The United States’ economic recovery continued under President Trump and the GOP-controlled Congress in September, with new data showing Florida, Texas, and Ohio had record-breaking job gains in recent months.
According to CNS News, Florida and Texas led the country in non-farm jobs from September 2017 to September 2018 and Ohio posted its largest job increase in over 21 years.
“Ohio and Pennsylvania—sometimes considered part of the nation’s ‘Rust Belt’—also saw significant job gains from September 2017 to September 2018, with Ohio showing the largest increase for its state in 21 years and Pennsylvania showing the largest increase in 18 years,” writes CNS.
“Thirty-seven states had over-the-year increases in non-farm payroll employment in September,” added the Bureau of Labor Statistics.
The strong economic data comes just two weeks away from the highly-anticipated 2018 midterm elections, with House Minority Leader Nancy Pelosi vowing to repeal the “GOP Tax Scam” should her party retake control of Congress.
Read the full report here.
GREAT AGAIN: GDP Estimates SOAR TO 4.8% in SECOND QUARTER
The US economy continues to roar to life under President Trump and the GOP-controlled Congress, with the Atlanta Federal Reserve raising the economic estimates for the second quarter of 2018 up to a staggering 4.8%.
According to Reuters, the US Gross Domestic Product is growing at an annualized rate of nearly 5%, citing strong domestic sales numbers and record-setting exports after months of continued growth.
“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 4.8 percent on June 14, up from 4.6 percent on June 8,” says a new report from the Federal Reserve Bank of Atlanta.
The staggering statistics come on the heels of record breaking tax revenue and an inverted job index for the first time in US history, where there are more jobs available than workers to fill them.
GREAT AGAIN: Fed RAISES 2018 Economic Outlook, HIKES Interest Rates
The federal government drastically upgraded its forecasted 2018 economic outlook Wednesday, saying the US economy was rising at a “solid” rate; an increase from its previous prediction of “moderate” growth.
According to CNBC, the Reserve released new data this week showing the GDP forecast rose to nearly 3%, up from the previous predictions of 2.7%.
“Economic activity has been rising at a ‘solid’ rate, the Fed’s statement said, marking an upgrade from ‘moderate’ in the previous statement. The central bank raised its benchmark short-term interest rate a quarter of a percentage point on Wednesday, and indicated two more hikes will likely come this year,” writes CNBC.
The strong economic data comes just hours after the US Treasury confirmed it had taken in a record-smashing tax haul in the first fiscal months of 2018; breaking previous highs by $50 billion in personal income tax.
Read the full report at CNBC.