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U.S. Creates 304,000 Jobs in January, Smashing Estimates – Ivanka Stoked For America

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Making America Great Again… One job at a time.

January was one red hot job creation machine. The American economy added 304,000 jobs in the month of January. The unemployment rate ticked up to 4.0 percent, the government announced Friday.

Economists had expected 158,000 nonfarm payroll growth and the unemployment rate to hold steady at 3.9 percent.

December was revised down from the originally reported 312,000 to 222,000. That’s a very large revision. November’s report, which was originally reported at a very weak 155,000 and revised up to 176,000, was again revised to 196,000.

The manufacturing sector added 13,000 jobs in January, making its 12-month total 261,000. That was slightly lower than the 15,000 that economists had forecast but still evidence of healthy growth.

Jobs growth was widespread across the economy with significant jobs gains in leisure & hospitality (74,000), education & health services (55,000), construction (52,000), transportation & warehousing (27,000), and mining & logging (7,000). The only major sector to shed jobs was information services such as media and entertainment… Gee, I wonder why.

Even though the unemployment rate was elevated in January due to the government shutdown, it remained at a historically impressive 4 percent – the 11th consecutive month at or below 4 percent.

Read full story via Breitbart

President Trump’s Policies Keep Economic Boom Going As Job Gains of 304,000 Surpass Expectations

The White House Gov reported:

The Bureau of Labor Statistics (BLS) released its first monthly Employment Situation Report of 2019, showing that the United States economy is continuing its historic streak of positive job gains in the new year.

Total nonfarm payroll employment rose by 304,000 jobs in January, far surpassing market expectations (165,000) and above the prior 12-month average gain (223,000). January 2019 marks the 100th straight month of positive job growth and the 16th consecutive month of employment growth of at least 100,000 new jobs. Job gains in December were revised down by 90,000 and November jobs were revised up by 20,000 for a cumulative loss to total employment of 70,000 jobs in the previous months. Nevertheless, despite these downward revisions, the 223,000 average monthly jobs created in 2018 remains well above the pace of monthly job creation in 2016 (193,000) and 2017 (179,000).

Numerous sectors experienced job growth in January, including mining and logging (7,000), transportation and warehousing (27,000), construction (52,000), education and health services (55,000), and leisure and hospitality (74,000). The economy has added 4.9 million jobs since January 2017 and 5.3 million jobs since President Donald J. Trump was elected in November 2016.

The report also indicates that wages are continuing to rise. Nominal average hourly earnings rose by 3.2 percent over the past 12 months, marking the 6th straight month that year-over-year wage gains were at or above 3 percent. Prior to 2018, nominal average hourly wage gains had not reached 3 percent since April 2009. Taking inflation into account, real wages are also growing. Based on the most recent Personal Consumption Expenditures (PCE) price index data from November, inflation in the past year was 1.8 percent, and based on the most recent Consumer Price Index (CPI-U) price data from December, the inflation in the past year was 1.9 percent (the most recently available data).

A separate household survey released by BLS shows that the unemployment rate ticked up by 0.1 percentage point (p.p.) to 4.0 percent in January—but still represents the 11th consecutive month at or below 4 percent. Additionally, the labor force participation rate for prime-age adults (ages 25-54) increased by 0.3 percentage points to 82.6 percent. The last time it was this high was April 2010. Though the unemployment rate edged up, this is largely explained by the 2018-19 partial government shutdown and would otherwise have likely remained unchanged.
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Isn’t it ironic? The good news for America is always bad news for the Democrats.

Look at all President Trump has accomplished. This is the difference between a lifelong businessman and a “community organizer” who did nothing in his 8 years in office. The left hates President Trump because actually cares about the American people.

We have a President that is actually accomplishing things and getting America back on track.

Even his daughter is praising the economy. Thank God for her dad!

 

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As Wealthy Flee New York, Cuomo Warns Budget Problems ‘Serious as a Heart Attack’

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The wealthy have been fleeing the socialist policies of New York for some time now. The flight of those who have money is speeding up however just as New York Governor Andrew Cuomo is warning of budget problems. He announced Monday that state income tax revenues plummeted by $2.8 billion since he introduced his new budget plan last month which means spending will have to be massively cut in the state. He says he needs to reconsider spending on schools, healthcare, and repairs to roads and bridges.

Instead of taking stock of his failing fiscal policies, Cuomo, of course, blamed President Trump’s new tax plan for the state’s problems. In actuality, it is high taxes on everything that is choking the life out of New York and businesses there. Socialists are great at giving stuff away until they run out of other people’s money… that would be the wealthy fleeing the state.

From Newsday:

“Gov. Andrew M. Cuomo on Monday announced a dramatic drop in state income tax revenue of $2.8 billion, which he says will prompt him to revise his 2019-20 budget and reconsider spending on schools, health care and repairs to roads and bridges.

“Cuomo, a Democrat, blamed the shortfall on a federal tax plan backed by Republican President Donald Trump. Cuomo said the law’s cap on deductions for state and local taxes at $10,000 was to blame and suggested it is, anecdotally, triggering high-earners to leave New York.

“At this point there is no doubt that the budget we put forward is not supported by the revenues,” Cuomo said at a State Capitol news conference. “It’s as serious as a heart attack.”

“Cuomo said he’s not certain what areas might need to be cut, but said the biggest spending areas now are education, health care, infrastructure and another phase-in of a previously approved middle-class tax cut.

“I fear it’s going to get worse before it gets better,” state Comptroller Thomas DiNapoli said in a rare news conference with Cuomo. “It’s not all gloom and doom, but it’s a matter of very, very serious concern.” Tax revenues could rebound, he said, but he agreed with Cuomo that early indicators are not good.

“Cuomo has until mid-February to submit amendments to his budget, which came in at $175.2 billion when he unveiled it Jan. 15.

“The announcement also serves notice to the legislature, which for the first time in most of a half-century is controlled by Democrats.

“The Democratic majorities in the Senate and Assembly have several proposals to add to the budget. Cuomo will no longer have Senate Republicans as an ally for fiscally conservative measures. The Republicans lost the majority in the November elections.”

New York’s revenue problems can’t be blamed on Trump. I don’t blame those who are successful for hightailing it out of New York. They get to keep a pittance of their hard-earned income. Between state, city, and federal taxation there’s not much left when these thieves are done. Note to Cuomo… those wealthy you are fleecing are the ones that actually work and pay taxes.

Cutting taxes and enticing business to the state is the way to go, but liberals can’t seem to wrap their heads around the concept. In fact, you have Marxists such as NY Rep. Alexandria Ocasio-Cortez and others in the Democratic Party who want to raise the top tax rate to a whopping 70% or more. They want to do away with billionaires too. Talk about biting the hand that feeds you.

It’s a good thing Cuomo will never be elected president. He would turn all of America into New York. As The Federalist put it, “Not since John F. Kennedy was President has there been a Democrat that understood lower taxes on the wealthy helps the poor.” And that certainly includes Cuomo.

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Amazon Cancels Plan For New York City Headquarters & 25k Jobs Because Of Ocasio

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This is not a good day for New York and the good citizens there can thank their liberal tax and spend elitist leaders for their misery. That includes Democratic Socialist Rep. Alexandria Ocasio-Cortez (D-NY) and New York Governor Andrew Cuomo. You could say that Jeff Bezos and Cuomo lose and Trump wins once again. That makes me smile.

Fresh off Cuomo making a pilgrimage to the White House to beg President Trump for money and then being told to frack off, another blow just landed to a state that suddenly has a deficit of $2.3 billion in their budget. This won’t help that. Amazon has canceled its plans to build its second headquarters in New York City.

After Ocasio-Cortez whined over the job-maker coming to New York, Bezos decided he had had enough of the socialists. At least for now. He seems rather bent that way himself. Bezos not only owns Amazon.com… he owns the fact-challenged Washington Post. He’s also in the middle of the world’s most expensive divorce.

“After much thought and deliberation, we’ve decided not to move forward with our plans to build a headquarters for Amazon in Long Island City, Queens,” the Seattle-based Amazon said in the release.

“For Amazon, the commitment to build a new headquarters requires positive, collaborative relationships with state and local elected officials who will be supportive over the long-term. While polls show that 70% of New Yorkers support our plans and investment, a number of state and local politicians have made it clear that they oppose our presence and will not work with us to build the type of relationships that are required to go forward with the project we and many others envisioned in Long Island City,” the statement reads.

What you don’t read there is it is also a tax and regulation issue. New York has been remade into a hostile business environment by leftists. This is the result of that. The company added that it is “disappointed to have reached this conclusion.” I’m sure they are… now they’ll be forced to set up shop in a less-progressive location. Bummer.

“We are deeply grateful to Governor Cuomo, Mayor de Blasio, and their staffs, who so enthusiastically and graciously invited us to build in New York City and supported us during the process,” the company continued in the statement. I wonder if some harsh words are being thrown at Ocasio-Cortez right now.

From Fox News:

“Bankrate.com’s senior economic analyst Mark Hamrick called it a “stunning development,” adding: “For those who didn’t want Amazon to bring the promised 25,000 new jobs and added economic vitality to the area: Be careful what you wish for.”

“Earlier this month, reports surfaced that Amazon was reconsidering its plans for its New York office, which led to cheers from Ocasio-Cortez. “Can everyday people come together and effectively organize against creeping overreach of one of the world’s biggest corporations? Yes, they can,” the freshman lawmaker tweeted.

“Ocasio-Cortez has also slammed the company for having bias in its facial recognition technology.

“Fox News has reached out to Governor Cuomo, Mayor de Blasio and Congresswoman Ocasio-Cortez’s office for comment.

“Amazon said it would proceed as planned with the second part of its HQ2, which will be built in Northern Virginia, as well as its distribution center that it said it would open in Nashville. It will also continue to “hire and grow across our 17 corporate offices and tech hubs in the U.S. and Canada.”

“The deal was greeted with much fanfare when it was announced last year and was lauded as a major economic boost.

“New York Gov. Andrew Cuomo and New York City Mayor Bill de Blasio had touted the benefits of Amazon’s HQ2, which included a pledge from the tech giant to create 25,000 jobs, paying an average of $150,000 per year in exchange for a slew of city and state tax breaks and subsidies worth up to $3 billion.

“In addition to the 25,000 jobs, Amazon would’ve brought $2.5 billion in Amazon investment and eventually 8 million square feet of office space to Long Island City as part of its investment announced last November. The Seattle-based company said it would have generated “incremental tax revenue of more than $10 billion over the next 20 years as a result of Amazon’s investment and job creation.”‘

A recent poll showed that 57 percent of New Yorkers welcomed Amazon and the jobs it would bring. So much for socialists supporting the working man.

And while there are those that dithered over what Amazon’s decision could do to already rising real estate prices in the area, Hamrick said this won’t solve those problems.

“From a broader view, this decision will do nothing to resolve the challenges associated with housing affordability voiced by critics of the Amazon decision and the generous tax incentives offered by government,” Hamrick said in comments obtained by Fox News. “That requires a bigger conversation which could very well unfold along with the 2020 election cycle.”

One thing is certain, less business means fewer jobs, which means less money rolling into New York’s coffers. This is what happens when you let socialists run your state like a bunch of free-range chickens.

Sources: Fox News, Red State

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