Let’s commemorate this Labor Day by celebrating all the folks who went back to work this month!
Fantastic economic news to acknowledge while we enjoy this long holiday week-end. Here’s hoping you have a lot of safe social distanced fun with friends and family this weekend! Here’s the great news:
– Earlier this week, we learned that manufacturing activity surged to its highest level in 16 years.
– This week we learned that weekly jobless claims fell to 881,000 versus expectations of 950,00
– And this morning the Labor Department announced that 1.37 million new jobs were created last month. All demographics benefited. The unemployment rate fell from 10.2% to 8.4% — a tremendous decline that far surpassed the experts’ predictions of 9.8%.
It is important to note that this economic growth is happening in spite of the fact that several huge states like California and New York are still largely shut down. Way to go Laborers!
It’s a good life.