How a Record-Breaking Economy Is Helping Those Who Need It Most

The Daily Signal | 7/10/2019 | Staff
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Adam Michel focuses on tax policy and the federal budget as a policy analyst in the Thomas A. Roe Institute for Economic Policy Studies at The Heritage Foundation.

The U.S. economy is in the midst of the longest economic expansion in our history—more than 10 years of consecutive growth.

Climb - Great - Recession - Policies - Tax

The climb out of the Great Recession has been prolonged and strengthened by pro-growth policies, such as tax cuts and deregulation.

Rolling back those reforms or burdening workers with new restrictions would present the biggest threats to continued prosperity for American workers.

US - Economy - Opportunities - People

The strong U.S. economy continues to offer new opportunities to people who have historically been left behind.

Average wages have grown above 3 percent for 10 straight months—twice as fast as inflation. And since the tax cuts of 2017, wage growth for the poorest 25% of workers has reached post-recession highs of 4.4 percent.

Data - Federal - Reserve - Bank - Atlanta

In the most recent data from the Federal Reserve Bank of Atlanta, the highest-income workers’ wages are growing at a more modest rate, more than a percentage point lower than those of low-wage workers.

June’s unemployment rate remains close to its 50-year low at 3.7%, and the 224,000 jobs created last month is more than double the number needed to keep pace with population growth and demographic change.

Americans - Job - June - Employment - Numbers

For Americans who want a job, they are readily available. June’s employment numbers were particularly good for African-Americans, with the rate dropping to 6%, nearing the historic 2018 low of 5.9%. Women, Hispanics, and workers without a college degree are seeing similar trends.

Previously unemployed Hispanic and black working-age women are finding jobs faster than any other demographic group.

Washington - Politicians - Ability - Jobs - Opportunity

Washington politicians don’t have the ability to create jobs or long-run opportunity. When they try, they most often fail. However, as we are seeing today, when Washington takes even a small step back, businesses thrive,...
(Excerpt) Read more at: The Daily Signal
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