Opinion: Booming Job Numbers Restore Faith In Economy - InsuranceNewsNet

Celebrating 20 years of being the industry’s number one news source!

InsuranceNewsNet

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Washington Wire
Topics
  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property & Casualty
  • Advisor News
  • Washington Wire
  • Sponsored Content
  • INN Exclusives
  • Newswires
  • INNsider
  • INN Exclusives
  • NewsWires
  • Magazine
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • ★ Regulation News
  • Magazine
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Susbcribe

Get Social

  • Facebook
  • Twitter
  • LinkedIn
  • Google+
Insider
Washington Wire
Washington Wire RSS Get our newsletter
Order Prints Share
July 8, 2019 Washington Wire No comments Views: 18

Opinion: Booming Job Numbers Restore Faith In Economy

Richmond Times-Dispatch (VA)

JUNE JOB GROWTH

On Friday, the U.S. Labor Department released its employment numbers for June. The U.S. economy added 224,000 positions last month, far surpassing the 162,000 projected. The number was a vast improvement over the 72,000 jobs added in May.

Average hourly wages grew 3.1% in the past year. And while the unemployment rate crept up from 3.6% to 3.7%, in this instance, that's good news. The rate ticked up because more Americans have either gone back to work or are now actively looking for a job.

The numbers are especially remarkable in light of a weakening global economy and fears of a trade war with China. The strong showing has eased worries about a weakening economy.

Gus Faucher, chief economist at PNC Financial Services, told The Washington Post, "Recession concerns are overblown. There's no indication the labor market is in trouble or the broader U.S. economy."

Stocks opened lower on Friday as the strong numbers threatened to derail hopes of the Federal Reserve cutting interest rates. Speaking Friday morning, President Trump called the job numbers "really unexpectedly good." He told reporters that if the Fed were to cut rates, the U.S. would take off "like a rocket ship."

Whatever the Fed decides to do, the economy ' and the numbers and trends driving it ' should not be ignored. As we enter this politically charged election season, the onus will be on Democrats to convince Americans to vote on issues rather than their wallets.

Love him or hate him, if the economy remains strong, 2020 will be Trump's to lose.

' Robin Beres

Getty Images

Getty Images

Newer

Federal Register Extracts

Advisor News

  • Smaller Stocks Gain On Bigger Players As 2019 Closes
  • PA Dumps Dozens Of Hedge Funds In Cost-Cutting Move
  • Fed Leaves Low Rates Alone And Foresees No Moves In 2020
  • Buttigieg Retirement Plan ‘Impressive,’ But How Will He Pay For It?
  • Americans Say They’ll Be Better Off Financially In 2020: Fidelity Survey
More Advisor News

Annuity News

  • Annuity Sales Down 8.4% In 3Q; Up 7.5% Year-To-Date: Report
  • Wink Unveils Beefed Up AnnuitySpecs Tool
  • Plaintiffs Abandon Lawsuit Targeting Security Benefit Proprietary Index
  • NAIC Regulators Move Annuity Sales Model Forward
  • Robert Kerzner Joins PHP Agency’s Board Of Directors
More Annuity News

Health/Employee Benefits

  • HealthyWomen/WebMD Study: Women Don’t Discuss Health Concerns
  • Uninsured Rate For Texas’ Youngest Children Jumps, Report Says
  • Allianz Finds Americans Ready To Prioritize Health Over Finances In 2020
  • Insurers Argue Case For ACA Reimbursement To Supreme Court
  • StayWell Shares Top 5 Employer Wellness Trends For 2020
More Health/Employee Benefits

Life Insurance

  • New York Life Is Going To The Super Bowl
  • Ladder To Launch In New York Via Relationship With Allianz Life
  • Sproutt Launches; Uses Data To Reward Healthy Life Insurance Customers
  • Caregiver Took Out Life Insurance On Florida Man, Then Killed Him, Police Allege
  • Nationwide Named Official Insurance Partner Of Minor League Baseball
More Life Insurance

Featured Offers

Text Ads

Press ReleasesAll press releases

  • Symetra Awarded ISO 27001 Certification for Cybersecurity
  • Equisoft Partners with Refinitiv to Deliver a Powerful Solution for Wealth Managers
  • Life Health Insurance, Investment and Retirement Planning Powerhouse AmeriLife® Expands its Platform of Advanced Life Insurance Services with Acquisition of Agent Support Group
  • Brookstone Capital Management Expands Darryl Ronconi’s Role, Naming Him President and Chief Operating Officer
  • WoodmenLife Launches Unified Selling Experience for Agents with iPipeline
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty News
  • Advisor News
  • Washington Wire
  • Regulation

Top Sections

  • INN Exclusives
  • INN Insider

Our Company

  • About
  • Editorial Staff
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter Google+
© 2019 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • Sitemap
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.