Washington, DC - The Trump economy has kicked into high gear, driving up business optimism, spurring strong growth and productivity, and creating more and more job opportunities for workers.
FOX BUSINESS: Small Business Optimism at 35-Year High
“Small business owners’ optimism touched a 35-year high in July, with businesses setting records in terms of job creation and hiring, while they cited the availability of qualified workers as their biggest challenge … In July 2018, the NFIB’s Small Business Optimism Index marked its second highest level in the survey’s 45-year history, at 107.9 – just shy of the July 1983 record-high of 108. Records were set for job creation plans.”
GALLUP: U.S. Small-Business Owners’ Optimism at Record High
“U.S. small-business owners are more optimistic now than at any point in the 15-year history of the Wells Fargo/Gallup Small Business Index. In the latest quarterly survey, which measures small-business owners’ attitudes about a wide variety of factors affecting their businesses, the overall index score is +118. This is higher than prior 2018 measures — with Quarter 2, 2018, at +106 and Quarter 1 at +107. The index now sits just above the record-high +114 from 2006.”
THE WALL STREET JOURNAL: Retail Sales and Manufacturing Are Powering U.S. Growth This Summer
“A surge in retail sales and rising manufacturing output suggest the U.S. economy’s strong growth in the second quarter continued into the third.”
REUTERS: U.S. Retail Sales Increase Strongly in July
“U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter … July’s increase in core retail sales suggested the economy started the third quarter on solid footing after logging its best performance in nearly four years in the second quarter.”
BLOOMBERG: Productivity in U.S. Climbs 2.9%, Fastest Pace in Three Years
“Productivity gains in the U.S. accelerated by more than expected to the fastest pace since 2015 while labor costs fell, amid an economic-growth pickup supported by tax cuts and federal spending, a Labor Department report showed Wednesday. The data indicate that the lift to growth in the quarter from Republican-backed tax cuts also came with a boost to productivity.”
MARKETWATCH: Jobless Claims Drop Again Back Near Post-Recession Low
“Initial jobless claims, a measure of layoffs in the U.S., fell in early August and returned near a post-recession low. New claims declined by 2,000 to 212,000 in the seven days from Aug. 5 to Aug. 11. Economists polled by MarketWatch had forecast a 215,000 reading … The number of applications for jobless benefits in early August was just slightly higher than a post-recession low set in April. Earlier this year the rate of layoffs dropped to levels last seen in the late 1960s.”
THE ASSOCIATED PRESS: Open Jobs Outnumber US Unemployed for 3rd Straight Month
“U.S. employers posted slightly more openings in June than the previous month, resulting in more available jobs than unemployed people for the third straight month, signaling a solid economy … The unemployed typically outnumber job openings, but that reversed this spring amid strong demand from employers. Businesses are optimistic about the outlook and stepping up hiring in anticipation of solid future growth.”
