US Jobs Report Indicate The Economy Is Not Good
The US Labor Department monthly employment report Friday will tell us about the health of the economy, feels like Not Good.
Forecasters expect the monthly new jobs numbers to come in at about 190,000, well below last year’s pace and if the come in below that target would indicate the economy is at high risk of another recession.
Since the Hussein Obama recovery began, the economy has expanded at a paltry 2.2% annual pace, and factoring in recessions the overall rate of economic growth has been only 1.8% Century to date.
In recent years new jobs have been created at about 50% of the pace of the Reagan years.
During the Reagan-Clinton era, when more aggressive growth policies and deregulation were in the vogue, the economy grew at a 3.4% annual pace.
Family incomes rose an average of $9,250, whereas during the George W. Bush-Barack Hussein Obama era, those have fallen about $4000.
Consumers are spending but the strong Buck is pinning down exports and cheap imports are hammering US manufacturers.
Businesses are increasingly skeptical about expanding in the United States, and giants like Ford (NYSE:F) and Carrier are moving facilities to more business friendly Mexico.
Troubles in China is not all to blame.
In the recent Bush (43) and Hussein Obama (44) administrations can be blamed for not taking the kind of tough measures against Chinese protectionism advocated by Donald Trump and Paul Krugman.
Dodd-Frank has hobbled community banks with mindless regulations when they had little to do with the financial collapse.
They cannot lend to local enterprises as they once did, and small businesses are closing more rapidly than they are opening. .
Hillary Clinton promises to get tough with China, but her obsession with “breaking down barriers” is a focus on battles long ago won.
Democrats have been misrepresenting the wage gap between men and women and are indignant about discrimination to cynically harvest female votes.
It is hard to find a business in America that believes discriminating against women or Blacks would attract more customers or make them more efficient and profitable, that except the Democrats.
On trade her proposed methods are vague and sound much like a continuation of Mr. Obama’s failed tactics.
Mrs Clinton’s record as Secretary of State suggests the opposite.
The US-Korea Free Trade Agreement, implemented on her watch, has added $16-B to the trade deficit and killed 130,000 jobs.
Mr. Hussein Obama promised to get tough with China on a host of issues but failed to take any real actions once in the Oval Office.
Local governments have imposed employment licensing and land use regulations that push up apartment rents, and both make worker relocation and jobs creation much more difficult to accomplish.
We have heard a lot from Donald Trump about his views on getting tough on trade and immigration but not much about pulling out and burning the roots of federal and state bureaucratic fiefdoms that are rapidly turning America into New France.
The US market stock indexes finished Thursday at: DJIA +44.58 at 16843.15, NAS Comp +4.00 at 4707.37, S&P 500 +6.95 at 1993.29
Volume: trade was heavy with more than 1.2-B/shares exchanged on the NYSE
- NAS Comp -6.0% YTD
- Russell 2000 -5.3% YTD
- DJIA -2.8% YTD
- S&P 500 -2.5% YTD
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