American Greatness Financial experts commenting on the U.S. economy Friday expressed shock and awe at the president’s spectacular jobs numbers, and one expressed dismay that most of the media will ignore the positive economic news.
The Labor Department released numbers showing that nonfarm payrolls surged by 266,000 and the unemployment rate fell to 3.5 percent, easily beating the Wall Street consensus, CNBC reported.
Economists surveyed by Dow Jones had been looking for solid job growth of 187,000 and saw the unemployment rate holding steady from October’s 3.6%. The decline in November’s jobless rate came amid a corresponding 0.1 percentage point drop in the labor force participation rate, to 63.2%.
Stocks opened sharply higher in reaction to the better-than-expected report. Bond yields also surged.
Economists surveyed by Dow Jones had been looking for solid job growth of 187,000 and saw the unemployment rate holding steady from October’s 3.6%. The decline in November’s jobless rate came amid a corresponding 0.1 percentage point drop in the labor force participation rate, to 63.2%.Stocks opened sharply higher in reaction to the better-than-expected report. Bond yields also surged.
CNBC’s Jim Cramer said, “these are the best numbers of our lives!”
National Economic Council Director Larry Kudlow said on Fox Business that as great as the numbers are right now, “it’s not over.”
And Fox News’ Maria Bartiromo gushed, “it’s a blowout!”