This article originally appeared on Fox Business on October 2, 2020.
America woke up to the news Friday morning that President Trump and first lady Melania had been diagnosed with the coronavirus.
On a personal level, I am sure all our prayers and sympathies are with the president and first lady.
On an economic level, you know what that kind of breaking news means for Wall Street. With just a month to go before the election, investor uncertainty drove stocks down in morning trading.
The last jobs report before the November election was also released Friday. You may read elsewhere about an economic slowdown but September’s very positive jobs numbers actually confirm that we are still experiencing the most dynamic economic recovery in American history — bar none.
Following the four best months for job growth since the government began tracking the data in 1939 — 4.8 million jobs in June, 2.7 million in May, 1.7 million in July, 1.4 million in August — the economy added an additional 661,000 jobs in September.
But for the four record-setting months that preceded it, September’s jobs numbers were the best since September of 1983 during the Reagan presidency. While this was a slowdown from four record-setting highs, keep in mind that the numbers slowed to a 37-year high.
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