*The government reported that wages grew 2.9% last month. That is the sharpest advance since 2009 when the country was coming out of a deep recession.*
*In addition, employment continues to improve as people leave part time jobs and take full time jobs. The graphic shows total employment gains in the past year. But, part of that is 200,000 jobs in the manufacturing sector, just as the President promised on the campaign.*
This graphic doesn’t show that unemployment in the black and Hispanic communities are down to their lowest levels in decades.
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.
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.
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.