As more and more Americans head back to work after the recently passed GOP-sponsored tax cuts, tens of millions traveled during the annual spring break recess; smashing expectations and setting record highs.
The Transportation Security Administration released the stunning new data Monday; highlighting the strong US economy and low unemployment throughout the country.
According to the report, over 70 million Americans took to the friendly skies between March 15 and April 15, a 5% spike from the same period last year.
“AAA travel agents report a strong interest in travel last year and into the beginning part of this year, thanks to a strong economy and growing consumer confidence,” said a spokesperson for the nationwide travel agency.
“Now a dark cloud is rising on the horizon, higher prices at the pump. Yet it seems that more expensive gas prices have not kept travelers home so far this year,” they added.
“Travelers are taking to the skies this spring in record numbers, thanks to persistently low fares, unsurpassed levels of investment in the product, increasing competition, and unprecedented access for passengers of all regions, age groups, and income levels,” said the Vice President of Airlines for America.
ARMAGEDDON? US Economy to GROW 5.4% in FIRST QUARTER
The American economy continues to roar under President Trump and the GOP-controlled Congress, with federal trackers and analysts predicting an unprecedented 5.4% GDP growth in the first quarter of 2018.
The shocking numbers show the US economy rebounding after years of stagnating wages and low-growth GDP in the wake of the “Great Recession” under former President Barack Obama.
“The economy is on track to put up blockbuster growth numbers in the first quarter, according to the latest forecast from the Atlanta Fed,” writes CNBC. “GDP is expected to surge 5.4 percent to start 2018, the central bank branch estimated in its latest rolling look at how the economy is progressing.”
In other signs of progress, consumer spending surged from 3.1% to 4% following the passage of the GOP tax cuts and jobless claims continue to hover around “generational lows” with unemployment at just 4.1%.
President Trump touted the economic success story during his State of the Union address Tuesday night; applauding companies and corporations for raising wages, expanding benefits, and paying big bonuses after he signed the sweeping tax overhaul into law.
US Economy SMASHES ESTIMATES, Adds 230K Jobs
The United States economy added approximately 228,000 jobs in November alone; slashing the unemployment rate to just 4.1 percent and busting expectations that predicted payrolls to grow by 200,000.
According to CNBC, average hourly earnings also rose by 0.2 percent in the same month; resulting in 2.5 percent growth in 2017.
“The November employment data is largely as expected. For an expansion that began in mid-2009, no negative surprises are welcome,” said a senior economic analyst at Bankrate.com. “The lingering impacts of recent hurricanes and flooding have reverted back to relative calm in the statistics, meaning that this is a ‘cleaner’ number.”
Surprisingly, the second largest gains were seen in the manufacturing sector; adding 31,000 jobs in the industry. The economy saw a total in goods-producing occupations tick upwards to 62,000.
Construction also saw steep gains, adding 24,000 jobs –most of which were in “specialty trade” contracts.
“With continued improvement in the labor market, room for continued upward trajectory in 2018 is likely limited because there’s not much slack left to hire workers for further growth,” said one economist.