The following breakdown is from Charles Payne financial advisor.
We got a strong jobs report Friday that confirmed the rebound in jobs in key areas that will move wages higher and have a greater socioeconomic impact.
- 235,000 Jobs
- 4.7% Unemployment Rate
- 300,000 returned to Labor force
This figure is significant because the Obama presidency was characterized by people leaving the workforce in droves. By the time he left office over 90 million people were no longer in the work force.
- 63.0 Participation Rate
- +0.2% Wages month to month
- +2.8% Wages year to year
Blue collar work is coming back:
This is significant because the majority of the jobs in the Obama years were in the lower paying service industry. The following are the ones that most benefit workers in particular and the country as a whole.
- Mining +7,700
- Construction +58,000
- Manufacturing +28,000
In summary, Payne said, “Consider that from January 2016 to October 2016 investors pulled $117.2 billion from equity funds, of which $109.5 billion came from domestic funds (money earmarked to be invested in shares of American businesses).
That all changed in November when $23.0 billion poured into equity funds, of which $21.4 billion was committed to domestic funds. Since November 2016 through March 1, 2017, $114.7 billion has flowed into equity funds, of which $76.8 billion has gone into domestic funds. This is very important considering in the past, Americans eschewed domestic stocks for foreign investments.