Ford Motor Company confirmed Thursday their decision to invest $1 billion in two Chicago-area factories; creating hundreds of new jobs throughout the region.
“Ford Motor Company announced Thursday it will invest $1 billion at two Chicago factories to handle production of three new SUVs,” writes the Hill “The expansion will result in 500 new full-time jobs, bringing total employment at the factories on the city’s southeast side to 5,800.”
“The transformation at the plant, which will begin in March, will expand capacity for the production of the all-new Ford Explorer – including the Explorer ST and Explorer Hybrid – the all-new Police Interceptor Utility and the all-new Lincoln Aviator,” said a press release from the auto manufacturer.
“Ford’s announcement of 500 additional jobs and over $1 billion in plant investments is a testament to the quality and hard work of UAW Ford members,” said Rory Gamble, Vice President of the UAW Ford Department.
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: 10-Year Economic Optimism SURGES, 71% Forecast Long-Term Gains
A new financial report from UBS released this week shows long-term economic optimism jumping to 71%, with investors and insiders saying the US recovery will likely continue over the next decade.
“Long-term investor optimism is up, with more than seven-in-10 calling the economy’s fundamentals “strong,” according to a new investor and business survey,” writes the Washington Examiner. “The latest UBS Investor Watch Pulse Poll found that 71 percent are more optimistic about the 10-year economic outlook than they were just two months ago when it was still a high 68 percent.”
“The poll was the first to take the pulse of investors and business amid the government shutdown, which has prompted the administration to cut back on the size of it’s delegation to the World Economic Forum in Davos, Switzerland,” adds the report.
Read the full survey from UBS here.