The Bureau of Labor Statistics released its newest jobs report on Friday, and the data clearly show, under the pro-business policies implemented by the Trump administration, low-income and working-class families are enjoying significant economic gains not experienced in nearly 20 years.
Democrats and liberal pundits have argued the recent economic improvements are only helping a relatively small, mostly wealthy segment of the country, but nothing could be further from the truth. According to BLS, the national unemployment rate for December was 4.1 percent, a 0.6 percentage point drop from December 2016. That’s an impressive figure, especially since the unemployment rate stayed flat at 4.9 percent from January 2016 through October 2016, the final month before Trump’s election victory. But what’s especially remarkable is the extent to which working-class Americans are profiting under Trump and Republican leadership in Congress.
For instance, the unemployment rate for Americans without a high school diploma was 6.3 percent in December 2017, down from 7.6 percent one year earlier. Further, the average monthly unemployment rate for this demographic in 2017, 6.5 percent, is the lowest it’s been since 2000 and the second-lowest figure in BLS’ data for that demographic, which goes back 26 years to 1992.
The unemployment rate for workers who have graduated from high school but don’t have a college degree is equally impressive. It dropped from 5.1 percent in December 2016 to 4.2 percent in December 2017, and the monthly average unemployment rate, 4.6 percent, is the best it’s been since 2007. Further, the average unemployment rate for this group in the final four months of 2017, 4.28 percent, was lower than any annual average recorded since 2001. – READ MORE
[divider][/divider]Leading up to and following the Republicans’ $1.5 trillion tax cut that gives 80% of taxpayers some much-welcomed tax relief, Democrats and their sympathetic colleagues in the left-leaning media made a big to-do of polls showing how much Americans supposedly hated being allowed to keep more of their own money. But in reality, the benefits of the comprehensive tax reform bill have already begun to impact Americans, with a growing list of companies offering bonuses, raising wages, getting more generous with their charitable giving, and finding ways to pass savings along to customers.
Add Pepco to that growing list. This week, Pepco announced that because of the bill’s game-changing corporate tax reduction (slashed from 35% to 21%), 300,000 customers in Washington, D.C. will see lowered costs.
Pepco says it will lower electric bills for almost 300,000 ratepayers in D.C., largely because its corporate tax rate was slashed from 35 to 21 percent in GOP tax bill. pic.twitter.com/St9Vym5ILF
— Martin Austermuhle (@maustermuhle) January 9, 2018
As The Daily Wire’s Ryan Saavedra highlights, so far around 100 companies — many of them major national companies — have announced that they are increasing bonuses, wages, and/or charitable giving. – READ MORE
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