U.S. employers add robust 304,000 jobs
February 1, 2019
U.S. employers shrugged off last month’s partial government shutdown and engaged in a burst of hiring in January, adding 304,000 jobs, the most in nearly a year.
The strong job market is also encouraging more people who weren’t working to begin looking. The proportion of Americans who either have a job or are seeking one — which had been unusually low since the recession ended a decade ago — reached 63.2 percent in January, the highest level in more than five years.
2018 Was The Year Of The Turnaround
By Sen. David Perdue (R-GA)
America is experiencing the greatest economic turnaround in U.S. history. Two weeks after President Donald Trump was inaugurated, I was in a small meeting in the Oval Office to establish the agenda for 2017 and 2018. He said that job one was to grow the economy, and he laid out a plan to focus on regulations, energy, taxes and Dodd-Frank. President Trump’s agenda is working.
When I ran for the U.S. Senate in 2014, I talked about how $6 trillion was not at work in our economy. By rolling back regulations, undoing the most onerous parts of Dodd-Frank and changing the tax code to end the archaic repatriation tax, we’ve begun freeing up that $6 trillion to work in our economy. Look at the results.
More than 4 million new jobs have been created. Middle-class income is the highest it’s ever been. Total unemployment is at a 50-year low. African-American unemployment is the lowest ever recorded. More than 1,500 bureaucrats have been fired at the VA for poor performance. Consumer confidence is at a 20-year high. Small business optimism is at a 35-year high.
President Trump promised to be there for farmers in Georgia and around the country. In December, we got a good Farm Bill across the finish line.
The U.S. Senate has taken action to fill judicial vacancies. Eighty-five federal judges have been confirmed. Nearly one out of every six circuit court judges was nominated by President Trump.
President Trump has been successful in getting European nations to commit to paying more for NATO. We’ve begun rebuilding our military. We are closer to a level playing field for American workers and businesses because of new trade deals with South Korea and Canada and Mexico. We have brought China to the trade table and are working toward zero tariffs with the European Union. We have rebuilt relationships with important allies.
After years of disinvestment, President Trump had to rebuild our military and get our readiness going again. Georgia is playing a major role in this effort. Robins Air Force Base has been named the home of the Air Force’s Advanced Battle Management System. The Army’s Cyber Command and Cyber School of Excellence continue to build their capability in Augusta. Production of the Columbia Class submarines that are coming soon to Kings Bay has been boosted.
Georgia is also seeing the results of the economic turnaround. Household income in Georgia grew by 4.3 percent in 2017. The population of Georgians living below the poverty line is the lowest it’s been since 2006. Unemployment claims in Georgia fell by 17 percent in 2017 and are the lowest they’ve been in 44 years.
These are the results of policies that boost private sector job creation and grow the economy, not government. Thanks to 16 years of leadership under Govs. Sonny Perdue and Nathan Deal, Georgia has been named the best state in the country in which to do business for six straight years. Just as I worked with Gov. Deal, I am already working with Gov.-elect Brian Kemp to ensure Georgia remains the best state in the country in which to do business.
There’s much more work to do. Health care, immigration and infrastructure are at the top of the president’s agenda for this year.
Unfortunately, Democrats have shown they will do whatever it takes to obstruct this president’s agenda, including shutting down the government. Political self-interest cannot continue to come before the national interest. We must break through the gridlock in order to deal with the big issues, including the $21 trillion debt crisis. This year’s economic growth is the first step toward tackling this debt. Now it’s time for action to change Washington’s broken budget process, cut redundant agencies, save Social Security and Medicare, and get after spiraling health care costs. Each of these is critical to dealing with the debt over the long-term.
The results of 2018 are not just Republican talking points. They are American accomplishments, some of which were done with bipartisan support. In 2019, we have to keep up the momentum. At the federal level, the key question in 2019 will be whether House Democrats will work with the president to legislate, or will they yield to political self-interest and only investigate?
US employers added a stellar 312,000 jobs in December
January 4, 2019
U.S. employers dramatically stepped up their hiring in December, adding 312,000 jobs in an encouraging display of strength for an economy in the midst of a trade war, slowing global growth and a partial shutdown of the federal government.
The Labor Department said Friday that the unemployment rate rose slightly to 3.9 percent, but that reflected a surge in jobseekers— a positive for growth.
Average hourly pay improved 3.2 percent from a year ago.
The health care, food services, construction and manufacturing sectors were the primary contributors to last month’s hiring.
Read more in Associated Press.
MAGA list: 205 ‘historic results’ help Trump make case for 2020 re-election
By Paul Bedard, Washington Examiner
December 31, 2018
At two years into his first term, President Trump and his top White House team are turning to the 2020 re-election campaign with a new focus on the 2016 promises they have kept and the impact they have had around the country and on the world stage.
“Together, we are building a safe, strong, and proud America,” said Trump in his new list of “historic results,” provided exclusively to Washington Secrets.
The Trump Results List
IGNITING A HISTORIC ECONOMIC BOOM: President Trump’s pro-growth policies are unleashing economic growth and providing opportunities to workers across the country.
- Due to President Trump’s pro-growth policies, real gross domestic product (GDP) growth exceeded 3 percent over the last four quarters.
- Real GDP grew at annual rates of 3.5 percent in the third quarter of 2018 and 4.2 percent in the second quarter.
- More than 4.6 million jobs have been created since President Trump’s election and the unemployment rate remains at 3.7 percent, the lowest rate in nearly 50 years.
Read more in The Washington Examiner.
Companies Added Way More Jobs Than Expected In December
By Jeff Cox, CNBC
January 3, 2019
Companies added 271,000 new positions as 2018 came to a close, smashing estimates of 178,000 from economists surveyed by Reuters. It was the survey’s best month since February 2017, which saw a gain of 280,000, and brought the average monthly gain for last year to 206,000.
December also showed a marked gain from November, when just 157,000 new jobs were added, a total revised lower from the initially reported 179,000.
Sen. Perdue hosts breakfast with Morehouse President
Cindy Morley, InsiderAdvantage
December 5, 2018
U.S. Senator David Perdue (R-GA) kicked off the week by hosting a roundtable in Atlanta, bringing together Georgia’s Historically Black Colleges and Universities and state business leaders to discuss the state’s future workforce.
Senator Perdue is a member of the Congressional Bipartisan Historically Black Colleges and Universities (HBCU) Caucus. He hosted the breakfast roundtable discussion with Dr. David A. Thomas, President of Morehouse College, and a number of Georgia business leaders.
Roundtable attendees included Klaus Zellmer, CEO of Porsche North America, Steve Hennessey of Hennessey Auto, presidents of the Metro Atlanta Chamber of Commerce and Georgia Hispanic Chamber of Commerce, and senior leadership from UPS, Aflac, and 1908 Capital.
“Morehouse is one of the top five HBCUs in the country, and I’m proud of the work they do to develop young men into tomorrow’s leaders,” said Senator Perdue.
“As a member of the HBCU Caucus, one of my top priorities is increasing engagement between the business community and our education centers. By working together, we can build a more diverse and qualified workforce, while providing students with the mentorship and support they need to succeed.”
Perdue went on to say that he felt they had an “open and candid conversation” between President Thomas and Georgia business leaders.
“I appreciate everyone coming to the table to share their insight and ideas, and I am encouraged about the future of Morehouse and its contributions to Georgia and our country,” Sen. Perdue added.
“I am appreciative of the personal support Senator Perdue has shown me since I arrived in Atlanta to become President of Morehouse College,” said President Thomas. “Monday’s hosted breakfast with members of the business community was just one more example of his commitment to seeing Morehouse and the entire Atlanta University Center thrive.”
Boom: Record high business optimism, need for employees at 45-year high
By Paul Bedard, Washington Examiner
The record level of economic optimism among small businesses is continuing, and those firms trying to fill jobs is at a 45-year high, according to a new industry report.
The National Federation of Independent Businesses said the optimism has only been this high three times in the last 43 years and has consistently been high all year long.
“For two years, small business owners have expressed record levels of optimism and are proving to be a driving force in this rapidly growing economy,” said NFIB President and CEO Juanita D. Duggan. “The October optimism index further validates that when small businesses get tax relief and are freed from regulatory shackles, they thrive and the whole economy prospers.”
Read more in Washington Examiner.
U.S. Sen. Perdue: Dodd-Frank regulations holding back economy
Some $2 trillion on the balance sheets of small and regional banks will be freed up if and when Congress passes a proposed rollback of federal banking regulations imposed following the Great Recession, U.S. Senator David Perdue said.
Perdue, R-Ga., is meeting this week with executives from Regions and SunTrust banks, two of the banks that stand to benefit if the U.S. House of Representatives approves reforms to the Dodd-Frank Act the Senate passed last month.
Supporters say the legislation would help America’s community and regional banks while maintaining consumer protections against the worst abuses of the giant national banks that contributed so much to the financial meltdown of 2008-09.
The main complaint against Dodd-Frank has been that in their zeal to bring greater oversight to the larger banks, congressional Democrats and the Obama administration cast a wide regulatory net that also caught up community and regional banks.
“It made big banks bigger and more profitable and put 1,700 small banks out of business that had nothing to do with the financial crisis,” said Perdue, a member of the Senate Banking Committee.
Perdue said the best chance for House passage of the reform bill will be if a bipartisan combination of Republicans and Democrats can join forces behind it, as happened in the Senate, where 16 Democrats voted for the measure.
Read more at Atlanta Business Chronicle.
CNBC Small Business Survey: 46% say tax reform is positive for business CNBC Small Business Survey: 46% say tax reform is positive for business
Small-business confidence is surging in 2018 as optimism rises among small-business owners about the newly enacted tax-reform package, according to the latest CNBC/SurveyMonkey Small Business Survey, released Tuesday.
The CNBC/SurveyMonkey Q1 Small Business Confidence Index saw an increase of five points, from 57 to 62, a record high and the largest quarter-to-quarter move the index has seen since CNBC and SurveyMonkey began measuring last year. This is the first survey since President Donald Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017.
Read more at CNBC.