And no, it's not because Obama's policies are "finally kicking in"; it's because the economy, released from Obama's policies, is now filling with confidence in the future. New hiring happens first -- it's a leading indicator that reflects expectations of a positive future.
Trump's 'Inclusive' Jobs Boom
With 228,000 jobs created in November, joblessness at a 17-year low of 4.1% and wages rising, it can no longer really be doubted: Donald Trump's relentless focus on tax cuts, deregulation and draining the swamp is great for job growth.
Even some normally critical media now admit the economy's underlying shift: "The American job market is the strongest it's been in a decade, and arguably the strongest since 2000," wrote The New York Times on Friday.
The Times is right. And the change is noteworthy, especially when viewed year-over-year.
Even though the workforce expanded by just under 1.1 million workers in the past 12 months, the number of people employed is up 1.87 million. That's why the unemployment rate continues to drop.
But the most interesting part of the jobs report, which goes almost unnoticed by the media, is that it's not just a few groups seeing more jobs and opportunity — it's broad-based, with minorities, women, men and even those with low incomes, showing the best gains.
For instance, every education group — ranging from those with no high school diploma, to those with a bachelor's degree or higher — saw significant declines in unemployment in November 2017 from November 2016. And the biggest drops were for those with the least education, not the most.
Meanwhile, groups that have lagged in recent years also show major improvements. For instance, the jobless rate for African Americans dropped from 8% to 7.3%, while for Hispanics it fell from 5.7% to 4.7%. For Asians it stayed at an ultralow 3%.
_________________
There Are Four Lights!