(CNSNews.com) - The number of people employed in the United States hit a record 157,878,000 in August, according to the employment report released today by the Bureau of Labor Statistics.

That's an increase of 590,000 from the record 157,228,000 employed in July.

The unemployment rate held steady at 3.7 percent. For blacks, the unemployment rate dropped to a record low of 5.5 percent last month. And for Hispanics, the unemployment rate was 4.2 percent in August, which ties the record low set earlier this year.

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The labor force participation rate edged up to 63.2 percent in August, indicating that the strong labor market has continued to draw Americans into the workforce.

While the economy continued to grow in the second and third quarter, it has slowed from the rapid 3.1 percent rate of growth in the first three months of the year. Manufacturing appears to have contracted and business investment has been weak, with surveys indicating that uncertainty around trade policy and global economic weakness have become a drag on the U.S.

Consumer spending and the labor market have been strong. Data released Thursday showed worker compensation rising strongly and well-above inflation. Rising labor costs can promote capital investment by businesses seeking to make workers more productive. With unemployment near 50-year lows, job growth has slowed and many businesses say they are having trouble hiring. Employment growth has averaged 158,000 per month thus far this year, compared with an average monthly gain of 223,000 in 2018.

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U.S. private employers added 195,000 jobs in August

(Reuters) U.S. private employers added 195,000 jobs in August, above economists’ expectations, a report by a payrolls processor showed on Wednesday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 149,000 jobs, with estimates ranging from 110,000 to 175,000.

The internal U.S. economy is very strong.  It’s the U.S. companies, multinationals, that rely on external operations for their end-product production income that are tentatively positioned.

Main Street is thriving; Wall Street is in flux.  This is the exact opposite of two prior decades where Wall Street was thriving and Main Street was in flux.  Why?…

Because Trump!

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UPDATE AUG 26: 

The corporate media will never admit it, but President Trump has masterfully lined-up support for America’s pressure on China, and China has blinked and now wants “calm” talks.  Reuters reports:

China is willing to resolve its trade dispute with the United States through “calm” negotiations and resolutely opposes the escalation of the conflict, Vice Premier Liu He, who has been leading the talks with Washington, said on Monday. (snip)

Liu, speaking at a tech conference in southwest China’s Chongqing, said nobody benefited from a trade war.

“We are willing to resolve the issue through consultations and cooperation in a calm attitude and resolutely oppose the escalation of the trade war,” Liu, who is President Xi Jinping’s top economic adviser, said, according to a government transcript.

“We believe that the escalation of the trade war is not beneficial for China, the United States, nor to the interests of the people of the world,” he added.

U.S. companies are especially welcome in China, and will be treated well, Liu said.

Now that supply chains are rapidly shifting out of China, throwing millions out of work there, China sees the wisdom of “welcoming” US companies. But it is not Chinese hospitality that is at issue, it is the intellectual property theft, currency manipulation, and barriers to US exports that US tariff and trade policy are now retaliating against. Those will not go away until China takes enforceable steps to play by the same rules other OECD members observe.

Speaking to reporters at the G-7 conference in France, President Trump acknowledged the Chinese move:

"We've got two calls, very, very good calls, very productive calls," Trump told reporters. "They mean business."

Using his habitual technique, Trump once again lauded Xi personally as he turns the screw tighter on the Chinese economy:

“I have great respect for the fact that China called and they want to make a deal," Trump said, during a G-7 meeting in which allies have pressured the U.S. to ease up on the trade war with China. "I have great respect for President Xi.”

Now, Xi has to sell concessions to his own hardliners in the Chinese Politburo. Dictator though he is, Xi knows well that his hold on power is not absolute. Trump is playing him like a fiddle.

By Thomas Lifson 

Donald J. Trump ✔@realDonaldTrump

Beijing Pledges Fight “To the End” Against U.S. Economic Confrontation – Let It Be So.

President Trump will use the full measure of economic tools at his disposal.

 by sundance

During an oval office press conference on Tuesday Aug. 20,, President Trump took several questions about China and the U.S. trade confrontation.  After receiving the third question, on the same subject, President Trump paused and then went deep into the heart of the issue.

The question was:” Mr. President, you keep insisting that your trade war with China — the trade war with China is not affecting the U.S. economy. But a lot of economists disagree with that. And they worry that if China goes into a recession, they’ll pull us down with it.”

[Transcript] … PRESIDENT TRUMP: Well — well, okay. Let me — let me tell you something. Number one, we’re doing very well as an economy. But somebody had to take China on. You know, I read and I see so much and I read so much, and I’ll see these economists saying, “Oh, give up. Give up on China. Give up.”

China has been ripping this country off for 25 years — for longer than that. And it’s about time, whether it’s good for our country or bad for our country short term. Long term, it’s imperative that somebody does this because our country cannot continue to pay China $500 billion a year because stupid people are running it.

. So I don’t mind this question.

. Whether it’s good or bad, short term, is irrelevant.

. We have to solve the problem with China because they’re taking out $500 billion a year-plus. And that doesn’t include intellectual property theft and other things. And also, national security.

. So, I am doing this whether it’s good or bad for your — your statement about, “Oh, will we fall into a recession for two months?” Okay? The fact is, somebody had to take China on.

. My life would be a lot easier if I didn’t take China on. But I like doing it because I have to do it. And we’re getting great results.

 . China has had the worst year they’ve had in 27 years. And a lot of people are saying the worst year they’ve had in 54 years. Okay? And frankly, I don’t want that to happen, but it does put us in a good negotiating position, doesn’t it? And China wants to make a deal, and that’s good. But they have to make a deal that’s fair to us. It can’t be a deal that’s not fair to us.

And you should be happy that I’m fighting this and I’m fighting this battle, because somebody had to do it. We couldn’t let this go — I don’t even think it’s sustainable to let go on what was happening.

They were stealing all of our intellectual property ideas. The theft was incredible. They call it “intellectual property theft.” And they value it at $300 billion a year. Who knows how they value it? I know how to value dollars; I don’t know how to value intellectual property theft. But they have experts that say it’s at least $300 billion a year, where they steal it.

Somebody had to do something with China.

Obama should have done it.

Bush should have done it.

Clinton should have done it.

They all should have done it. Nobody did it .. I’m doing it.

So what do you say? “Oh, my trade deals are causing them.” My trade deals aren’t causing a problem. This is something that had to be done. The only difference is I’m doing it.

I could be sitting here right now with a stock market that would be up 10,000 points higher if I didn’t want to do it. But I think we have no choice but to do it. And a lot of people that really know, people that love our country, they’re saying, “Thank you very much for taking it on.” And we’re winning because they’re having the worst year they’ve had in decades. And it’s only going to get worse.

China has lost 2 million jobs in the last month and a half because they’re moving — the people, the companies are moving to non-tariffed countries. They’ve lost over 2 million jobs in a very short period of time. They’re going to lose a lot more jobs. And if I didn’t help certain companies — there are American companies like Apple — for a very short period of time, I may help them, only until they do what they have to do, which is probably move from China. Because this would be a very short term. If I didn’t help them, they would — I mean, they would be — they would have a big problem.

Here’s the thing: Somebody had to take on what China was doing to the United States economically. We’re winning big. I took it on. And it should have been done by previous Presidents, but I took it on. And I’m happy to do it because it had to be done. And the smart people say, “Thank you very much.” And the dumb people have no idea. And then you have the political people, and they go with the wind.

But they all know — even Senator Schumer said, “Wow, Trump is doing a great job with China.” I couldn’t believe that. But Schumer thinks I’m doing the right thing. And he’s doing the right thing by saying it because he knows that China was a big economic threat. And they were taking all of that money that they were making from us, and they were building planes and ships and lots of other things. And we can’t let that happen.

Tweet dialogue boxes & Transcript link provided by The Consrveative Tree House - 

MORE: Trump Faces Down the China Threat

By CONRAD BLACK

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Currency manipulation, intellectual property theft and forced technology transfers for U.S. companies in joint ventures with Chinese companies.

U.S.-China trade war developments have roiled markets for more than a year, and there have been signs the rafts of additional tariffs from both sides are having real effects on economies around the world. Click HERE to read more

• The reforms within the original agreement were antithetical to Beijing. Chairman Xi Jinping and the communist politburo rejected them. 
• For Beijing the compliance and enforcement sections within the agreement were too severe and did not allow China to retain control over the trade terms.  The agreement was rejected.
• As a consequence it’s not a matter of “if” Trump will apply more tariffs; it is a matter of “when” will Trump apply the tariffs.
• That said, there’s no duplicity in the U.S. Position. Mnuchin and Lighthizer are earnestly working in good faith; but President Trump is expecting ‘no deal’.

Secretary Wilbur Ross was very insightful last week when he also spoke of the current U.S. perspective toward the U.S-China trade negotiation.  

Click image to watch 

  by sundance

Our 73 yr. old president held the third press conference over thirty minutes in the past four days. No questions filtered; direct responses from President Trump; all questions answered…. and the media can’t take it.

Media peeps complaining: 'he talks too long'... 'he answers too many questions'... 'it's hot here'...'he's melting us'... Halp!

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.  No one talks about Jim Acosta anymore

 Read The Conservative Tree House by sundance

 New York Times web site on Nov. 8, 2016

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READ - Have Pollsters Learned Nothing since the Last Election?

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By Brian C. Joondeph