ECONOMY BOOMING UNDER TRUMP … ADP: US Private Sector Jobs Soar … 235,000 Jobs Added in October 2017 vs 200,000 Expected & Worker Productivity Up & Manufacturing Surges in Midwest States
MAKING AMERICA GREAT AGAIN … PUTTING AMERICA BACK TO WORK AND OFF UNEMPLOYMENT.
As reported at CNBC, the number of private-sector jobs created in October 2017 rose to 235,000. That was more than expected and far more than October 2016. In terms of business size, job gains were spread evenly, with companies that have more than 500 employees hiring 90,000 while those with fewer than 50 added 79,000. Mark Zandi, chief economist of Moody’s Analytics, stated that “the job market has rebounded quickly following the devastating hit it took from Hurricanes Harvey and Irma.”
This is one of the many reasons why Donald Trump defeated Hillary Clinton. Trump had a plan for the economy, Hillary did not. The economy is booming in states like Minnesota and Iowa. The coal industry is making a come back. All this country needs is a real and legitimate tax relief plan for business and individuals, not just a tax shell game of moving taxes and it will light this already robust economy on fire.
The number of private-sector jobs created in October rose more than expected, with construction jobs surging in the wake of destructive hurricanes Harvey and Irma.
The ADP National Employment showed private-sector businesses added 235,000 jobs in the month. ADP was expected to show private employers added 200,000 jobs in October, up from 135,000 in September.
Goods-producing companies benefited strongly with 85,000 new jobs, 62,000 of which came from construction. Manufacturing also saw 22,000 positions added.
Overall, the service sector accounted for the bulk of the job creation, adding 150,000 jobs. Professional and business services added the most positions, up 109,000. Job losses were seen in the trade, transportation, and information sectors, as well as education.
UPDATE II: Manufacturing surges in Midwestern states.
Citing strong exports, hiring and faster ingredient deliveries, Midwest manufacturers reported their highest growth in four months in October, according to a widely watched economic report issued Wednesday by Creighton University.
Creighton’s Mid-America Business Conditions Index, which covers Minnesota and eight other central states, rose to 58.8 in October from 58.2 in September. It is the 11th consecutive month the index signaled strong economic growth for factories in the region.
Minnesota’s index fell to a still strong 56.3 in October from 59.4 in September as factories reported growth across nearly all measures. Any index above 50 indicates growth.
“Over the past 12 months, Minnesota expanded both durable and nondurable goods manufacturing. Gains were strong for food processors and medical equipment manufacturers,” said Ernie Goss, director of the Creighton Economic Forecasting Group.
For the nine-state region — Minnesota, the Dakotas, Iowa, Kansas, Missouri, Nebraska, Oklahoma and Arkansas — Goss found that factory employment, exports, inventories and confidence levels swelled significantly last month while new orders and sales remained strong.