The effects of the 2017 Tax Cuts and Jobs Act (TCJA) continue to ripple through the economy with the U.S adding 130,000 jobs in August. According to the U.S. Bureau of Labor Statistics the unemployment remains at the low rate of 3.7 percent while the labor force participation rate rose to 63.2 percent in the past month.
In addition to job creation, August saw the largest gain for average hourly wages in the past year: 11 percent. Wages have now grown 3.2 percent over the past year and are integral evidence of a strong economy. For people across the country wage increases have been a continued result of businesses having more money in their pockets due lower tax rates from the 2017 TCJA.
A year and half after its implementation it is clear that the 2017 TCJA continues to help people all over the nation gain jobs, increase wages and overall, live better lives.