know. here is jerome powell saying it is unprecedented in modern history that we had given up on the idea of 4% growth. we had given you up on that and the idea you can create 400,000 manufacturing jobs. this morning we have adp today, which is a big report on jobs and then friday we get the government number, monster, monster number, goods producing, dirty fingernails 825,000 since president trump has been in office for 21 months. 21 months before that was just 275,000. sandra: bottom line he is saying this is sustainable or saying it is too good to be true? he is saying it is almost too good to be true. people said this to him and has to agree. another key member of the fed said this morning the u.s. economy is firing on all cylinders. i expect the good performance to continue over the next few years. in other words, we ll play ball, we ll adjust rates but we
28,000 jobs. the 86th consecutive month of job again. the economist saying the job market is the strongest it s been in a decade. fox business network local pet elitist live from the new york stock exchange to break down the number is. positive report impacted the market today? i see it s up. absolutely. this morning, we were higher, we got the report. it just started moving higher and higher throughout the day. we ve had a winning day, traders were calling it runaway trade, the machine that keeps on cracking. they want to see a better economy. when you get news on a better economy particular for our labor force, the market dials up 86 points. we have 28,000 jobs added, 4.1 unemployment rate, which is the lowest level in 17 years. the average hourly earnings, that s 2.5% year over year. you can take a look at some of the groups doing particularly well, goods producing, service providing, retail, manufacturing, construction,
beyond that. this is an interesting thing. the middle class is the thing that separates developed, robust economies from developing economies where people are rich or they re poor. we ve had this great middle class that sustains things. here is the problem. if you look back our friends over at cnn money.com have done some research and if you look at it, go back a generation to the 80s and you find, look at 1988. the average taxpayer, this is according to the irs, earned $33,400. that s adjusted for inflation in today s dollars. look at it in 2008. $33,000 actually less. and if you go back they ve got a great chart on money.com. goes back to 1917 and basically you see middle class earners doing this with their income and rich people going like that. so what s actually happening with the wealthiest americans? well, it s they re not suffering from what everybody else is. when you go through from the war, the second world war, until about the late 70s, we were a goods producing, ma