One of President Donald J. Trump’s signature campaign issues was revitalizing the American economy that had been crippled by Barack Obama’s burdensome taxes and regulations.
Since taking office, Trump’s pro-business rhetoric has been a beacon of hope for American businesses, as dozens of companies have pledged to invest billions of dollars into the U.S. economy in the coming years.
In just a few short months Amazon has pledged to create 100,000 new jobs, Fiat Chrysler announced a $2 billion American investment that will lead to 2,000 new jobs, and Stanley Black & Decker will open a new $35 million new plant. These three companies are just a small sampling of the dozens of companies that have recommitted to the United States following the election of Donald J. Trump.
Well, it appears as though this new confidence in the American economy is paying off, as the U.S. added 211,000 jobs in the Month of April, and the unemployment rate fell to 4.4%.
BREAKING: US added 211,000 jobs in April, unemployment rate fell to 10-year low of 4.4 percent.
— The Associated Press (@AP) May 5, 2017
Average hourly private-sector earnings were up 2.5 percent over the previous year. In March, they were up 2.6 percent over the previous year.
Analysts had predicted the creation of 185,000 jobs, an unemployment rate of 4.6 percent and an increase in over-the-year hourly earnings of 2.7 percent.
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These new numbers mean that the number of employed Americans set a record for the third consecutive month, reaching 153,156,000. The 211,000 new jobs is a significant increase from the 98,000 jobs created in March, and CNS News notes that employment in February was revised up from 219,000 new jobs to 232,000, but March’s numbers were revised down from 98,000 to 79,000 new jobs created.
These new numbers are a significantly positive sign for an American economy that has been weary for the last 8 years. President Trump’s recently introduced tax plan should further encourage American businesses to invest domestically, as the corporate tax rate will be reduced significantly, from 39.6% to 15%.
Lower corporate taxes will encourage companies to bring much of their cash that is stored overseas back home so it can be invested in America. Currently, America’s corporate tax rate incentives companies to shelter much of their revenues in other countries to avoid our burdensome taxes, but President Trump has pledged to reverse this trend.
Are you glad to see the unemployment rate continue to fall as American companies continue to hire? Do you believe President Trump’s policies are responsible for the improving economy? Share your thoughts below!
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