(NationalSentinel) Oh, the establishment media tried its best to temper the latest job growthÂ figures or, at a minimum, attribute as much of it as they could to former President Obama, but they fell short.
The unemployment rate ticked up a bit to 4.8%. More Americans started looking for work again — a good sign — which explains the small increase in unemployment.
It’s the first jobs report to be released under the Trump administration. However, the Labor Department conducted its jobs survey in the second week of January, when President Obama was in office.Â
The report represents the economy that Trump is now taking over.
The report made sure to mention that Trump - a billionaire businessman who knows more about ‘the economy’ than any economic reporter - has called government employment figures a “hoax”; so, too, has his picks for Labor and Treasury.
That’s becauseÂ they are. As explained by Gallup chairman and CEO Jim Clifton, author of “The Coming Jobs War”:
Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.
None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job — if you are so hopelessly out of work that you’ve stopped looking over the past four weeks — the Department of Labor doesn’t count you as unemployed.Â
There’s another reason why the official rate is misleading. Say you’re an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 — maybe someone pays you to mow their lawn — you’re not officially counted as unemployed…
All of this said, there has been a groundswell of support from business and industry for Trump’s plans to take a chain saw to federal rules and regulations, as well as bust the top corporate tax rate from a world-high 35 percent to something more in line with 15 percent, a change that would add tens of billions of dollars to companies’ bottom lines each year and help finance significantÂ domestic expansion and job growth.
Indeed, the president has already begun the process. On his fourth full day in office he signed an executive orderÂ “Streamlining Permitting and Reducing Regulatory Burdens for Domestic Manufacturing,” which called for “executive departments and agencies (agencies) to support the expansion of manufacturing in the United States through expedited reviews of and approvals for proposals to construct or expand manufacturing facilities and through reductions in regulatory burdens affecting domestic manufacturing.”
Days later he signed another actionÂ “reducing regulation and controlling regulatory costs,” which called for a 2-to-1 reduction to implementation ratio for new regulations: For every new rule, two existing rules have to be eliminated.
Markets - and employers - are responding,Â in terms of more and better jobs. That’s Trump, not Obama.