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As of September 2018, the overall U.S. unemployment rate was the lowest since December 1969. Several groups within the workforce also experienced the lowest unemployment rates ever recorded in the last half-century, including disabled men, black men, Hispanics, Hispanic women, women, and married women.*
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This was another strong jobs report. Most impressively, the unemployment rate (U-3) fell to 3.7%, the lowest since December 1969. Though September’s job creation numbers may have been affected by Hurricane Florence, it was notable that 87,000 more jobs were created in August and July than initially reported.

Oct 01 2018

September FOMC Review

The FOMC’s September statement, noted that “the labor market has continued to strengthen.” It also described economic activity, job gains, household spending and business investment as strong or growing strongly. Meanwhile, inflation remains at the Fed’s desired 2% rate. These outcomes indicate tax reform is working as planned—low inflation and faster economic growth are signaling sustainable progress, not just a “sugar high” as some critics claim.
Across the United States incomes increased 4.2%, at an annual rate, according to the Bureau of Economic Analysis (BEA) State Quarterly Personal Income report for Q2-2018. The BEA also noted that the U.S. industries with the largest percent rise in earnings* were farming, mining, professional, scientific and technical services, construction, and administrative and waste management.
In the latest example of targeting U.S. technology firms, the European Commission (EC) has accused Google of using its Android Operating System (OS) to prevent the use of other search engines. However, the EC has provided little evidence that Google has market dominance or consumers have been harmed by Google’s practices. Google’s record fine and a myriad of other hefty fines levied on U.S. tech companies suggest that the EC is attempting to curb U.S. participation in the EU market.
Both the 2018 Medicare Trustees Report and the Congressional Budget Office (CBO) project an insolvency date of 2026 for the Medicare Hospital Insurance (HI) trust fund. It’s time to separate fact from fiction on whether the trust fund is in better or worse shape due to the Tax Cuts and Jobs Act (TCJA).
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Permanent tax relief for families means millionaires pay a larger share of the tax burden and those who need it most see the largest percentage drop in their taxes.

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The benefits share of total compensation is at an all-time high of 31.7 percent. Private-sector employee benefits increased by 3 percent in June from a year earlier. Cash bonuses unrelated to job performance reached a record high of 7.6 percent of total benefits in June. Tax reform has enabled hundreds of firms to offer bonuses, better benefits, and pay increases.