Jobs Report Shows DOGE Is Working
Jobs Report Shows DOGE Is Working. Main Stream Media would like you to believe that the economy has been faltering under Trump. GDP has narrowly shrunk, but the jobs report was good, beating Wall Street expectations.
So first we had the GDP numbers from the other day, but now we’ve got the jobs numbers in from the month of April, and the total is 177,000. Well, this is far better than the 133,000 estimate, but the unemployment rate has stayed the same in 4.2, so this means more people getting into the. Job market, more people are able to find jobs. What kind of jobs? And doesn’t this fly in the face of a GDP that is down .3%? Or is this all too wonky? Because I happen to like wonky and I think we should figure it out. EJ Antoni joins me. From the Heritage Foundation economist over there and I start with a basic which is let’s start with this jobs report you see 177,000 jobs 133,000 is the estimate 4.2% unemployment. Let’s say you.
Well, Tony, you know me. I’m a numbers guy. You know, there there’s not really room for ideology in economics. So, let’s just go through the numbers. Yes, it’s true that this was a big beat in terms of expectations. In other words, the jobs numbers came in much larger than Wall Street was expecting. But let’s not forget to look at the revisions. Previous months were revised down by about as much as this figure beat the estimates. In other words, once you account for those changes, the number was dead on. So, we don’t want to make the mistake that that the Biden administration kept making, for example, where they always ignored the revisions and only looked at the headline number. In other words, this month is still good. But it wasn’t. Great, so it’s not bad. It’s not, you know, it’s not horrible. It’s not what I mean to say, but let’s not look at this through rose colored glasses and pretend it’s something bigger than it really was. It was an OK to good jobs report.
You see the market that it went up over 300 points in in in in the pre-market it’s been up as high as 400. Plus, uh, today they see it as good news. Are they, are they just reactors to anything? You know, Dr Matt Will, economist at the University of Indianapolis, says that these people are all junkies and they’re just looking for the next hit and the next fix. And anything that could be seen as good news, they’ll mainline as fast as they can and take it as good news. So why the jump in the market?
So Tony, I think a lot of it has to do with the fact that they don’t understand the GDP report and they think that that was much worse than it actually was. So now any bit of good news they’re really latching on to and getting excited about and hoping that the GDP was just kind of a one-off statistical problem. Now again, if we look at the internals of this. Support of the jobs report, you know, it’s not great. It’s not terrible. There was job growth. It was pretty much across the board throughout the private economy. We saw both full time and part-time employment go up. That’s a good sign. We saw more people enter the labor force. That’s a good sign. The people who were at one point in the labor force but chose to sit on the sidelines they increasingly are coming back in at a rate of about 300,000 a month as you pointed out already, the unemployment rate stayed steady. It did not tick up. So that tells us that as people are coming into the labor force, they’re also able to get jobs as opposed to entering the labor force but not being able to find any work. So again, just because you didn’t have a blowout jobs number doesn’t mean it wasn’t good. It was it? It was a decent report. Again, the internals were positive. There’s there are no red flags in this report where I would look at it and say, oh oh, here’s the problem. They are pretty much the only places where we saw significant decreases were in the federal government. So again, good sign
The government jobs going down is in terms of its high hiring, it’s number of people. That’s a sign that DOGE is working?
Exactly. In fact, we now have had four straight months, every month of this year, we’ve seen employment at the federal government and I’m, I’m not including the Postal Service in that. You have to pull that out of the statistics. So, if we’re just looking at basically the federal bureaucracy, employment there has dropped for the 4th consecutive month. That’s something that hasn’t happened. In quite a while. And by the way, these are actually significant declines. This wipes out the last nine months of federal government job growth under the Biden administration. So again, significant reversal. It’s good news. This was pretty much the only place where we saw a significant drop in employment and this is the one place you want to see it. So again, that’s a very good sign that DOGE is in fact working.
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