Many people said it wouldn’t happen. They said we were heading into a downturn or recession. They don’t believe in an economy fueled by tax cuts. But they were, and continue to be wrong and the November employment numbers prove it!
November saw 266,000 new jobs in the United States after experts best guess was between 180,000 and 190,000 new jobs for November. That is about 76,000 more jobs than expected.
The rise in jobs reduced the unemployment to 3.5% in November, from 3.6% in October. Wages were also up, as workers saw an average increase of 7 cents to $28.29 an hour.
These new jobs, higher wages and more people in work mean that roughly 76,000 people have more food on the table, more money in their back pockets and a better or new source of income just in time for the holidays!
While there are many things that lead to new jobs, the continued legacy of the TCJA is not be forgot. The 2017 act continues to drive up wages, drive down costs of businesses and overall increase the money that the average American has.
As the two year anniversary of the bill is fast approaching, it is clear that its impacts will be long and fruitful.