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The Trump Economy – Jobs

The US Payrolls report was announced today, and the Trump Economy is now creating jobs, smashing all estimates. The February job creation, estimated at 175,000, was much lower than the powerful 273,000 actual. Not only was the month of February strong, but December and January were both revised upward from 147,000 to 184,000 and 225,000 to 275,000 respectively. In short, the Trump Economy is creating jobs for all and more importantly, seeing wages increase. So in the past three months, the US economy has created over 700,000 jobs, a great number but a word of caution. Keep in mind that this number was driven higher by the China trade deal and does not reflect the current market – nor the market expected 8 weeks from now when the coronavirus is priced in. The job creation model is strong but note that in the coming 3 to 4 months, job creation will likely fade, just before the US election. Still, the recent 50 bp rate cut might have some positive impact, but not enough to offset this virus disruption of markets.

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