The American economy roared to life under President Trump and the Republican-controlled Senate in April; posting major gains last month as private payrolls “surged” by over 275,000 new jobs across the country.
“The U.S. economy added far more jobs than expected in April as payrolls in the services sector grew by the most in more than two years,” reports CNBC. “Private payrolls grew by 275,000 last month, the biggest increase since July, when they expanded by 284,000. Economists polled by Dow Jones expected private payrolls growth of 177,000.”
“The job market is holding firm, as businesses work hard to fill open positions,” said a leading economist at Moody’s Analytics. “The economic soft patch at the start of the year has not materially impacted hiring. April’s job gains overstate the economy’s strength, but they make the case that expansion continues on.”
Read the full report here.
USA UNLEASHED: America Now Has ‘More Millionaires' than Sweden's Entire Population
A new report from Bloomberg published Thursday reveals the United States now has more millionaire residents than people living in Sweden; breaking another record under President Trump and showing more signs of strong economic growth.
“The number of wealthy households in the U.S. reached a new high last year, roughly equivalent to the entire population of Sweden or Portugal,” reports Bloomberg.
“More than 10.2 million households had a net worth of $1 million to $5 million, not including the value of their primary residence, according to a survey by the Spectrem Group. That’s up 2.5 percent from 2017,” adds the report.
According to the survey, America’s high-income households -those with assets worth $5 million and above- have more than doubled since the economic crash of 2008.
Read the full report at Bloomberg.
USA UNLEASHED: America Now ‘Pumping More Oil’ than Saudi Arabia, Russia
The United States energy industry continued to expand under President Trump in recent weeks; smashing records and now “pumping more oil” than Russia and Saudi Arabia.
According to CNBC, the United States now generates more than 11.6 million barrels of oil per day; prompting members of OPEC to consider serious reductions in production to ease pricing pressures.
“U.S. oil production jumped to a record 11.6 million barrels a day last week, and rising U.S. output is a factor that could prompt OPEC members and allies to react when they meet over the weekend,” writes CNBC.
The increase in output has caused oil prices to “crater” in recent weeks.
“US crude oil production was recorded at a new record high, and the largest in the world by far, moving ahead of Russia and closer to the level Saudi Arabia might be able to reach in another six months,” added one energy insider.
Read the full report at CNBC.