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WEEKLY ECONOMIC UPDATE

October 1 – October 5

CHART OF THE WEEK

Incomes Rise Nationwide at 4.2% Annual Rate  

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.

*Wages and salaries and proprietors’ income (non-corporate business profits, such as those of small business owners).

LAST WEEK

JEC Hearing 

Examining the Rise of American Earnings and Living Standards (Hearing Video)

JEC Releases

The EU's New Digital Trade War?

The Truth About Medicare and the Tax Cuts and Jobs Act

Permanent Tax Relief = Even Fairer Taxes for the Middle Class

JEC September 2018 FOMC Review

Chairman Paulsen: A Strong Economy Makes for a More Confident Fed

Chairman Paulsen's Opening Statement on “Examining the Rise of American Earnings & Living Standards”

LAST WEEK

News & Commentary

September consumer sentiment tops triple digit mark for only the third time since January 2004 (CNBC)

U.S. consumer spending increased steadily in August (CNBC)

U.S. economy helped by factories in late summer, Chicago Fed index shows (MarketWatch)

The Trump Boom Is Real — Just Ask The Global Economy (Investor’s Business Daily)

New Economic Freedom Index, U.S. Returns to Top 10 (Cato)