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President Donald Trump has every reason to kick back with a Big Mac and some Cristal this July 4th holiday weekend and toast the economic sweet spot he finds himself in right now.
The president’s ongoing trade war with China hasn’t hammered the U.S. labor market (see the out of the blue strong June jobs report). Stock prices are hovering near record highs. And Wall Street still expects the Federal Reserve to cut interest rates at its next meeting (despite that strong jobs report) to juice the economy after a first quarter soft patch.
Moment - Commander-in-Chief - Democrats
Can it get any better at the moment for the Commander-in-Chief (and any worse for the Democrats trying to unseat him)? Probably not.
The U.S. economy added 224,000 non-farm payrolls during June, according to the U.S. Bureau of Labor Statistics. Consensus estimates were for 160,000 positions added during the month, according to economists surveyed by Bloomberg.
Unemployment - Rate - % - Economists - Unemployment
The unemployment rate ticked up to 3.7%. Economists were anticipating that the unemployment rate would hold steady at 3.6%, near five-decade lows. Meanwhile, average-hourly earnings rose 0.2% from May and 3.1% year-over-year.
Sectors with the most notable job gains in June included the professional and business services, health care and transportation and warehousing sectors. Manufacturing...
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