The new jobs report is out, and it looks like workers are winning … bigly.
Unemployment is now at a 50-year low. Black and Latino unemployment numbers have reached all-time lows. The employment rise was okay, a little lower than expected, but to be fair it’s really hard to add a huge number of new jobs when unemployment is this low. And wage increases are beating inflation—so that’s jobs and raises.
The left told us that tax cuts would be great for big business and bad for the workers. The truth is almost the opposite. Business profits are struggling a little, but labor markets have done extremely well.
Yes, there’s are some cautionary signs: We can see some storm clouds on the horizon. In order to keep this going, the president and his team are going to have to resolve this trade war and quickly.
But the good news for today: More of us now have work.Read More »