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b'A Nonfarm Payroll Beat
\\nToday the labor department released the November jobs report -\\xa0 Nonfarm Payroll -\\xa0 of course Wall Street always highly anticipates this number; all the politicians, Donald Trump was ready to tweet as soon as the data was released.\\xa0 The expectation was for 190,000 jobs and we beat, with 228,000 jobs.
\\nAn Even Bigger Hoax
\\nThe unemployment rate held steady at 4.1%, which prompted President Trump to tweet, "The unemployment rate remains at a 17-year low of 4.1%. Now remember, when Trump is running for office he called 5% unemployment "The biggest hoax in American history", claiming that the rate was really 30, 40, 50%.\\xa0 Well if 5% was the biggest hoax in American history, what\'s 4.1?%? It\'s an even bigger hoax.
\\nDisappointing Numbers
\\nSo THIS is the biggest hoax in American history, except that the difference is now Trump is the purveyor of that hoax.\\xa0 He is no longer calling it out, he is now participating in the same hoax that he criticized in order to get elected.\\xa0 The numbers that missed were the average hourly earnings, which, again, everybody keeps talking about how earnings are going to go up; they were looking for a .3% increase in average hourly earnings following flat earnings the previous month.\\xa0 Not only did they not get .3%, they got +.2%, but they revised last month\'s 0% to -.1%. So really, very disappointing numbers on the wages.
\\nLabor Force Participation
\\nLabor Force Participation rate held steady at 62.7%; that\'s near the lowest it has been in this cycle.\\xa0 And again, if you look at where the jobs were, we did manage to create 31,000 manufacturing jobs.\\xa0 We have had a boost in manufacturing jobs, despite the fact that we are not seeing it in the trade balance, because we have the worst trade deficit in five years, so I don\'t really know what everybody\'s manufacturing, if we\'re not exporting it, or if it is not reducing our imports.
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