time. At some point that gap will have to close. Economists expect that employers are going to have to start doing more to entice workers, likely through pay raises, training and other incentives.

“Pressure is building for employers, and both hard data and anecdotal reports indicate that wage pressures are building,” Jim Baird, chief investment officer at Plante Moran Financial Advisors, said in a note. “With the economy still humming, employers are able to justify stronger wage increases to retain or attract talent, but it’s becoming a more challenging proposition.”

Most inflation measures are at 2 percent or more now, and are likely to continue rising. Companies are reporting record profits, but could find themselves constrained by a double-short of inflation, both from wages and rising costs due to escalating trade tensions and tariffs between the U.S. and its trading partners.

“How much might rising labor costs chew into corporate profits? How much will be passed through to customers in the form of higher prices? That remains to be seen,” Baird said. “Rising labor costs will boost take home pay, but we’re also all likely to see the effect in rising prices for goods and services.”

Those are all issues the Federal Reserve will have to weigh as well.  (read more)

What’s predictably fun to watch is how leading economists and national economic influence agents continue to be perplexed as we flow through the space between these two economic engines. Deep inside this new dimension, which will last for approximately 24 months, the control agents within the Fed cannot figure out why inflation remains low, yet the economy is heating up.

They really don’t get it.

They don’t get it because they have no reference points.

The economic models of the entire last generation+ are based on the assumptions of continuing globalist economics which advances, and has advanced, the interest of Wall Street over Main Street.  They were driving a “service-driven economy” message.

The investing class economy, ie. another name for a ‘service-driven economy’, has been the only source of historic reference for approximately three decades. These talking heads convinced themselves that a “service driven economy” was the ONLY economy ever possible for the U.S. in the future.

Back in January 2017 Deutsche Bank began thinking about it, applying new models, trying to conceptualize and quantify MAGAnomics, and trying to walk out the potential ramifications.  They began talking about Trump doubling the U.S. GDP growth rate when all U.S. investment groups couldn’t yet fathom the possibility.

It’s like waking up on Christmas morning every day to see the pontificating Fed struggling to quantify analysis of their surrounding reality based on flawed assumptions. They simply have no understanding of what happens within the new dimension.

Monetary policy, Fed control over the economy, is disconnected and will stay that way for approximately another 12-14 months, until Main Street regains full operational strength –and– economic parity is achieved.

As we have continued to share, CTH believes the paycheck-to-paycheck working middle-class are going to see a considerable rise in wages and standard of living.  How high can wages rise?… that depends on the pressure; and right now the pressure is massive.  I’m not going to dismiss the possibility we could see 10 to 20% increases in year-over-year wage growth in multiple economic sectors.

Winnamins.  We’ll need lots of them…

Forget minimum wage laws, they are inconsequential conversations when measured against the reality of how quickly wages rise in a free, fair, unregulated and growing economy.

Seriously, with full measure of optimism and appreciation – and tears of thankfulness that we are alive to experience it – these are exceptional times.

Today President Donald Trump holds a MAGA rally at the Four Seasons Arena in Great Falls, Montana.  Part of the rally objective is to boost Republican Montana Auditor Matt Rosendale in November’s election for the Senate seat currently held by Democratic incumbent Senator Jon Tester.   Tester led a ridiculous smear campaign against the former White House doctor and Veterans Affairs nominee, Ronny Jackson.

Topics during the rally will likely cover: the upcoming Supreme Court nomination; the ongoing trade initiatives of the administration; the continued benefits from the tax cut and reform program; as well as other key MAGA initiatives.  Anticipated speech time 6:00pm EDT with pre-rally speakers earlier in the program.

UPDATE: Video Added

RSBN Livestream Link (live) – Fox10 Livestream Link – PBS Rally Livestream Link

Last month the White House presented a 36-page outline of the U.S. position toward trade with China (full pdf below).  White House National Trade Council and Office of Trade and Manufacturing Policy Director Peter Navarro delivers a presentation to discuss that report.  Very well worth watching:

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Report below:

https://www.scribd.com/embeds/382162398/content?start_page=1&view_mode=&access_key=key-gEdfSI4PozPzxh25Eaz0

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President Donald J Trump, First Lady Melania Trump, Vice President Mike Pence and Second Lady Karen Pence host an independence day picnic at the White House for administration officials and military families.

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Earlier today President Donald Trump tweeted a video message to celebrate the Fourth of July, our Independence Day.