More jobs, excellent wage growth

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President Trump’s excellent week continues. Tuesday, he delivered a positive, uplifting SOTU Address. Wednesday, President Trump was acquitted of the Democrats’ anti-constitutional impeachment charges. Thursday, he held a victory celebration with a couple hundred of his closest friends in the East Room of the White House.

Today’s January jobs report came up roses, too. CNBC reports that 225,000 jobs were created last month, much better than the expected 158,000. The unemployment rate rose to 3.6% but, according to the article, “for the right reason as the labor force participation rate increased 0.2 percentage points to 63.4%.”

There’s more good news:

There was more good news for workers: Average hourly earnings rose 3.1% over a year ago to $28.44, ahead of estimates for 3% growth. That marked 18 consecutive months of wage gains above 3%, as the initially reported 2.9% for December was revised up to 3%.

The Democrats’ myth that this economy isn’t working for everyone is getting difficult to say with a straight face. That said, there are some things worth monitoring:

The unemployment rate for African Americans rose one-tenth of a percentage point to 6%, while the rate for Asians leaped from 2.5% to 3% and the Hispanic level edged higher to 4.3%.

That’s hardly a trend but it’s worth monitoring.