The September jobs report came out today. Unemployment fell another .5%, to 7.9%. The economy added 661,000 jobs, while the July and August jobs numbers were revised upward by a combined 145,000. The 661,000 is not a blockbuster number, but it signals that the rapid rebound from the shutdown-caused collapse that began in the Spring continues. Particularly noteworthy, I think, is that private sector employment increased by 877,000 in September, while public sector employment fell by 216,000.
Under normal circumstances, President Trump would be cruising to an easy re-election based on his strong performance over the last four years. Peace and prosperity have always made for a winning platform, and if a Democratic president had presided over the strongest economy in our country’s history, along with a sharp rebound from an externally-imposed downturn, while avoiding foreign wars and being nominated for a Nobel Peace Prize, his coverage would be fawning.
But as we all know, there is nothing normal about the political environment in which we are operating.