Heard during my commute that ~130K new jobs were added, and unemployment dropped to 3.5%. 130K would have been terrible during the Obama Stagnancy, but in the context of 3.5% UE, it's probably fairly good. Back when I took Macroeconomics in college it was taught that 4%-5% UE was basically full employment, due to ordinary life stuff happening in the workforce. 3.5% UE is below that and means that employers are taking on marginal workers and working around their issues and limitations. It also means that many blacks and Hispanics who statistically have been disadvantaged where work (= union) rules placed priority on seniority are accumulating the necessary seniority to keep their jobs when an economic slowdown comes. IOW, Trump is not only benefiting blacks and Hispanics right now, but the beneficial effects of his Presidency in those communities are likely to be persistent.