Gary Cohn says the White House is 'very excited' about the dismal jobs report that showed the US eco

[highplainsdem]

Source: Business Insider

Gary Cohn says the White House is 'very excited' about the dismal jobs report that showed the US economy lost jobs


Gary Cohn, the National Economic Council director and top economic adviser to President Donald Trump, on Friday said the White House was "excited" with the latest jobs report, which showed that the US economy unexpectedly lost 33,000 jobs during September.

-snip-

"You're looking through the numbers and you're looking at the wage growth and you're looking at the unemployment number — which is the real good news here," Cohn said.

Average hourly earnings grew 2.9% year-over-year in the month, tied for the highest rate since the recession but still lower than the prerecession average. The unemployment rate also dropped to 4.2%, its lowest since February 2001. These numbers may have also been affected by the hurricanes. The acting BLS commissioner, William J. Wiatrowski, said in a statement that the higher wage number "reflects both ongoing labor market trends and possible effects of the hurricanes."

-snip-

Cohn said that to continue these positive trends in the labor market it was necessary for the government to pass Trump's massive tax package.

-snip-

Read more: http://www.businessinsider.com/gary-cohn-trump-white-house-excited-about-september-jobs-report-2017-10

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So they ignore the unfavorable numbers that could be due to the hurricanes, but hype favorable changes that the BLS admits could have been helped by the hurricanes.

And no matter what might change, they have to have huge tax cuts for the rich.

[Lindsay]

1. Tax cuts for the rich

is a deeply held religious belief which may not be questioned because religious freedom.

[George II]

2. Sure, "average hourly wage" went up slightly, but....

....that can be easily explained.

More than likely many of the 33,000 who lost their jobs were low paid workers, as in the (fast) "food service industry".

Let's look at it this way, you have 20 people getting $20 an hour and 20 people getting $10 an hour. That's an overall average of $15 an hour. But if 3 of those $10 workers lost their jobs and only 1 $20 worker lost his job, that results in an overall average wage of $15.27 - BOOM, the average hourly wage goes UP!

That's how they get giddy about thousands of people losing their jobs.

[ananda]

3. The Obama jobs honeymoon is about to run out.

45 is still trying to take credit for it, but with a "storm" coming,
and with the republican budget/tax bill looming, the economy
is actually in deep trouble.

[procon]

4. Up is down, black is white, lies are truth. I got it. nt

[Angry Dragon]

7. Winning Through Lying

[NewJeffCT]

5. when Obama was president

even good job numbers and lower unemployment were explained away by Fox News and their ilk as people taking menial jobs and people giving up/dropping out of the job market (long-term unemployed)

[Gamecock Lefty]

6. Exactly, NewJeffCT!

And when unemployment #s started dropping under Obama – first under 10, then 9.5, then 9 and on down, conservatives kept talking about REAL unemployment #s - remember? “Yea, but what’s the REAL unemployment rate?” They talked non-stop about people giving up looking for jobs which helped the unemployment #s. They even, rather laughable, talked about unemployment #s for minority youth - as if they give a crap about minorities.

Since Popular Vote Loser has been in office, where’s all that REAL unemployment talk???

Gosh, but I hate them all!!!

[lancelyons]

8. How do you lose 33000 jobs and the unemployment rate goes from 4.4 to 4.2?

How do you lose 33000 jobs and the unemployment rate goes from 4.4 to 4.2?

I dont get that.

[Bradical79]

10. People leaving the workforce entirely? -nt

[BumRushDaShow]

9. The Obama 75 month (total 84 month) straight growth streak is now over. nt