By now most every knows that Democrats are rushing full speed ahead with impeachment in a very unfair and partisan fashion.
But what is REALLY behind the rapid push for impeachment?
Here is the real reason Democrats are rushing full speed ahead with impeachment brutally explained with a single cartoon:
“The report alleviates pressure on the Trump administration to make a trade deal with China, giving negotiators more leverage to push for a harder line,” said Daniel Zhao, a senior economist at Glassdoor in San Francisco.
The dollar strengthened against a basket of currencies, snapping a five-day losing streak. U.S. Treasury prices fell. Stocks on Wall Street rallied after a roller-coaster week.
STEADY WAGE GAINS
The U.S.-China trade spat has bruised business confidence and undercut capital expenditure, tipping manufacturing into recession. The magnitude of last month’s increase in payrolls is at odds with other labor market data.
Job openings are near a 1-1/2-year low, small business hiring intentions have softened relative to 2018 and the Institute for Supply Management survey’s measure of factory employment has contracted for four straight months.
“While this morning’s reading is a definite improvement, it does little to explain waning momentum over the past ten months,” said Lindsey Piegza, chief economist at Stifel in Chicago. “It remains to be seen if such strength signals a turning point to more robust hiring patterns.”
Though the labor market remains resilient despite the business investment downturn, hiring has slowed from last year’s average monthly gain of 223,000 because of ebbing demand and a shortage of workers. The government has said it could cut job growth for the 12 months through March 2019 by at least 500,000 jobs when it publishes its annual revision next February.
Still, job creation is well over the roughly 100,000 jobs per month needed to keep up with growth in the working-age population. The unemployment rate fell one-tenth of a percentage point to 3.5% percent, matching September’s reading, which was the lowest level since December 1969.
A broader measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they cannot find full-time employment, fell to 6.9% from 7.0% in October. The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, dipped to 63.2% in November from more than a six-year high of 63.3% in October.
Average hourly earnings rose seven cents, or 0.2%, after increasing 0.4% in October. In the 12 months through November, wages rose 3.1% after advancing 3.2% in October. Wages were held back by the concentration of hiring in low-paying industries.
Average hourly earnings for production and non-supervisory workers, considered a more reliable wage measure, increased 0.3% and were up 3.7% on a year-on-year basis in November.
“That should keep consumer spending in good shape in the coming months,” said Sarah House, a senior economist at Wells Fargo Securities in Charlotte, North Carolina.
Manufacturing employment rebounded by 54,000 jobs in November. Construction hiring rose by only 1,000 jobs, while mining shed 7,000 jobs.
The leisure and hospitality industry hired 45,000 workers. It has added 219,000 jobs over the last four months, with about two-thirds of the gains at restaurants and bars.
There were also increases in professional and business services, financial activities, and transportation and warehousing jobs last month. Government employment increased by 12,000 jobs.
Reuters contributed to this report.