"Optimism over the Trump economic agenda has been riding high on Wall Street and the Dow has been hitting new records lately."
It must hurt to have to say that, but the Dow Jones Industrial Average just surpassed 22,000 for the first time.
Prime-age employment rate hits 78.7%, highest since September 2008. pic.twitter.com/hJ0i4G6adu— Ben Casselman (@bencasselman) August 4, 2017
US created 209,000 jobs in July, vs 183,000 jobs expected
The U.S. economy continued a strong summer, adding 209,000 jobs in July while the unemployment rate fell to 4.3 percent, the lowest since March 2001, according to a government report Friday.But they'll give it their best effort.
Economists surveyed by Reuters had expected the report to show growth of 183,000; the unemployment rate met expectations. A more encompassing rate that includes discouraged workers and the underemployed was unchanged at 8.6 percent.
The number of employed Americans hit a new high of 153.5 million thanks to a surge of 345,000. The employment-to-population ratio also moved up to 60.2 percent, tied for the highest level since February 2009.
Stock market futures liked the news, rising to indicate a positive open, while government bond yields also moved considerably higher.
"Kind of an all-around strong headline number," said Tony Bedikian, head of global markets at Citizens Bank. "More people are coming into the labor force and finding jobs. It's difficult to find anything really negative in the report."
Toyota, Mazda to build $1.6B, 4,000-job U.S. automotive assembly plant
Japanese automakers Toyota and Mazda plan to announce Friday that they will build a new $1.6 billion vehicle assembly plant in the U.S. that would create 4,000 jobs, a person familiar with the plans said.
The announcement is likely to be viewed as a victory for President Trump who has been pushing foreign automakers to make more vehicles in the U.S.
With the capacity to produce about 300,000 vehicles annually, the plant will be operational by 2021 through a new 50-50 joint venture, the person told USA TODAY. The person requested anonymity because they were not authorized to reveal the information prior to the formal announcement.
The move carries significant political implications following Trump's verbal assault on Toyota and other companies that sell foreign-made cars in the U.S. It was not immediately clear whether Trump's threats factored into the decision.