The Democrats in Congress are rolling ahead to vote on articles of impeachment against President Trump, but it’s hard to ignore that the nation’s economy is roaring to the best numbers seen since 1969, according to the November jobs report released on Friday.
On CNBC’s Squawk Box on Friday morning, Jim Cramer responded to the good news by saying “What a number!” He cited an analyst named Michael Cembalest at JP Morgan, who found the cable networks like CNN and MSNBC put positive economic news in 16th place among topics, far behind Russian election-meddling and other anti-Trump topics.
Liberal “people don’t want to say good things” even though the new Labor Department document contains “the best number I’ve ever seen in my life!”
Cramer added that the numbers might be so positive that Trump could “cancel trade talks with China.”
“When we win the trade war … they’re gonna have to put jobs here…In the end the Chinese are going to have to put jobs here. Because the thing is — the president can walk away from the table with this number,” he proclaimed.
CNBC’s Joe Kernan insisted that Americans won’t “see that written or said anywhere,” Cramer responded, saying the “truth sets people free.”
Cramer gushed: “You can’t contradict that these are the best numbers of our lives.… I don’t see inflation; I don’t see recession. Fifty years ago that number was a curse, now it’s a blessing. And you know something, Joe? It doesn’t matter whether you hate [Trump] or like him, these are real numbers!”
The report also indicated that the U.S. labor market added 266,000 nonfarm jobs during that month, with the unemployment rate falling to 3.5 percent at the same time.
In an article quoted by Cramer, CNBC Finance Editor Jeff Cox stated:
Economists surveyed by Dow Jones had been looking for solid job growth of 187,000 and saw the unemployment rate holding steady from October’s 3.6 percent.
The decline in November’s jobless rate came amid a corresponding 0.1 percentage point drop in the labor force participation rate, to 63.2 percent.
Also, average hourly earnings rose by 3.1 percent from a year ago, slightly above the number expected by economists polled by Dow Jones.
“In addition to the November gains,” Cox noted, “revisions brought up totals from the two previous months. September’s estimate went up 13,000 to 193,000, and the initial October count increased by 28,000 to 156,000.”
As if that news wasn’t positive enough, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all surged more than one percent in Friday trading in the stock market.