Middle Class Income Rising, Back To Where It Was In 2000

MORE GREAT ECONOMIC NEWS …

As reported at CBS – Boston, Middle class income levels are back to where they were during 2000. The Pew Research Center report, which used the most recent data available; however wait until they use the 2017 and 2018 economic data that will show the levels have blown above the reported 2016 ones.

No wonder the middle class is feeling squeezed. Its income is only returning to where it was in 2000.

The typical family of three had an income of just under $78,450 in 2016, according to a Pew Research Center report, which used the most recent data available. In 2000, it was just under $78,100.

Whatever advances the middle class made in the early 2000s were snuffed out by the Great Recession, said Rakesh Kochhar, a senior researcher at Pew. Its median income had dropped to $74,000 by 2010, and it took several years to return because of the historically slow economic recovery just after the downturn.

Only upper income families have seen some uptick. Their income rose to nearly $187,900 in 2016, compared to $183,700 in 2000.

The Census Bureau will report median household income for 2017 for the nation overall on Wednesday. It rose to just over $59,000 in 2016, up 3.2% from a year earlier.

More Economic Winning: 83% Executives Say Business is Better, 76% See More Growth

MORE ECONOMIC WINNING WITH SOME PUZZLING UNDERLYING DATA …

According the the Washington Examiner, 83% of executives say business is better and 76% see more growth. This is more economic winning under the Trump presidency. However, there are a couple of disturbing quirky elements from this data. Despite the GOP tax cuts that have helped businesses, the executives prefer Democrats in the upcoming midterm congressional elections and also believe that Democrats are better for business. HUH? This makes entirely no sense. The reason why the economy is booming is because President Donald Trump and Republicans lowered taxes and roll back regulations. There was not one vote from Democrats. Also, Democrats are on record that they want to repeal the Trump tax cuts, how could Democrats ever be good for business or growth?

Over eight-in-10 executives believe that business is better than it was two years ago, and almost as many expect further growth in the third year of the Trump administration, according to a new survey of decision makers.

The Zogby Poll from Zogby Analytics, provided to Secrets Friday, also found that both big and small businesses see the economic climate in great shape.

“An overwhelming majority (83 percent) of respondents said business is doing better compared to two years ago. Whether this sentiment is the result of actions put forth during the Obama presidency or Trump presidency is up for debate and will be divided along partisan lines, but at the moment there is momentum building in the U.S. economy,” said the trademarked survey.

America, it was the Trump & GOP tax cuts and his roll back of regulations that has caused to economic boom. The reason why the DOW is up over 8000 since Trump’s election, why the S&P 500 and NASDAQ surged to record highs and why the US consumer confidence has rose to an 18-year high, why we are all-time lows with Black and Hispanic unemployment, small business optimism at 35-year high and why the U.S. Second-Quarter GDP 4.1%, adjusted to 4.2%!!!

FOLKS, THAT IS PRESIDENT DONALD TRUMP AND REPUBLICANS WHO ARE RESPONSIBLE, NOT DEMOCRATS. If you want all this to end and if you want to stop winning, vote Democrat in the midterms and watch it all crash.

Small Business Optimism Up Again and At 35-Year High … Just Shy of the July 1983 Record-High of 108

MAKING AMERICA GREAT AGAIN!!!

As reported at FOX Business, Small business owners’ optimism hit a 35 year high in July at 107.9, just shy of the July 1983 record-high of 108. Small businesses  also set records in terms of job creation and hiring. President Donald Trump is doing an incredible job of creating an environment conducive to business, the economy and unemployment. Small businesses are the backbone of the American economy and this type of optimism has not been seen since the days of Ronald Reagan. AMAZING!!!

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 another signal of just how good this economy is, the small business owners also noted that they were able to increase prices.

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. A seasonally-adjusted net 23 percent of businesses are planning to create new jobs, while 37 percent of business owners said they had job openings that they could not fill in July.

“Small business owners are leading this economy and expressing optimism rivaling the highest levels in history,” said NFIB President and CEO Juanita Duggan. “Expansion continues to be a priority for small businesses who show no signs of slowing as they anticipate more sales and better business conditions.”

Voters Overwhelmingly Prefer Free Market to Socialism … 74% to 13%

SORRY BERNIE SANDERS, ALEXANDRIA OCASIO-CORTEZ AND THE LEFT, AMERICA IS A CAPITALIST NATION …

According to a recent Rasmussen poll, 74% of Likely U.S. Voters prefer a free market economic system over a socialist system. Sorry Bernie Sanders and the new darling of the Democrat party, Alexandria Ocasio-Cortez. The Democrat party finds itself moving farther and farther to the left and socialism as an overwhelming majority of Americans prefer a free market economic system. Democratic National Committee Chairman Tom Perez previously stated that Alexandria Ocasio-Cortez “represents the future of our party.” Really, a self-proclaimed democratic socialist, Ocasio-Cortez, is the future of the Democrats in a country that prefers free markets? Democrats are about to drive off the political cliff. If any of you actually thought or think self-proclaimed socialist Bernie Sanders has a chance of being elected, you are delusional. The idea that Democrats are purposely attaching themselves to socialism is amazing.

 In New York, a Democratic Socialist candidate just unseated a near-20-year veteran in one of the state’s Democratic congressional primaries, and she contends she represents the Democratic Party’s future. But voters reject socialism in no uncertain terms.

A new Rasmussen Reports national telephone and online survey finds that 74% of Likely U.S. Voters prefer a free market economic system over a socialist system. Only 13% think socialism is a better economic system, and just as many (13%) are undecided. (To see survey question wording, click here.)

Blue wave, huh?

JOBLESS CLAIMS 44 YEAR LOW … US Weekly Jobless Claims Total 218,000, vs 224,000 Expected

MAKING AMERICA GREAT AGAIN …

The President Donald Trump economy continues to amaze. According to CNBC, state jobless claims dropped 4,000 to a seasonally adjusted 218,000 for the week ended June 9, and a 44 year low.  Couple this with historic low unemployment rates, all time low black unemployment rates, and all time low female unemployment rates. The economy is fantastic and people are prospering under President Donald Trump.

New applications for U.S. unemployment benefits unexpectedly fell last week and the number of Americans on jobless rolls declined to a near 44½-year low, pointing to a rapidly tightening labor market.

Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 218,000 for the week ended June 9, the Labor Department said on Thursday. Claims data for the prior week was unrevised.

Economists polled by Reuters had forecast claims rising to 224,000 in the latest week. The Labor Department said claims for Maine and Hawaii were estimated last week.