Wages and salaries rose at a record-breaking pace under President Trump and the GOP-controlled Congress in 2018; ticking up a staggering 3.1% and seeing the largest gains in over a decade.
“On a yearly basis, wages and salaries jumped 3.1 percent, the biggest increase in 10 years,” writes CNBC. “Wage increases have been the missing link in the economy since the recovery began in mid-2008. Average hourly earnings have been rising steadily but have stayed below the 3 percent level as slack has remained in the labor market.”
The unemployment rate remained at 3.7% in the third quarter of 2018; the lowest level since 1969.
The strong economic data comes less than one week before American voters head to the polls to decide the future direction of the country.
House Minority Leader Nancy Pelosi has repeatedly vowed to repeal the “GOP Tax Scam” should her party retake control of Congress on Election Day.
Read the full report at CNBC.
AMERICA UNLEASHED: Food Stamp Enrollment DOWN 2.8 MILLION Under Trump
The US economy continued to roar to life in July under President Trump and the GOP-controlled Congress, with new data showing nearly three million Americans have left the nation’s food stamp program since the President’s inauguration in January 2017.
According to the new statistics released by the Department of Agriculture, over 2.8 million people dropped the program since Trump took office; fulfilling a signature campaign promise to boost Obama’s stagnant recovery.
Millions drop off of ‘SNAP’ under Trump pic.twitter.com/CAjXVgtzTA
— Fox News (@FoxNews) August 6, 2018
The strong economic data -coupled with 4.1% growth in GDP in the second quarter of 2018- may spell disaster for Democrats heading into the midterm elections; with House Minority Leader Nancy Pelosi pledging to “repeal” the widely popular “GOP tax scam.”
AMERICA UNLEASHED: GDP GROWTH Tops 4.1% in SECOND QUARTER
The US economy continued to roar to life in the second quarter of 2018 with GDP growth topping a whopping 4.1%; signaling a robust recovery under President Trump and the GOP-controlled Congress.
According to CNBC, Gross Domestic Product posted its largest gains in over four years on the back of strong consumer confidence and record-breaking business growth and optimism following the Republican-sponsored tax cuts.
“That’s the fastest rate of the growth since the 4.9 percent in the third quarter of 2014 and the third-best growth rate since the Great Recession. In addition to the strong second quarter, the Commerce Department revised its first-quarter reading up from 2 percent to 2.2 percent,” writes CNBC.
“We’re on track to hit the highest annual growth rate in over 13 years,” said the President. “And I will say this right now and I will say it strongly, as the deals come in one by one, we’re going to go a lot higher than these numbers, and these are great numbers.”
Read the full report here.