It's all Obama's fault:
Job growth settled into a more sustainable pace in January and the unemployment rate dropped to an almost eight-year low of 4.9 percent, signs of a resilient labor market that’s causing wage growth to stir.
The 151,000 advance in payrolls, while less than forecast, largely reflected payback for a seasonal hiring pickup in the final two months of 2015, Labor Department figures showed Friday. The jobless rate fell to the lowest level since February 2008. Hourly earnings rose more than estimated after climbing in the year to December by the most since July 2009.
The moderation in hiring still leaves the job market on solid footing and shows companies are confident about the outlook for domestic sales. A further tightening of labor conditions that sparks wage gains would help assure Federal Reserve policy makers that inflation will reach its goal.
“This is a very encouraging report -- the fact that wages rose is very important, the unemployment rate continues to go lower, and job growth at 151,000 is still a good number,” said Kathy Bostjancic, an economist at Oxford Economics USA in New York, which is among the best forecasters of the payrolls data over the past two years, according to data compiled by Bloomberg. [snip]
Friday’s data showed a much-awaited pickup in wage growth is starting to manifest itself. Average hourly earnings rose 0.5 percent from a month earlier to $25.39. The year-over-year increase of 2.5 percent followed a 2.7 percent jump in the 12 months ended in December, which was the biggest advance since mid-2009. (our emphasis)The next time you hear one of the vicious sociopaths running for the Republican/ New Confederate/ Stupid/ Shooter's Party nomination yapping about the "economic disaster" wrought by President Kenyan Usurper Obummer, remember these facts as just one benchmark for what pathological, destructive liars they are.
And if Democrats aren't out there touting these positive results stemming from Democratic policies, they will deserve to lose.
