MAGA: Manufacturing Jobs in November Highest in 15 years!
The job market is red hot, with broad-based job gains across industries and company sizes, according to the latest Moody’s Analytics, with November’s manufacturing job gains being a 15 year high.
The report from Reuters shows that indeed the addition of blue-collar jobs is deep and wide across industries, showing a very healthy job market, that could really take off with the coming tax relief to small businesses and corporations.
Among goods-producing sectors, manufacturing added 40,000 jobs, the most in the ADP series history dating back more than 15 years, while construction shed 4,000.
Services-sector employment gains led the advance, with the largest increase coming in education and health services at 54,000, followed by professional and business services at 47,000.
Midsized businesses, defined as employing between 50 and 499 people, added 99,000 jobs, while small-employer employment rose by 50,000 and large companies increased their workforces by 41,000.
The ADP figures come ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment.
Trump met with his cabinet Wednesday morning and in his statements brought up the great jobs numbers, we have seen to date, along with some of the other numbers that are important to understand just how great the economy will be once Republicans get their imperfect tax bill through.
We’re on the verge of a historic victory that cuts taxes for the middle class, for businesses; brings back, probably, an excess of $4 trillion. As you know, we’ve been saying $2.5 trillion for years. Well, that number has greatly expanded. And we’ll be bringing back an excess of $4 trillion. It will be put to work in our country. There will be a lot of jobs being brought back with that money. Right now that money is being spent overseas. It’s not going to be spent overseas anymore…
We’ll be bringing the business tax from 35 all the way down to 20. At 35, it’s the highest in the industrialized world. At 20, we’re on the very low side, so we’ll be very competitive. You look at China, it’s 15 percent. Other countries are 18 percent. Some are 23, 24 percent. The average is actually, of the primary competitors, is actually 23 percent. So we’ll be pretty much below the average, and we’ll be able to compete…
Consumer confidence is at a 17-year high. We’ve created nearly 2 million jobs. Think of that — 2 million jobs since Election Day. That’s based on consumer confidence. That’s based on enthusiasm. Every enthusiasm poll, especially for business enthusiasm and job enthusiasm, is at an all-time high…
But to get it going the way I really want, where we have GDP getting up to 4, 5, and even 6 percent — because I think that’s possible. If you look back in your notes, you’ll say when I said 4 percent, people said that would be years. Well, it’s turned out that I’m right because without the hurricanes this last quarter, we would have hit 4 percent. At 3.3 percent, which was adjusted previously — this is far beyond what anybody thought it would be at. So we’re at 3.3 percent GDP. I see no reason why we don’t go to 4, 5, and even 6 percent. And I don’t want to go beyond that because then it will be criticized if we don’t hit it.
But every time we go up one point, just so you understand, one point means $2.5 trillion, means 10 million jobs. So one point in GDP is an incredible statement. $2.5 trillion for each point, 10 million jobs for each point. And I think we’re going to be going up a lot of points.
Business is booming!
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