After more than 8 years of lackluster economic growth and job creation, the US economy seems to be righting itself and, though it will take some more time to see how things unfold, hopefully we are beginning a long surge under President Trump.
From the Wall Street Journal:
The pace of hiring picked up again in April and the unemployment rate fell to the lowest level in nearly a decade, evidence the U.S. economy is poised for a spring rebound after a lackluster start to the year.
Nonfarm payrolls rose by a seasonally adjusted 211,000 in April from the prior month, the Labor Department said Friday. The unemployment rate for April edged down to 4.4% from the prior month’s 4.5% reading.
The unemployment rate hasn’t been this low since May 2007 and that matched the lowest rate of any point during the prior expansion.
The 211,000 jobs is a significant increase over the 98,000 added in March and ahead of what many economists had predicted for April.
As reported by CNSNews.com, the “number of employed Americans set a third straight monthly record in April, increasing by 156,000 to 153,156,000; and the nation’s unemployment rate dropped a tenth of a point to 4.4 percent.”
The Dow is near 21,000 and the Nasdaq is over 6,000. These are very positive developments that have nothing to do with policies under the previous regime, a time when the business community was downright afraid, thus economic growth remained below 3 percent in every single year of the Obama presidency.
But now those previously denigrated entrepreneurs, who actually create jobs, feel much better, and safer, with a business-friendly President in the White House, rather than one who seemed always out to get them.
Despite the grumbling by some on the right over some of Trump’s actions thus far, complaints that are certainly genuine and understandable, we can take solace in one irrefutable fact, that our economy is in much better hands, especially now that Trump is talking about real tax and regulatory reform. In the absence of an unforeseen calamity, our future looks bright.