The stock market is surging today after the news that in December, over 312,000 jobs were added to the workforce. This exceeded the Labor Department’s expectations of 182,000 jobs.
From The Hill:
Stocks opened with major gains after the Labor Department reported a gain of 312,000 jobs in December, while the unemployment expanded to 3.9 percent as the labor force expanded by 419,000 workers.
Analysts had expected the economy to add 182,000 jobs to end 2018. The significant overshoot gave a boost to traders after weeks of dismal headlines from the U.S. and abroad. The strong jobs report came after data released this week showed a global industrial slowdown, and Apple slashed its earnings forecast, citing plunging demand.
The President responded to the news by tweeting, “GREAT JOBS NUMBERS JUST ANNOUNCED!”
GREAT JOBS NUMBERS JUST ANNOUNCED!
— Donald J. Trump (@realDonaldTrump) January 4, 2019
Some responded that the President’s tweet was insensitive to the federal workers who are not getting paid because of the government shut down over the boarder wall.
“Hey, Federal Workers, cheer up! ‘Great jobs numbers just announced!’” 😣https://t.co/ZpQpyhyMBB
— Richard Feinberg (@RichFeinberg1) January 4, 2019
How about out government workers? I can’t believe you’re still the president!
— Mary (@marykissgirl66) January 4, 2019
Great numbers but the whole truth needs to be told. A majority of the "new" jobs reported are part time jobs at minimum wage with no benefits.
— Tomj98 (@Tomj981) January 4, 2019