Obama Hands Trump Huge Bubble Ep. 218

Published: Jan. 7, 2017, 4:49 p.m.

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\\n \\t* Yesterday we got the final jobs report of the Obama era,
\\n \\t* We got the December Non-Farm Payroll.
\\n \\t* Now technically, when we get the January number, the first Friday of February,
\\n \\t* Half of that would have been during the Obama presidency,
\\n \\t* But because we won't get the official news until the Trump presidency,
\\n \\t* I'm sure that Donald Trump is going to take the credit, or maybe have to deal with the blame,
\\n \\t* Depending on how that number ends up being received, whether it beats the consensus or misses,
\\n \\t* But this is really the final jobs number for Obama.
\\n \\t* The number came out O.K.
\\n \\t* It missed the consensus estimate, which was 175,000 jobs,
\\n \\t* And the actual number, at least until they revise it next month was 156,000
\\n \\t* So that was below what was expected.
\\n \\t* Now they did revise upward the prior month from 178,000 to 204,000
\\n \\t* And the month before that was revised down a bit
\\n \\t* So I guess, when you take all the revisions, it was probably about a push on the number.
\\n \\t* This report should have been seen as not so good,
\\n \\t* Most of what I was reading was about how strong, not only this report was,
\\n \\t* But the entire job-creation legacy of Barack Obama
\\n \\t* This is what you get from the mainstream media
\\n \\t* That peddles all the fake news
\\n \\t* About what a great economy President Obama is handing off to Donald Trump;
\\n \\t* That we have really low unemployment -
\\n \\t* The official unemployment rate kicked up from 4.6, but still 4.7,
\\n \\t* So, low unemployment, all these jobs being created,
\\n \\t* Forgetting about the fact that once again, you're talking about low-paying, part-time jobs that have been created
\\n \\t* In fact, the number of Americans not in the work force grows again;
\\n \\t* It wasn't a big jump, but it was still a jump
\\n \\t* To a new all-time record high.
\\n \\t* So labor force participation has been eviscerated during the Obama years.
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