Jobs data likely confirm Trump will inherit solid economy
WASHINGTON - If forecasts are correct, the economy will be in pretty good shape when President-elect Donald Trump takes over in January.
Data provider FactSet reports economists have forecast that employers added a solid 174,000 jobs last month and that the unemployment rate remained a low 4.9 percent. Those figures are far healthier than those President Barack Obama encountered after his election eight years ago
In late 2008, the unemployment rate was on its way to a 10 percent peak in October 2009, and employers would go on to eliminate 8.7 million jobs before the bleeding stopped in early 2010. Since then, the economy has added 15 million jobs and enjoyed its fourth-longest expansion ever.
Yet while the nationwide data looks robust, under the surface remain many of the long-term challenges that bedeviled Obama and that likely led millions of Americans to vote for Trump rather than Hillary Clinton.
Fewer than 60 percent of adults have jobs - 3 percentage points lower than when the Great Recession began in late 2007. In part, that trend reflects retirements by the nation's many baby boomers. But it also means hiring hasn't kept up with population growth.
Pay gains remain sluggish, though they have picked up in the past year.
Yet seven years into the recovery, pay growth is still below healthy levels.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Restaurants facing broken food supply chains due pandemic
Driver shot during Iberville police chase was fleeing law enforcement with his...
Turnout remains low at federally-backed mass vaccination sites
Cryptocurrency making a wave in Baton Rouge, lawmakers hope to create rules...
Louisiana governor urges feds to resume offshore leases in months
LSU pitcher Matt Beck gets his moment at the plate
Brusly baseball needs extra innings to win regional series with Jennings.
Southern Athletic Director Roman Banks talks about coaching search
Drew Brees and Sean Payton enjoy the Zurich Classic
Legendary Parkview coach Kenny Guillot passes away at 76