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Representative David Schweikert - Vice Chairman

Pro-Growth Policies Create More Jobs

Pro-Growth Policies Create More Jobs

WEEKLY ECONOMIC UPDATE

August 20 – August 24

CHART OF THE WEEK

Pro-Growth Policies Create More Jobs

The upward revisions of Congressional Budget Office (CBO) job creation projections for 2018 and the even higher actual average so far this year show the positive impact of pro-growth policies. The first three bars in the chart show the date CBO published its projections (assuming then-current law remained in effect). Before the Tax Cuts and Jobs Act (TCJA) was enacted and regulatory reforms began, CBO estimated only 106,000 jobs would be created per month in 2018. After regulatory and tax reforms CBO nearly doubled its projection to 200,000. The actual year-to-date rate is 215,000 jobs per month.

LAST WEEK

News & Commentary

Confidence Is High (Wall Street Journal)

Retail Sales and Manufacturing Are Powering U.S. Growth This Summer (Wall Street Journal)

Productivity in U.S. Climbs 2.9%, Fastest Pace in Three Years (Bloomberg)

U.S., China to Resume Trade Talks as Tariffs Bite (Wall Street Journal)

‘America first’ — U.S. stock market outpaces global competitors (MarketWatch)

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