The Bureau of Labor Statistics gave Donald Trump more reasons to smile, with an optimistic Job Openings and Labor Turnover Summary report for April.
The number of job openings was little changed at 7.4 million in April, the U.S. Bureau of Labor Statistics reported today. Over the month, both hires and total separations were little changed at 5.6 million and 5.3 million, respectively. Within separations, quits (3.2 million) and layoffs and discharges (1.8 million) changed little.
While the BLS employed its usual anodyne “little changed” vernacular, the numbers themselves are definitely moving in the right direction.
Although we can still safely ignore the fictitious “job openings” number, the total number of non farm hires moved up in April.
More significant is the increase in net hiring.
Manufacturing hiring slowed, but still notched a second month of growth, a welcome change after an extended period in recent years of manufacturing job losses.
Job growth is essential for all scenarios where President Trump makes good on his Agenda 47 promises. This country still many more jobs to restore the economy to rude health and finally escape the extended jobs recession America has endured.
Still, the April JOLTS data indicates the economy is moving in a good direction on jobs.
Love it! Thanks for hard data, Peter. You are an oasis of facts in a desert of propaganda.
The corporate media is continually trying to spin every bit of good economic news in an anti-Trump manner. My local newspaper yesterday actually tried to spin the idea of no taxes on tips as being a cruel thing! Their feeble claim was that this “might” cause customers to tip less, because people will resent that these tips will no longer be taxed. As if we are all so petty that we resent a waitress making an extra fifty cents off of us! FEEBLE.
A bit off-topic, but it might pertain to jobs: there is economic chatter now that the Japanese bond crisis will affect the carry trade which, when combined with unrealized losses on bank balance sheets (commercial real estate, etc.), will cause a huge crisis. I’m always trying to separate fact from sensationalism, and you’re the most level-headed analyst on Substack, Peter. If this is a topic you’d like to dive into sometime, I’m interested!