'Blowout Numbers' Reach Black Unemployment Reaches Record Low, Christmas Forecasts

The Bureau of Labor Statistics (BLS) on Friday released its monthly employment report (pdf), which showed continued employment growth and near record unemployment in October. The employment gains among African American women and Latinos were particularly impressive.

Unemployment for African Americans reached a record low of 5.4 percent – a fall of 2.6 percent since President Trump took office.

The unemployment rate for black women reached only 4.4 percent, a decrease of 0.8 percent since July. However, unemployment for black men increased slightly from 5.8 to 5.9 per cent, staying close to the historical low from last month.

The White House pointed out that total non-farm payroll increased by 128,000 jobs last month, far exceeding market expectations of around 75,000. In an interview with Fox News, however, economist and director of the US National Economic Council Larry Kudlow described the gains as a "blowout number." He said that when the figures were corrected to include an upgrade of 95,000 jobs for August. and September, a 60,000 drop in unemployment due to the recent dissolution of the GM strikes, and including 20,000 temporary workers who quit their U.S. Census work, were the real number of jobs created in the region of 303,000. [19659002] Wow, a blowout JOBS number just out, adjusted for revisions and the General Motors strike, 303,000. This is far greater than expected. USA ROCKS!

– Donald J. Trump (@realDonaldTrump) November 1, 2019

According to the White House, "Since the 2016 presidential election, the economy has added over 6.7 million jobs – more than the combined stocks of Wyoming, Vermont, Alaska, North Dakota, South Dakota, Delaware, Rhode Island and Montana in 2018. In addition, this is a total of 4.8 million more jobs than the Congressional Budget Office estimated would have been created in the final forecast before Election 2016. "

While some commentators pointed out that manufacturing jobs failed to improve in October, the 40-day strike at GM, involving some 46,000 GM workers, certainly played in. According to the White House press release, over 500,000 jobs have been added this administration.

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