The American economy continued to soar under President Trump in December; with job growth surging by 312,000 nonfarm payroll positions and averages wages rising a stunning 3.2% from the same period last year.
According to CNBC, “Job creation ended 2018 on a powerful note, with nonfarm payrolls surging by 312,000 in December.”
“In addition to the big job gains, wages jumped 3.2 percent from a year ago and 0.4 percent over the previous month. The year-over-year increase is tied with October for the best since April 2009. The average work week rose 0.1 hour to 34.5 hours,” adds the article.
The strong economic data comes just one day after Democrats took control of the House of Representatives, where Speaker Pelosi has routinely vowed to repeal the GOP-sponsored tax cuts and introduce new regulations on banks and US businesses.
Read the full report here.
GREAT AGAIN: 230K+ Jobs in September, Possible 3% Unemployment in 2019
The United States economic recovery continued to soar under President Trump and the Republican-controlled Congress in September, with new data showing the “rip-roaring” job market gained 230,000 full-time positions.
According to CNBC, private payroll estimates rose by 230,000 last month; beating expectations that predicted 185,000 new jobs.
“Private companies added 230,000 more positions for the month, the best level since the 241,000 jobs added in February and well ahead of the 168,000 jobs added in August,” writes CNBC.
“This labor market is rip-roaring hot,” said a senior economist at Moody’s Analytics.
“If the current pace continues, Zandi said he expects the unemployment rate to fall near 3 percent over the next year. The headline jobless rate currently is at 3.9 percent,” adds the author.
The strong economic report raises serious concerns for Democrats just weeks ahead of the 2018 midterm elections. House Minority Leader Nancy Pelosi has repeatedly vowed to repeal the widely-popular ‘GOP Tax Scam’ should her party retake control of Congress this fall.
Read the full story at CNBC.
GREAT AGAIN: American Jobless Claims PLUMMET to 45 YEAR LOW
The US economy continues to soar under President Trump and the Republican-controlled Congress, with jobless claims dropping to just 221,000 in the first days of February; the lowest figures seen since March of 1973.
The 45-year-low signals the American recovery is in full-swing following years of low GDP growth and stagnant wages. Economists cite the recent gains as a direct result of a strong job growth and the President’s recently signed overhaul of the nation’s overly complicated tax system.
According to MarketWatch, the stunning numbers are a result of “big declines” in unemployment claims in Missouri, California, and New York; a result of 200,000 new private payroll jobs in January and an unemployment rate hovering at just 4.1%.
“Even better, the long-awaited uptick in worker wages might be in the offing. The yearly increase in hourly pay rose to a nine-year high of 2.9%,” MarketWatch adds.
The rosy economic outlook comes as major American corporations -such as AT&T, Walmart, Disney, Starbucks, American Airlines, Home Depot, FedEx, UPS, Visa, and others- announced their plans to raise wages, expand benefits, and pay out big bonuses in the wake of the GOP-led tax cuts late last-year.