According to ADP and Moody’s, the economy added 275,000 new jobs in April, once again confounding those pessimistic forecasters.
As recently as March, many were saying that the U.S. economy for all intents and purposes had stalled in the first quarter of 2019, but the U.S. economy grew at an annualized rate of 3.2 percent in the first quarter of 2019.
Initial claims for unemployment insurance are the lowest seen since 1969, when the U.S. workforce was half the size that it is now. Raising the federal minimum wage, however, would put more people out of work.
It has taken two years to return the economy to full throttle, and its beneficiaries are now settling in for the rest of the trip.
Retail businesses lead all sectors in job cuts; 41,201 employees have lost jobs through February — 92 percent higher than the 21,484 job cuts made through February 2018.
When it comes to the beef industry — and the pork industry — USMCA is just NAFTA re-branded, and NAFTA was disastrous to the U.S. cattle industry.
Once again, economic forecasters are embarrassed. The economy is not enjoying a temporary “sugar high” from Trump’s tax reform, but is just beginning to feel its impact.
The U.S. Treasury announced on Friday that the federal government has spent $1.8 trillion since October 1, while tax receipts were only $1.3 trillion. According to Modern Monetary Theory, this is just fine.
Newark Mayor Ras Baraka announced plans to create a commission to study the concept of a “universal” income plan to help the more than one quarter of the city’s population living in poverty.
Many CEOs are making millions per year, and socialist/progressives such as Alexandria Ocasio-Cortez and Bernie Sanders criticize that fact, despite their sparse, largely failing histories in the business world.
Two measures of the U.S. economy were reported on Wednesday, both of which exceeded forecasters’ expectations.