Democrats have attempted to make POTUS Donald Trump “own” last month’s historic government shutdown despite the fact that their House leader, Speaker Nancy Pelosi of California, made it a point to prolong it by refusing to negotiate for the president’s border wall.
What’s more, the Donkey Party’s dire predictions of economic doom and gloom didn’t pan out, either. Not only did the U.S. economy create some 304,000 new jobs last month, as Breitbart News reports, the Dow Jones Industrial Average hit a new record as well, marking the umpteenth time Wall Street has made such gains under this president.
The Dow gained 7.2 percent in January, marking the best month for the index in three decades, reversing the bruising performance in December.
The DJIAÂ ended the month at 24,999.67, a 0.1 per cent dip for the session, but up 7.2 percent for all of January.
Meanwhile, the broad-based S&P 500 closed at 2,704.10, or up 0.9 per cent for the session and 7.9 percent for the month.
That’s not all. The tech-heavyÂ Nasdaq Composite did even better, closing out January with gains of 9.7 percent, includingÂ banner results from Facebook that raised the social media giant 10.8 percent.
None of this was merely by chance. Stocks began performing noticably better after POTUS Trump noted late in the session that his administration was making “tremendous” progress in U.S.-China trade talks.
This week, U.S. and Chinese negotiators wrapped up two days’ worth of intense talks in Washington, D.C., with Vice Premier Liu He inviting the president to new face-to-face meetings with Chinese President Xi Jinping.
Agence France Presse noted that, in a letter from Xi Jinping to POTUS that was read out by the Chinese delegation, the Chinese leader said relations were at a â€œcriticalâ€ stage and that he hoped â€œour two sides will continue to work with mutual respect.â€
On the jobs front, despite the dramatic job creation, unemployment ticked up to 4.0 percent. Still, economistsÂ had expected just 158,000 nonfarm payroll growth and the unemployment rate to hold steady at 3.9 percent.
Breitbart noted further:
JobÂ creation has been a particularly strong suit for the economy. Last year saw more job creation than the previous two years, with 2.6 million new jobs over the course of the year compared with 2.2 million in 2017 and 2.3 million in 2016.For the full year of 2018, the average monthly gain was 223,000. Since President Trump was elected in November 2016, the U.S. economy has created over 5 million jobs.
The 4.0 unemployment rate, still low by historical standards, is also expected to decline in the coming months.
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