Obama Hands Trump Huge Bubble – Ep. 218

* Yesterday we got the final jobs report of the Obama era,
* We got the December Non-Farm Payroll.
* Now technically, when we get the January number, the first Friday of February,
* Half of that would have been during the Obama presidency,
* But because we won't get the official news until the Trump presidency,
* I'm sure that Donald Trump is going to take the credit, or maybe have to deal with the blame,
* Depending on how that number ends up being received, whether it beats the consensus or misses,
* But this is really the final jobs number for Obama.
* The number came out O.K.
* It missed the consensus estimate, which was 175,000 jobs,
* And the actual number, at least until they revise it next month was 156,000
* So that was below what was expected.
* Now they did revise upward the prior month from 178,000 to 204,000
* And the month before that was revised down a bit
* So I guess, when you take all the revisions, it was probably about a push on the number.
* This report should have been seen as not so good,
* Most of what I was reading was about how strong, not only this report was,
* But the entire job-creation legacy of Barack Obama
* This is what you get from the mainstream media
* That peddles all the fake news
* About what a great economy President Obama is handing off to Donald Trump;
* That we have really low unemployment -
* The official unemployment rate kicked up from 4.6, but still 4.7,
* So, low unemployment, all these jobs being created,
* Forgetting about the fact that once again, you're talking about low-paying, part-time jobs that have been created
* In fact, the number of Americans not in the work force grows again;
* It wasn't a big jump, but it was still a jump
* To a new all-time record high.
* So labor force participation has been eviscerated during the Obama years.


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