The number of Americans employed in a full-time position smashed records in June, with over 155 million taking part in the work force as the US economy continues to soar under President Trump and the GOP-controlled Congress.
According to CNS News, there are currently 155,576,000 Americans taking part in the US labor force; the highest number on record.
“On Friday, the Labor Department’s Bureau of Labor Statistics said the economy added 213,000 jobs in June, a strong number; the number of employed Americans, 155,576,000, set its tenth record of the Trump presidency,” writes CNS.
“A lower labor force participation rate is associated with lower gross domestic product and lower tax revenues. It is also associated with larger federal outlays, because people who are not in the labor force are more likely to enroll in certain federal benefit programs,” adds the Congressional Budget Office.
Read the full report here.
GREAT AGAIN: GDP to Hit 5.3% THIS SPRING, Reach 15 YEAR HIGH
A handful of Wall Street insiders and leading economists are revising their GDP predictions upwards for spring 2019; saying the US economy may grow by an astounding 5% in the coming months.
According to Market Watch, forecasts for next year are being revised after a string of healthy tax returns, repatriated currency, and record low unemployment in the second quarter of 2018; possibly reaching a 15 year high this spring.
“Most notably, Macroeconomic Advisers raised its forecast to 5.3% from 4.5% for gross domestic product, the official scorecard for the U.S. economy. The firm’s forecast is one of the most detailed on Wall Street,” writes Market Watch.
The last time the Gross Domestic Product smashed the 5% mark was in 2003.
Read the full report here.
GREAT AGAIN: Goldman Sachs CEO THANKS TRUMP for US Recovery, Slams Hillary
Goldman Sachs CEO Lloyd Blankfein openly thanked President Trump for his strong leadership on the US recovery Friday, saying the “economy is higher” as a direct result of Donald Trump winning the White House in 2016, reports Yahoo News.
Blankfein was speaking with CNNMoney when he publicly praised the President’s policies -such as slashing red tape, lowering taxes, and promoting American businesses on the global stage- as helping the US recovery; adding things would be far worse had Hillary Clinton won the presidential election.
“If the president didn’t win and Hillary Clinton won … I bet you the economy is higher today than it otherwise would be,” said the CEO.
“I think one of the reasons why the election had such a dramatic effect is because it was drawing people in the direction that it was already heading,” he told world leaders at the Davos forum in Switzerland weeks ago.
Blankfein’s comments come as the US economy continues to roar back to life under President Trump’s leadership; with millions of families receiving higher wages, big bonuses, and expanded benefits after the recently passed GOP tax cuts.