For the past 6 months, Democrats have consistently tried talking down the economy, suggesting that we were heading for a slowdown, if not a full recession. The economy just won’t cooperate with the Democrats. This morning, the Bureau of Labor Statistics, aka the BLS, announced that the US economy created 263,000 jobs in April. Further, “Nonfarm payrolls increased a seasonally adjusted 263,000 in April, the Labor Department said Friday. The unemployment rate fell to 3.6% last month, the lowest level since December 1969. Average hourly wages for private-sector workers grew 3.2% from a year earlier, matching the prior month’s increase.”
Welcome to Speaker Pelosi’s ‘Soup line America’. This morning, she released this statement. In the statement, she said “The April jobs report numbers show some promising news, yet these gains hide the true weight of the economic uncertainty felt by millions of hard-working Americans. Unfortunately, the evidence shows that most of the economic gains continue to benefit those already well-off. We must do more to ensure that the economy is benefiting every family in every community, and that all Americans have the opportunity to move ahead in our economy.”
First, what the hell is she babbling about? Is she intentionally misleading the American people? Compare Pelosi’s negativity with Larry Kudlow’s optimism:
Let’s be clear about something. The strongest job growth, according to Mr. Kudlow, is “has come from the blue collar sector.” Democrats have been attempting to paint a gloomy picture on the economy. That tactic is failing. You things are good when President Trump is getting help from this NYTimes article:
Which workers are benefiting?
The recent gains are going to those who need it most. Over the past year, low-wage workers have experienced the fastest pay increases, a shift from earlier in the recovery, when wage growth was concentrated at the top.
Check out the Times’ graphic, too. In Stuart Varney’s interview of Larry Kudlow, Mr. Kudlow repeatedly kept referring to the economy being in the “sweet spot.”
PS- Check out John Hinderaker’s post on the economy. It’s both pithy and powerful.