US job figures were good according to the monthly report for February. The 235,000 jobs added looked encouraging, though President Obama's figures for the same month four years ago were somewhat better. Reported unemployment in February declined to 4.7 percent. That's close to full employment There was even a slight uptick in hourly earnings.
Solid economic numbers
These figures could be read as an Obama legacy or a Trump achievement. This may explain why there have been no jubilant tweets from Mr. Trump. The idea of parity with a man he hates is unacceptable.
The New York Times saw the numbers as a sign that the Fed might raise interest rates soon. The only question that remained was whether the economy was poised to really take off or whether a deflating surprise could be in store.
The market chugs along
On the surface, things look good. The market moves higher. Employment is up in key sectors. The demand for skilled workers is forcing employers to offer more and more training. One could even argue that political volatility has little direct effect. After all, volatility seems standard now. Under the beleaguered Mr. Obama, things moved quite smoothly. Under the frenetic Mr. Trump, while all is well now, one thing is different. Trump can if he wishes upset things big time.
The Trump influence
It's not that Trump can send individual shares up and down with a tweet. That is minor compared to what he might do. Let's cut to the chase. He could create with Iran the same dynamic his predecessor George W. Bush created with Iraq. Beefing up the military to mega proportions is a warning sign. Trump serves oil interests and oil wags the world.
He just might be ready to fight Islam as well. One must assume that fear of an Iran escalation is not an original thought and that someone will ask the president about it. This deserves to be given placement as fear number one.
There is another potential economy buster but we will need a few weeks to figure it out. No one knows what the President's venture into health care will cost. A wrong answer combined with fear of Trumpcare passage could create substantial economic unrest.
