Trump’s Economy Crushed Expectations Month Before Midterm Nightmare

The month before the midterm elections that focused heavily on affordability, the jobs market was roaring, with U.S. employers adding 165,000 jobs in October, data released Friday by the Bureau of Labor Statistics shows. 

The figure blew past expectations that had set the number at a gain of 59,000 jobs. The unemployment rate dropped down to 4.1% after economists predicted 4.2%. 

The new report also revised September and August jobs numbers, adding more jobs to both months, which led to a combined job gain of 84,000. October Job gains were led by professional and business services, healthcare, transportation and warehousing, and manufacturing. 

The report comes after Democrats focused primarily on the economy and cruised to overwhelming victories across the country during midterm elections. In the blue wave, numerous socialists were elected to Congress due in large part to their gripes against Trump’s economy, an economy that Friday’s data suggests is kicking into high gear.

The October job gains were largely from the private sector with federal employment at its lowest level since 1966. Since taking office, Trump has made reducing the federal workforce and payroll a top priority for his administration to help reduce the burden on taxpayers. 

In June, the Trump administration reclassified about 8,000 senior federal positions to make it easier to fire employees for poor performance, misconduct, corruption, or obstructing presidential directives. 

The White House said that lengthy dismissal and appeals procedures shielded employees from accountability and prevented elected leaders from carrying out the policies voters supported.

On the campaign trail in October, Trump said he hated cutting the government jobs but had to do it to “make America great again.”

“We’ve cut way over a million federal jobs. So our numbers are good and all — we’ve cut over a million jobs, and I hate to do that.” He added, “We had 10 people wrapped around a chore that was supposed to be the work for one. So we’ve cut, essentially, more than a million, much more than a million people off the payroll.”

The Biden administration added 130,000 jobs to the federal workforce.

The latest jobs report showed big private sector gains. Professional and business services added 70,000 jobs, which was well above their average monthly gain for the year at 15,000. Healthcare also had a better month than normal, adding 42,000 jobs, while the transportation and warehousing industry added 25,000. Manufacturing jobs continued to rise, adding 19,000 jobs, signaling more consistent strength in the industry.

Since last December, manufacturing jobs are up 101,000. Wages also had a slight increase. Average hourly earnings rose by 0.4% in October to $38. Over the past 12 months, wages are up 3.1%. 

Kevin Hassett, director of the National Economic Council, called the report one of the best he’s “ever seen” in an interview on Friday.

“We have a jobs report that was way more than double the expectation, and the upward revisions were ginormous. … What we’ve got is a job market that’s hitting on all cylinders,” he said.

Hassett also pointed to unemployment insurance claims as another sign of strength in the labor market.

“We had initial claims for unemployment insurance at the lowest we’ve ever seen,” he said.

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