Companies Added Way More Jobs Than Expected In December

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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.

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Record High Business Optimism

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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.

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Congratulations to Governor-elect Brian Kemp

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Georgians sent a clear message that they are committed to keeping our state on track. Despite liberal Democrats from outside Georgia spending tens of millions of dollars in our state, it still didn’t work.

The people of Georgia flatly rejected socialism. They rejected a single-payer health care system. They rejected open borders and sanctuary cities. They made it clear that the Democrats’ path to the presidency in 2020 will not run through Georgia.

Brian Kemp is a strong leader and businessman who will continue to build on our state’s success. Congratulations to Brian on becoming Georgia’s next Governor, and I will work with him to keep Georgia the best state in the country in which to do business.

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Statement on Republican Senate Victories

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Over the last few months, I’ve traveled the country to campaign for Republican U.S. Senate nominees because too much was at stake to sit on the sidelines. We had an opportunity to grow our Republican majority, and last night we did just that.

Why is it so important?

We are seeing the greatest economic turnaround in American history. President Donald J. Trump’s agenda is working and the American people agree. That’s why we have improved our strong majority in the United States Senate.

We have turned the direction of our country, but there is still more work to do. With the help of these impressive new Senators, we can continue to grow the economy, strengthen our global security situation, and deal with our outrageous $21 trillion debt. We also need a serious immigration solution, an infrastructure system that works, trade policies that give us a level playing field, and an education system that prepares workers for the jobs being created by this economic turnaround.

I believe we can do this in the United States Senate and President Trump is committed to delivering results for the American people.

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SHEP Funding A Huge Win For Georgia

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SHEP Funding A Huge Win For Georgia
By Sen. David Perdue (R-GA)

Return on investment is the driving force behind financial decisions successful businesses make. Finally, it looks like our federal government is starting to operate this way too. We’ve been trying to deepen the Port of Savannah five feet for 19 years, and it took a business guy in the White House to help get it done.

Last week, it was announced the Savannah Harbor Expansion Project (SHEP) will receive the federal funding it needs to stay on track. This announcement is a huge win for Georgia and will yield a significant return on investment.

Why is that?

Growth. The Port of Savannah is the fourth largest, and fastest growing, port in the entire country. Once completed, SHEP will contribute $282 million to our economy every single year.

Jobs. Georgia’s ports support over 439,000 jobs around the state.

Volume. The Savannah port is the busiest container port in the Southeast. Over 4 million cargo containers are on track to be moved by the end of the year.

Infrastructure. The GPA laid the groundwork we need to expand the Savannah port’s reach. In March, they brought online a neo-Panamax crane. In the same month, they broke ground on the Mason Mega Rail Terminal. This $126.7 million investment will double the Port’s rail lift capacity to 1 million containers annually and help open new markets from Tennessee to Missouri to Illinois to Ohio.

The economic return here is obvious. Out of all port projects around the country, SHEP has the best benefit to cost ratio: 7.3 to 1. The Panamax ships used at the Savannah port are three times the size of traditional ships, with much lower costs per unit. When the port is deepened, these ships will be able to nearly double the volume they transport today.

Georgia has recognized this for a while and has already paid their share and more. The federal government’s investment has been overdue. The consequences of a lower federal investment are delays and hundreds of millions in additional costs to taxpayers. President Donald Trump knows all of that, which is why the project is back on track.

SHEP is Georgia’s top infrastructure project and will help our country compete globally. This was one of my top personal priorities when I ran for the United States Senate in 2014, and its full funding for this year is a huge win for Georgia and our nation.

Read more in The Savannah Morning News.

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Isakson & Perdue: Tax Cuts Are Helping Georgians

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By Sens. Johnny Isakson and David Perdue 

The tax cuts passed by the U.S. Senate and signed into law by President Donald J. Trump are already having a positive impact across the country. Businesses are investing in our economy again. More than 3 million Americans have received bonuses. Wages are rising at their highest rate in eight years.

Here in Georgia, we are seeing this positive impact firsthand.

In Marietta, Expanded Technologies, Inc., is giving a minimum bonus of $500 to every employee. Lockheed Martin is increasing its employee training initiatives and charitable contributions by $200 million, and the company is contributing an additional $5 billion toward employee pensions.

Carl Black Automotive Group in Kennesaw is giving bonuses to more than 500 employees.

Family-owned and operated Shred-X Corporation in Griffin is purchasing new equipment and hiring a new employee for its 10-person shop.

 In Austell, Yancey Brothers, a heavy construction equipment dealer, is giving $500 bonuses to 1,200 employees.

 The Starbucks plant in Augusta is creating 500 new manufacturing jobs and announcing a $120 million expansion as part of an overall increased investment in America that will generate thousands of jobs.

 In Columbus, multiple businesses are taking positive action because of these tax cuts and pro-growth changes to the overall tax code.

 AFLAC announced it is increasing its overall U.S. investment by $250 million.

 Synovus Financial Corporation is giving $1,000 to all non-executive employees.

 Total System Services (TSYS) Payment Solutions is giving $1,000 bonuses to more than 11,000 employees in Georgia and other states.

 Meanwhile in Atlanta, Home Depot is giving a bonus of up to $1,000 to every hourly employee, including those in its Georgia-based stores.

 UPS is also increasing employee pensions for its employees in Georgia and nationwide and expanding its overall investment in the United States by $12 billion.

 AT&T and Bellsouth Brands are giving more than 200,000 employees a $1,000 bonus and increasing overall investment in the U.S. by $1 billion.

 SunTrust is increasing its base wage to $15 per hour. Additionally, it is raising wages by merit, expanding its overall U.S. investment in community grants by $50 million, and making additional 401(k) contributions.

Mincey Marble in Gainesville is giving bonuses of up to $1,000. Donna Mincey, Mincey Marble CEO, put it this way: “Companies big and small are passing along tax savings to the workers who help build our economy.” She added that these tax cuts are “the kind of meaningful change that can help transform communities by bringing relief to American workers and families.”

Donna Mincey is exactly right. President Trump ran on changing the direction of our country and making us more competitive with the rest of the world. We are committed to working with him to accomplish this goal, and these tax cuts are a formidable step.

Read the full op-ed in Atlanta Business Chronicle.

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Small Business Confidence Hits Record High

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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.

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Georgia Businesses & Workers Benefiting From Tax Cuts

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A rising number of Georgia businesses and workers are feeling the positive impact of the historic tax cuts that became law last year.

  • Aflac (Columbus) increased its 401(k) match to 100% on the first 4% of compensation and made a one-time $500 contribution to every employee’s 401(k). it also announced an increase in its overall U.S. investment by $250 million.
  • AR-15 Gun Owners of America (Warner Robins) announced salary increases and bonuses for all employees.
  • AT&T Southeast / BellSouth Telecommunications (Atlanta) announced that over 200,000 employees are getting a $1,000 bonus and that its investing $1 billion more overall in the United States.
  • Carl Black Automotive Group (Kennesaw) announced bonuses for over 500 employees.
  • CMC (Stephens County) announced $1,000 bonuses for all employees.
  • Expanded Technologies (Marietta) announced a minimum bonus of $500 for every employee.
  • Home Depot (Atlanta) announced a bonus of up to $1,000 for every hourly employee.
  • Lockheed Martin Corp (Marietta) announced it plans to put $5 billion toward its pensions and that it’s increasing its investment in employee training, charitable contributions, and the Lockheed Martin Ventures fund by $200 million.
  • Mincey Marble (Gainesville) announced it’s giving bonuses of up to $1,000 to every employee.
  • Shred-X (Griffin) announced it’s hiring a new employee and purchasing new equipment.
  • Starbucks is headquartered in Seattle but has a plant in Augusta. That plant is getting 500 new jobs and a $120 million expansion.
  • SunTrust Banks, Inc (Atlanta) is raising its base wage to $15 per hour, investing an additional $50 million in community grants, and making additional 401(k) contributions.
  • Synovus Financial Corporation (Columbus) announced it’s giving a $1,000 bonus to all non-executive employees.
  • Total System Services (Columbus) announced it’s giving a $1,000 bonus to over 11,000 employees in Georgia and other states.
  • UPS (Atlanta) is making a $12 billion investment to expand its Smart Logistics Network and to increase employee pensions.
  • Yancey Bros. (Austell) announced it’s giving a $500 bonus to 1,200 employees.

Nationally, over 3 million Americans are getting bonuses and wage increases. Over 260 American businesses have announced they’re taking positive action because of these tax cuts. Read more here.

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