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Rep. Maxine Waters, D-Calif., the Chairwoman of the House Committee on Financial Services, during a hearing on April 10, 2019.
Rep. Maxine Waters, D-Calif., the Chairwoman of the House Committee on Financial Services, during a hearing on April 10, 2019.

American voters handed over control of the U.S. House of Representatives to the Democratic Party in 2018 over protections for preexisting conditions, more broadly the issue of healthcare. Regardless of what the television talking heads have claimed since, the voter analysis is very clear.

Swing voters in battleground America had and have little to no interest in impeachment proceedings. President Donald Trump’s approval rating in most battleground districts was higher than the eventual vote share for the Republican congressional candidate.

Before and during the 2018 midterm elections, Democrats and Democrat-friendly Corporate Big Media argued the more radical, impeachment-supporting members were fringe juxtaposed to the party as a whole.

House Speaker Nancy Pelosi, D-Calif., and her top lieutenants favor using the guise of oversight hearings to conduct de facto impeachment proceedings. That isn’t the same as the position held by the American people. Polls clearly show they do not support impeachment.

While Democratic leadership privately caution members about publicly supporting or even discussing impeachment, the most vocal collusion-truthers and fringe members of the party were rewarded with committee chairmanships.

Several have publicly supported impeaching Donald Trump since Inauguration Day. But it has become increasingly clear the party has supported it for just as long.

Representative Adam Schiff, D-Calif., is now the Chairman of the House Permanent Select Committee on Intelligence (HPSCI), or House Intelligence Committee. He repeatedly claimed to have personally seen proof the President of the United States colluded with Russia.

We now definitively know — for a fact — that was not true.

The Special Counsel employed 19 lawyers assisted by a team of roughly 40 FBI agents, intelligence analysts, forensic accountants, and other professional staff. The team issued more than 2,800 subpoenas, executed nearly 500 search warrants, obtained more than 230 orders for communication records, issued almost 50 orders authorizing use of pen registers, made 13 requests to foreign governments for evidence, and interviewed approximately 500 witnesses.

The report revealed, “[T]he investigation did not establish that members of the Trump Campaign conspired or coordinated with the Russian government in its election interference activities,” adding “despite multiple offers.”

Unaffected by the report or facts, the new chairman has continued to insist on repeating that and other false claims. Republicans on the House Intelligence Committee have called on Rep. Schiff to resign as chairman, citing those false claims and known leaking of sensitive committee material to the media.

Representative Steve Cohen, D-Tenn., is now the Chairman of the House Judiciary Subcommittee on the Constitution, Civil Rights and Civil Liberties. He has been pushing for impeachment since 2017, well before the facts were even known.

He claimed “there is no way they [Russia] didn’t influence enough voters to turn the election for Donald Trump,” and peddled almost every facet of the collusion conspiracy debunked by the report.

Representative Maxine Waters, D-Calif., is the Chairwoman of the House Financial Services Committee. Recently, the chairwoman made a fool of herself asking the heads of the nation’s largest banks what they were doing “to help” on student loan debt.

She, too, has been pushing for impeachment since 2017.

Representative Eliot Engel, D-N.Y., is the Chairman of the House Foreign Affairs Committee. He also claimed to know the President of the United States colluded with the Russians before the Special Counsel.

“We know there was collusion between the Russians and the Trump campaign,” Chairman Engel told reporters the day after the 2018 midterm elections. “The question is what kind of collusion, and how much collusion? I want to know that. We all want to know that.”

Representative Jerry Nadler, D-N.Y., is the Chairman of the House Judiciary Committee. If President Trump were to be impeached, the process would start in his committee. Democrats on the committee just voted to hold Attorney General William Barr in contempt for refusing to comply with a subpoena that would violate the law.

The Judiciary Committee issued a subpoena demanding the Justice Department (DOJ) turn over 535 fully unredacted copies of the Mueller report by May 1. Complying with the subpoena would violate a law championed by Chairman Nadler, himself.

The less-redacted version “would permit review of 98.5 percent of the report, including 99.9 percent of Volume II, which discusses the investigation of the President’s actions,” as Assistant Attorney General Stephen Boyd told the chairman in a letter last week.

Thus far, not a single Democrat has even bothered to review it.

“I mean, obviously, we know there — we know there was some collusion,” he said on March 24, which was debunked in a fact check.

On Wednesday, he repeated the falsehood by claiming Special Counsel Mueller’s report “very much implicates the president’s campaign working with Russia to subvert the election.”

While Chairman Nadler is acting like Mr. Cautious now, his most impressive performance is his star role is the plan to use the guise of oversight hearings as de facto impeachment proceedings.

House Democrats play coy, but collusion-truthers on

Import, Export, Logistics concept - Map global partner connection of Container Cargo freight ship for Logistic Import Export background (Photo: AdobeStock/Elements of this image furnished by NASA)
Import, Export, Logistics concept – Map global partner connection of Container Cargo freight ship for Logistic Import Export background (Photo: AdobeStock/Elements of this image furnished by NASA)

The U.S. trade deficit rose only $0.7 billion to $50.0 billion in March, less than expected and beating the consensus forecast. The steady gap comes after two sharp consecutive declines in the trade deficit.

PriorConsensus ForecastForecast RangeActual
Trade Balance Level$-49.4B$-50.2B$-51.8B — $-48.8B$50B

Exports rose $2.1 billion to $212.0 billion in March, while imports rose $2.8 billion to $262.0 billion.

The average goods and services deficit fell by $3.3 billion to $50.1 billion for the three months ending in March. Average exports rose $2.2 billion to $209.7 billion and average imports fell $1.1 billion to $259.9 billion.

Year‐over‐year, the average goods and services deficit fell $1.9 billion, as average exports increased $4.7 billion and average imports increased by just $2.7 billion.

The politically-sensitive U.S. trade deficit with China fell $1.9 billion to $28.3 billion in March. Exports rose $1.4 billion to $10.5 billion and imports fell $0.5 billion to $38.8 billion.

The U.S. trade deficit rose only $0.7

U.S. jobless claims graph on a tablet screen. (Photo: AdobeStock)
U.S. jobless claims graph on a tablet screen. (Photo: AdobeStock)

The Labor Department said initial jobless claims fell 2,000 to 228,000 for the week ending May 4, a less steep decline than the consensus forecast.

The 4-week moving average was 220,250, an increase of 7,750 from the previous week’s unrevised average of 212,500.

PriorConsensus ForecastForecast RangeActual
Initial Claims – Level230K215K213K — 222K228K

The advance seasonally adjusted insured unemployment rate remained unchanged at a very low 1.2% for the week ending April 27.

In lagging data, the advance number for seasonally adjusted insured unemployment came in higher at 1,684,000 during the week ending April 27. That’s an increase of 13,000 from the previous week’s unrevised level of 1,671,000.

The 4-week moving average came in lower at 1,665,750, a decline of 8,000 from the previous week’s unrevised average of 1,673,750.

‘No state was triggered “on” the Extended Benefits program during the week ending April 20.

The highest insured unemployment rates in the week ending April 20 were in Alaska (2.5), Connecticut (2.4), New Jersey (2.2), Rhode Island (2.1), Virgin Islands (2.1), California (2.0), Massachusetts (1.8), Puerto Rico (1.8), Illinois (1.6), and Pennsylvania (1.6).

The largest increases in initial claims for the week ending April 27 were in New York (+6,532), New Jersey (+3,041), Mississippi (+825), Delaware (+782), and Texas (+645), while the largest decreases were in Massachusetts (-6,632), California (-3,588), Rhode Island (-2,466), Connecticut (-1,777), and Illinois (-831).

The Labor Department said initial jobless claims

Donald Trump Jr. speaks in Indianapolis, Indiana on May 8, 2017. (Photo: AP)
Donald Trump Jr. speaks in Indianapolis, Indiana on May 8, 2017. (Photo: AP)

The Senate Intelligence Committee, which is chaired by Senator Richard Burr, R-N.C., subpoenaed Donald Trump Jr. in relation to the Russia investigation. Axios first reported the first known congressional subpoena for one of the President’s children, which has since been confirmed by The Association Press (AP) and other outlets.

“We do not discuss the details of witness engagements with the Committee,” a source told Axios.”Throughout the investigation, the Committee has reserved the right to recall witnesses for additional testimony as needed, as every witness and witness counsel has been made aware.”

Not one week ago, Senate Majority Leader Mitch McConnell, R-Kty., said it was time to move on from the Russia probe following the release of the report from investigation conducted by Special Counsel Robert Mueller.

The investigation cleared not only the President of the United States but also members of the campaign.

“[T]he investigation did not establish that members of the Trump Campaign conspired or coordinated with the Russian government in its election interference activities,” the report conclusively stated, adding “despite multiple offers.”

Chairman Burr himself previously stated the committee had found no evidence of so-called collusion. Trump Jr. testified for more than 25 hours in total with three different committees and before the Senate Intelligence Committee back in September 2017.

Below is a statement from a source close to Don Jr.

Don is a private citizen, who has already been cleared by Mueller after a two-year investigation. He has done 8-9 hours of testimony in front of Senate Intel already and 27 hours of testimony in front of various committees in total. When he originally agreed to testify in front of the Senate Intel Committee in 2017, there was an agreement between Don and the Committee that he would only have to come in and testify a single time as long as he was willing to stay for as long as they’d like, which Don did. Don continues to cooperate by producing documents and is willing to answer written questions, but no lawyer would ever agree to allow their client to participate in what is an obvious PR stunt from a so-called “Republican” Senator too cowardly to stand up to his boss Mark Warner and the rest of the resistance Democrats on the committee.

Trump Jr. told the Senate Judiciary Committee in 2017 he was “peripherally aware” of the proposal to build a Trump Tower in Moscow.

Senator Susan Collins, R-Me., said after now-jailed former lawyer Michael Cohen spoke to the committee behind closed doors that they “clearly need to re-interview some witnesses whose accounts (Cohen) contradicts.”

Cohen, who perjured himself before Congress numerous times and reported to jail this week, told a House committee back in February he had briefed Trump Jr. approximately 10 times about the plan.

The Senate Intelligence Committee, which is chaired

White House Asserts Executive Privilege as DoJ Refuses to Break the Law

Attorney General William Barr appears before the House Appropriations Commerce, Justice, Science, and Related Agencies Subcommittee on April 9, 2019.
Attorney General William Barr appears before the House Appropriations Commerce, Justice, Science, and Related Agencies Subcommittee on April 9, 2019.

House Judiciary Committee Democrats voted Wednesday to hold Attorney General William Barr in contempt for not violating the law by releasing the full unredacted version of the Mueller report. The committee vote is a recommendation to the full U.S. House of Representatives.

The 24 to 16 vote was along party lines, with not a single Republican voting in favor. If the full U.S. House passes the resolution, it would make William Barr only the second Attorney General after Eric Holder to be held in Contempt of Congress.

Mr. Holder was held in Contempt of Congress for withholding documents surrounding the gun-running scandal known as Fast and Furious, which U.S. District Judge Amy Berman Jackson ordered to be handed over.

Judiciary Committee Chairman Jerry Nadler, D-N.Y., issued a subpoena demanding the Justice Department (DOJ) turn over 535 fully unredacted copies of the Mueller report by May 1. Previously, DOJ released a lightly redacted version of the report, which lays out the findings of the investigation led by Special Counsel Robert Mueller.

Redactions to the publicly release version constitute less than 10% of the report. Attorney General Barr further made available a near-fully unredacted version minus grand jury testimony to the Gang of Eight, Chairs and Ranking members of both Judiciary committees.

Thus far, not a single Democrat has even bothered to review it.

“Neither the White House nor Attorney General Bill Barr will comply with Chairman Nadler’s unlawful and reckless demands,” the White House said in a statement. “The President has no other option than to make a protective assertion of executive privilege.”

In a letter to Chairman Nadler last week, Assistant Attorney General Stephen Boyd said the less-redacted version “would permit review of 98.5 percent of the report, including 99.9 percent of Volume II, which discusses the investigation of the President’s actions.”

Only Senate Majority Leader Mitch McConnell, R-Ky., Senator Lindsey Graham, R-S.C., and Judiciary Committee Ranking Member Doug Collins, R-Ga., made the trip to the skiff where the version is available for review.

Volume I of the Mueller report exonerates the President of the United States and others of accusations of so-called “collusion” with Russia to influence the 2016 election. Volume II involves the question of obstruction of justice.

Mr. Mueller made the very unusual and irregular decision not to make a recommendation on obstruction of justice, opting instead to punt to Attorney General Barr and Deputy Attorney General Rod Rosenstein.

After consultation, the nation’s top cop and his number two decided the ten instances of potential obstruction did not meet the statutory bar, lacking the required “corrupt intent” to obstruct an underlying crime.

Rep. Jim Jordan, R-Ohio, suggested the committee hold off on the vote until Mr. Mueller testifies, which is expected as early as next week. He accused Democrats of smearing the attorney general because he is investigating spying on the Trump Campaign by the Obama Administration.

“I think it’s all about trying to destroy Bill Barr because Democrats are nervous he’s going to get to the bottom of everything,” he said. “He’s going to find out how and why this investigation started in the first place.”

“Why don’t you just wait for the guy who wrote it, who spent $35 million on it?” he asked Chairman Nadler.

Rep. Hank Johnson, D-Ga., who once said he feared Guam would capsize if U.S. troops were only stationed on one side of the island, said Democrats want the full version for impeachment efforts.

“We have lawful responsibilities, constitutional responsibilities to engage in, one of which is possibly impeachment,” he said. “How can we impeach without getting the documents?”

“So we must get this document.”

Speaker Nancy Pelosi, D-Calif., and other Democratic leaders have cautioned members about openly discussing impeachment. Polls overwhelmingly show Americans do not support it. Speaker Pelosi and her top lieutenants favor using the guise of oversight hearings to conduct de facto impeachment proceedings.

“The Obama Administration ran an intel operation against the Trump Campaign,” Rep. Matt Gaetz, R-Fla., said. “Peter Strzok opened it up, Robert Mueller kept it going and now the Democrats need to get over it.”

The disagreement over 1.5% of the material not released to the public centers around Rule 6(e), which was enacted by congressional legislation to protect the innocent in grand jury testimony. Ironically, Chairman Nadler was one of the strongest supporters of the rule.

Rule 6(e) concerns “disclosure of matters occurring before the grand jury other than its deliberations and the vote of any juror may be made to the attorneys for the government for use in the performance of their duties.”

Rep. Mike Johnson, R-La., cited several instances of judicial precedent to make the case for the attorney general. The courts have repeatedly upheld the privacy rule for grand jury testimony, making only limited exceptions that don’t apply in this particular case.

“This is not about seeking the truth. This is about raw politics,” Ranking Member Collins said. “The Democrats on this committee have weaponized oversight authority, and it’s shameful.”

White House Asserts Executive Privilege as DoJ

MBA Weekly Mortgage Applications Survey Composite +2.7%, Purchase Index Rises a Solid +4.0%

A graphic concept depicting a young family and a mortgage application for a home. (Photo: AdobeStock)
A graphic concept depicting a young family and a mortgage application for a home. (Photo: AdobeStock)

The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey bounced back for the week ending May 3 after consecutive declines in late April.

PriorActual
Composite Index – W/W ∆-4.3%2.7%
Purchase Index – W/W ∆-4.0%4.0%
Refinance Index – W/W ∆-5.0%1.0%

The Composite Index rose 2.7% after slipping 4.3% the week prior. The Purchase Index gained a solid 4%, increasing the year-on-year growth rate from just 1% in the prior week to 5%. The Refinance Index, which fell throughout most of April, kicked off May with a a 1.0% gain.

“We saw a good week for the spring homebuying season, as a 5 percent increase in purchase applications – both weekly and year-over-year – drove the results,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “Average loan amounts also stayed elevated, with government purchase applications rising to the highest in the survey.”

“Even with slower price appreciation in higher-priced markets, home prices are still rising enough to push average loan sizes higher.”

The refinance share of mortgage activity fell to 37.9% of total applications from 38.8% the prior week. The adjustable-rate mortgage (ARM) share of activity rose to 6.4%.

The Federal Housing Administration (FHA) share remained unchanged at 9.5%, while the Veterans Affairs (VA) share rose slightly to 11.1% from 10.9%. The Department of Agriculture (USDA) share also remained unchanged at 0.6%.


The Mortgage Bankers Association's (MBA) Weekly Mortgage

Most Liberal, Frequently Overturned Court Hands Trump Administration a Win

An American flag flying behind barbed wire at the U.S. southern border with Mexico. (Photo: AdobeStock)
An American flag flying behind barbed wire at the U.S. southern border with Mexico. (Photo: AdobeStock)

The Ninth Circuit Court of Appeals upheld the Trump Administration’s “Remain in Mexico” policy late Tuesday, reversing a lower court. The ruling allows the administration to send asylum seekers back to Mexico while they wait for court proceedings.

“We are hesitant to disturb this compromise amid ongoing diploamtic negotiations between the United States and Mexico,” the court stated, adding “the public interest favors the ‘efficient administration’ of the immigration laws at the border.”

On April 8, U.S. District Judge Richard Seeborg ruled the policy should be halted while a lawsuit is ongoing. That suit was filed on behalf of 11 asylum seekers and various leftwing organizations, including the American Civil Liberties Union the Southern Poverty Law Center, and Center for Gender & Refugee Studies.

“Asylum seekers are being put at serious risk of harm every day that the forced return policy continues,” Omar Jadwat, director of the ACLU’s Immigrants’ Rights Project, said in a statement. “Notably, two of the three judges that heard this request found that there are serious legal problems with what the government is doing.”

The most liberal U.S. Court of Appeals has previously ruled against the Trump Administration on immigration, though later those rulings have overturned by the U.S. Supreme Court.

In the most high-profile case surrounding the executive order travel ban, the High Court ruled the president’s action “squarely within the scope of Presidential authority.” The Court made it clear they tire of reversing national injunctions issued by lower courts when the law so clearly favors the administration.

While this ruling is a temporary win for the White House, the lawsuit still will be heard on its merits in the lower court in San Francisco. They argue the Trump Administration is violating U.S. law by not adequately evaluating the dangers in Mexico.

Worth noting, most asylum claims are ultimately found to be bogus. Asylum is reserved for those being persecuted for religious beliefs or political affiliation, not for poor economic or living conditions. The Justice Department specifically prohibited fleeing gang violence as a valid reason for filing asylum claims last year.

Those currently seeking asylum after entering the U.S. illegally read from a prewritten script given to them by activist groups.

It will still likely be decided at the U.S. Supreme Court.

The Ninth Circuit Court of Appeals upheld

Interview With America’s History Teacher, Professor Larry Schweikart

Photo Courtesy of Wild World of History with America's History Teacher, Professor Larry Schweikart.
Photo Courtesy of Wild World of History with America’s History Teacher, Professor Larry Schweikart.

New York Times #1 bestselling author Larry Schweikart just released Reagan: The American President, sourced with previously unseen material. America’s History Teacher was the first and only biographer given full-fledged access to the 40th President’s Presidential Library.

PPD interviewed Schweikart to discuss his work on the man he calls the most important president of the 20th century, and his new website, Wild World of History.

“I’ve been pressured to do a curriculum for many years. But I just didn’t have the digital or marketing support to do it,” Schweikart said. “After I moved to Arizona, I met Scott Mitchell at Luke Logic and Kathy, and we finally had a team. It really came together.”

The website offers subscribers video lessons from his prior work Patriot’s History of the United States in curriculum form. Eventually, all 22 lessons will be available, and a course on President Reagan.

“I filmed the first half of the curriculum through reconstruction,” he said. “After June, they will film second half of the curriculum.”

Part 1 covers up to the Civil War and Reconstruction. Part 2 covers the American West to the 45th President of the United States, Donald Trump.

The second is scheduled to be available before August.

In the curriculum, Schweikart identifies the Four Pillars of American Exceptionalism. The first two alone make the United States of America different than any other nation in the history of the world.

  1. The United States of America was founded as a predominately Christian, mostly Protestant nation.
  2. Common law (bottom up).
  3. Private property with written property and deeds. Without written titles and deeds, you cannot build wealth.
  4. 1790s free market capitalism,

While researching competitors, he went to three home school conventions. He found the standard textbook, dry competition that isn’t particularly analytical.

“It’s totally lacking in the level of analysis that I provide that I think a lot of homeschoolers want to see,” he said. “There’s no other curriculum out there that promotes ‘America is exceptional because’ of these reasons.”

We asked for a few examples, and he gave us a taste of Part 1 and of what is to come in Part 2. Channeling Reagan, the lessons take a holistic approach to explaining how things were, and why they led to future events.

“You get that kind of deep analysis and yet it’s presented in an accessible manner,” he said.

Who Saved the Buffalo?

Take the chapter on the West. We have a section on the buffalo. The traditional version of history you hear in your grade school class is that the Native Americans lived in harmony with the buffalo until the white man nearly exterminated them.

Three studies came out in the early 2000s, all three of them about the Indians and the buffalo. All agreed given death rates the Indians were already hunting the buffalo to extinction. They didn’t use all the buffalo at one time. Blood for paint, bones for teepees. In fact, they’d kill an entire herd and only take the part they needed at the time. The way we know this is that there were countless missionaries, scouts, settlers would come up on fields of rotting buffalo. All found the Indians were hunting them to extinctions. When the whites showed up, they did accelerate it but often used all parts of the buffalo.

White philanthropists like JP Morgan are who saved the buffalo. Charles Goodnight captured calves and began raising them before donating to Wood Buffalo National Park, and the population grew. By 1900, there was more buffalo on private reserves being raised for meat than in government preserves.

Tell Us About the Three Streams that Converged (Counter Culture Without Vietnam)

Starting in 1961, a record number of baby boomers were entering colleges and met with a flood of federal money from Sputnik to fund science and math. But money in universities doesn’t stay where it’s put, which resulted in Liberal Arts funding. Leftwing (Marxist) professors were brought in as a backlash against McCarthyism in the late 1950s. All met the wave of money and students.

The counter-culture was occurring all throughout the world. Racial tensions were bubbling over completely unrelated as a side, unique to America. In the 1950s, paramount concerns were race relations, the atomic bomb, and a migration like never seen before. Americans saw society unraveling.

Yet the 1950s are portrayed as a period of stability.

Reagan Biography

In Reagan: The American President, Schweikart takes a new direction juxtaposed to previous biographers, developing the argument that Ronald Reagan was a holistic thinker.

“As inflation came down, it undercut gold sales for the Soviet Union,” he told PPD. “Look how it played out. What was keeping South African afloat? Gold sales. Western inflation from liberal governments propped them, postponed their decline.”

In the book, he also cites the 1981 sale of AWACS aircraft to Saudi Arabia, which historians have previously portrayed as the result of a balanced approach in the Middle East.

Schweikart argues the quid pro quo for the Saudis to cut prices and increase oil production was just one in a series of policy objectives that included “lowering prices for Americans thereby increasing economic productivity; reducing inflation and thereby strengthening American family purchasing power; and driving down the price of Russian oil, which in turn meant depriving the USSR of a major source of hard currency at the most critical time.”

“Other than perhaps Calvin Coolidge and Franklin D. Roosevelt, no other American president in the twentieth century had such scope to his thinking.”

Interview With America's History Teacher, Professor Larry

Man reading newspaper with the headline Job Market. (Photo: AdobeStock)
Man reading newspaper with the headline Job Market. (Photo: AdobeStock)

The Bureau of Labor Statistics (BLS) JOLTS report beat expectations, with the number of job openings rising to 7.5 million on the last business day of March. The consensus forecast was looking for 7.215 million.


Prior InitialPrior RevisedConsensus ForecastForecast RangeActual
Job Openings7.087M7.142M7.215M7.000 M — 7.240M7.488M

In March, hires and separations were little changed at 5.7 million and 5.4 million, respectively.

Within separations, the quits rate was unchanged at a low 2.3% and the layoffs and discharges rate was little changed at a solid 1.1%.

Job Openings

The number of job openings rose +346,000 on the last business day of March, and the job openings rate was 4.7%. Total private job openings rose (+363,000) and government fell slightly.

The largest increases in job openings by industry came in transportation, warehousing, and utilities (+87,000), construction (+73,000), and real estate and rental and leasing (+57,000). The number of job openings decreased in federal government (-15,000).

The number of job openings was little changed in all four regions.

Hires

The number of hires was little changed at 5.7 million in March. The hires rate was 3.8 percent. The
hires level was little changed for total private and for government. The number of hires was little
changed in all industries and in all four regions.

Separations

Total separations — including quits, layoffs and discharges, and other separations — is referred to as labor turnover.

The number of total separations was little changed at 5.4 million in March and the total separations rate was 3.6%. The number of total separations was essentially unchanged in all industries and regions for the private sector. It declined for government (-37,000).

The number of quits was little changed in March at 3.4 million and the quits rate was 2.3%. Quits increased in real estate and rental and leasing (+15,000) but declined in construction (-38,000), which could prove positive for a new housing market signaling a potential comeback.

The number of quits rose in the Northeast but fell in the South.

The number of layoffs and discharges was 1.7 million and the layoffs and discharges rate was 1.1%, little changed in all four regions. The layoffs and discharges level was little changed for total private but down for government (-29,000), including state and local government education (-18,000).

Net Change in Employment

In April, the Employment Situation report found the U.S. unemployment rate fell to a 49-year low at 3.6%. Unemployment for Hispanics fell to a new all-time low.

Employment rises when the number of hires exceeds the number of separations. That’s true even if the hires level is steady or declining. On the flip side, employment declines when the number of hires is less than the number of separations, even if the hires level is steady or rising.

Over the 12 months ending in March, hires totaled 69.3 million and separations totaled 66.6 million, a net employment gain of 2.7 million. Totals include workers who may have been hired and separated more than once during the year.

Man reading newspaper with the headline Job

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