Posted By RichC on January 6, 2017
U.S. employment increased less than expected in December, but wages are rising, ever so slightly after a long stagnancy. Most economists are positive since they say we only need to create 56,000 jobs per month to keep up with current levels of new entrants in the job market. Others will point out that our job participation rate is much lower than prior to the recession or since the late 1970s for that matter.
I’m optimistic for the country and for those entering the workforce. For the first time in 8 years business has a reason to be positive … “IF” (big if) … the hefty burden of regulation are really eased in the coming year … AND if corporate taxes are reduced to levels competitive with other developed nations. These two biggies will almost guarantee that growth will return to the U.S. economy. There are worries of course. Government over spending and over meddling thinking they know best … too many love to sell their constituents on what they did for them. Foreign relations and unrest could rise as trade war tensions escalate, not to mention the ongoing threat of terrorism, war and new nuclear concerns of North Korea and Iran.
President-Elect Donald Trump was also confirmed by congress today in preparation for him taking the oath of office in a couple weeks. The market has decided to embrace what is now perceived as a business friendly administration and along with a Republican congress will likely get a few high profile bills passed and much of President Obama’s legacy push repealed … primarily Obamacare, but likely improvements in border security and support for the military and law enforcement. As they say, “a new sheriff is in town.”
The stock market has been on a rally ever since the “if Donald Trump is elected” doomsday predictors faded quickly away. Now the concern is whether or not the market is ahead of itself? DOW watchers continue to hope for DOW 20K and each day we rise the number seems within reach … and then pulls back. Today was the closest we’ve come to hitting it as for a moment the DJIA rose to 19,999 before falling back and closing at 19,964.28. We are close.
On a TechFriday note, the external Rode VideoMicro microphone came in for my Panasonic Lumix GX8 camera. It seems to improve the audio over the “in camera” microphone, but it is hard to tell if it will reduce background noise … voices from behind the camera and all around are still recorded, so it isn’t quite as directional as I had thought. After a quick test, my own voice sounded a bit fuller and definitely louder at 4-5 feet.