Jumpin’ Ju-Ju Bones: ADP September Payrolls Grew by 230,000 in September…. #TopNews

Hold on to your MAGA caps there’s a winner wonderland ahead. According to the latest ADP private payroll release today, private sector payrolls grew by a stunning 230,000 jobs in September. [They were anticipating 185k] Massive jobs gains amid small, medium and large sized companies (report here).

This comes on the heels of the latest stats on paychecks which show *average* wage gains around 2.6% over last year. Key word “average“. There are multiple job sectors with wage increases of four to seven percent; well above the rate of consumer price inflation.

(Via CNBC) Job growth surged in September to its highest level in seven months as the economy put up another show of strength, according to a report Wednesday from ADP and Moody’s Analytics.

Private companies added 230,000 more positions for the month, the best level since the 241,000 jobs added in February and well ahead of the 168,000 jobs added in August.

The total was well ahead of the 185,000 jobs expected by economists surveyed by Refinitiv (formerly Thomson Reuters). Construction grew by 34,000 as goods-producing industries overall contributed 46,000 to the final count. (read more)

In my ongoing opinion, it becomes very important here to dismiss most of the current financial punditry when they discuss the sustainability of economic growth and expansion of wages and capital investment.

Several years ago CTH pointed out there was a complete disconnect in the economic analysis from Wall Street and Main Street. Indeed, there is a disconnect in economic theory which has been driven by 30 years of ‘globalism’, and trade economics based around a forecast of the diminished U.S. manufacturing sector.

President Trump has smashed the “service-driven-economy” approach; and through well constructed policy he has begun a process to broaden the base of the economy overall. The direction of current ‘America-First’ domestic investment is toward manufacturing, processing, construction, right here in the U.S. America is currently in a process of building baselines, the factories and plants, for long-term independent internal growth.

CTH noted that during the transition from a Wall Street (global) economy to a Main Street (nationalistic) economy; we would enter a new dimension within the U.S. economy that would defy traditional quantification – thus it is not predictable. {Go Deep}

Under the America-First MAGAnomic approach the only limit to GDP growth is the speed at which new investment can be turned into production. As this production comes on line the productivity within the production will drive higher.

This new dimension is happening within our borders and not connected to “global markets”. The policy is designed NOT TO BE impacted by global markets. The U.S. is becoming more self-sufficient and industrial again.

Therefore the traditional financial class, all economic models based around global supply chains, multinational corporate activity and the inherent matrix of exploited international labor and material, is becoming increasingly DISCONNECTED from having any impact on the U.S. economy.

We are in the space between two economic engines: Wall Street and Main Street.

The MAGAnomic emphasis is fueling Main Street growth. Simultaneously this is having massive positive impact on jobs and wages. The growth of Main Street jobs and wages are having a psychological effect on the U.S. Stock Market; and contributing to the profits of the corporations within the market. However, over time the multinational corporations will see less financial benefit, and the biggest returns will be in domestic corporations who are going to gain more business from activity within U.S. borders.

Watch.

It’s happening.

The pundits are trying to figure out how this growth rate can continue. It can continue because, in essence, we are rebuilding the inside of the U.S. after decades of neglect.

Here’s Kudlow… Even he has a tough time explaining it: