Average hourly wages jumped by 2.9 percent when compared to last January, the biggest increase since 2009.
The good news about the American economy got a whole lot better in January. About 200,000 jobs were created, higher than the 180,000 expected. The unemployment rate held at 4.1 percent, an 18-year low. Best of all, though, after decades of little to no wage growth for hourly workers, we saw a jump of nearly three percent, which is much higher than expected.
“Average hourly earnings rose 0.3 percent from the prior month following an upwardly revised 0.4 percent gain,” Bloomberg reports. “The 2.9 advance from a year earlier — which partly reflected a downward revision to the January 2017 wage figure — compared with projections for a 2.6 percent increase. December’s gain was revised upward to 2.7 percent.” – READ MORE
[give_form id=”79809″] [divider][/divider]As more and more companies pass their tax savings on to both their employees and their customers, snack cake giant Hostess — which was on the brink of collapse just a few short years ago — announced a cash bonus for workers with an unorthodox twist:
The company, which makes Twinkies, Ding Dongs and Ho Hos, is providing its employees one-time payments of $1,250 — with $750 in cash and $500 in the form of a 401(k) contribution. In taking the step, Hostess cited last month’s tax legislation, which slashed the rate for U.S. corporations.
It’s also offering a year’s worth of free food to workers — though they won’t be able to eat all the Ding Dongs they like. A representative from each of Hostess’s bakeries will choose a product each week, and the employees will be able to take home a multipack of that item. The company also makes Hostess CupCakes, Fruit Pies and Donettes. – READ MORE
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President Trump on Thursday likened House Minority Leader Nancy Pelosi’s calling the recent tax law-related bonuses “crumbs” to Hillary Clinton’s infamous “deplorable” comments from the 2016 campaign.
“That could be like ‘deplorable,’ ” Mr. Trump said of Mrs. Pelosi’s comments. “Those two words — they seem to have a resemblance. I hope it has the same meaning.”
“But she called it crumbs when people are getting $2,000 and $3,000 dollars and $1,000 — that’s not crumbs. It’s a lot of money,” he said. – READ MORE
[give_form id=”79809″]Rep. Nancy Pelosi again referred to worker bonuses as “crumbs,” even while acknowledging that people have been mocking her for her out-of-touch comments.
Pelosi spoke at another tax-reform town hall in Massachusetts on Thursday, and made sure to remind everyone that she thinks the $1,000 bonuses companies are handing out in the wake of Trump’s tax cuts are “crumbs.” – READ MORE
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