The monthly national job report on July 5 topped out at a comfortable, welcome 224,000 level.
But the overall telescopic view of America’s well-being reflects a questionable mixture of good and bad. Here are some headlines illuminating our economic cycles for the second half of 2019:
Washington Post: “Aided by a strong economy, Trump approval rises, but a majority also see him as ‘unpresidential.’”
Los Angeles Times: “No June swoon in jobs report — U.S. employers add 224,000 positions, possibly reducing the Fed’s motivation to cut interest rates” and “Stocks slip as interest-rate hopes waver” and “Economy healed? Not yet”
Wall Street Journal: “Jobs Report Allays Fears of Slowdown” and “Trump’s policies are helping workers more than Obama’s did”
Antelope Valley Press: On an Associated Press story, “U.S. adds solid 224,000 jobs”
On Friday, Associated Press reported:
June’s solid job growth followed a tepid gain of 72,000 in May, a result that had fueled concerns about the economy’s health. But with June’s pace of hiring, there was a solid 171,000 jobs, on average, for the past three months.
The government sector was a major source of hiring, adding 33,000 jobs in June. Nearly all those gains were at the local level.
The month’s burst of hiring suggests that many employers have shrugged off concerns about weaker growth, President Donald Trump’s trade wars and the waning benefits from U.S. tax cuts.
“Although there are drags on the economy in 2019, the expansion should continue through this year,” Gus Faucher, chief economist at PNC Financial Services said. “The doom and gloom was overblown.”
Earthquake damage in the Ridgecrest area may cause a boom in reconstruction in the months ahead.
Most drugs for critical illnesses have, for decades, passed through a standard battery of tests before regulators allowed them onto the market.
A small portion were “fast tracked” through federal programs, expediting their approval.
Now that dynamic has flipped. Most drugs are released faster than ever through federal programs. expediting their approval.
The U.S. Food and Drug Administration approved a record 43 new drugs last year through fast-track programs that skip or shorten major steps other drugs must pass, or 73% of total new drugs. That compares with 10 expedited drugs, or 38% of the total, approved 10 years ago.
These programs clear drugs for patients that the FDA considers to be in high need, often for deadly or debilitating ailments with few or no treatments.
The Wall Street Journal review of FDA data shows how that trade-off plays out in the biggest new drug category: Cancer.