* Yesterday we got the final jobs report of the Obama era,

* We got the December Non-Farm Payroll.

* Now technically, when we get the January number, the first Friday of February,

* Half of that would have been during the Obama presidency,

* But because we won't get the official news until the Trump presidency,

* I'm sure that Donald Trump is going to take the credit, or maybe have to deal with the blame,

* Depending on how that number ends up being received, whether it beats the consensus or misses,

* But this is really the final jobs number for Obama.

* The number came out O.K.

* It missed the consensus estimate, which was 175,000 jobs,

* And the actual number, at least until they revise it next month was 156,000

* So that was below what was expected.

* Now they did revise upward the prior month from 178,000 to 204,000

* And the month before that was revised down a bit

* So I guess, when you take all the revisions, it was probably about a push on the number.

* This report should have been seen as not so good,

* Most of what I was reading was about how strong, not only this report was,

* But the entire job-creation legacy of Barack Obama

* This is what you get from the mainstream media

* That peddles all the fake news

* About what a great economy President Obama is handing off to Donald Trump;

* That we have really low unemployment -

* The official unemployment rate kicked up from 4.6, but still 4.7,

* So, low unemployment, all these jobs being created,

* Forgetting about the fact that once again, you're talking about low-paying, part-time jobs that have been created

* In fact, the number of Americans not in the work force grows again;

* It wasn't a big jump, but it was still a jump

* To a new all-time record high.

* So labor force participation has been eviscerated during the Obama years.


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