President Donald Trump has made quite a few positive changes for the United States in the short time that he has been in office. One of his most recent victories is something that hasn’t happened in almost 50 years.
One of President Trump’s promises was that he would bring more jobs to the United States. According to Reuters, US worker productivity is increasing at an outstanding rate. Unemployment claims are now at a 45-year low. It seems that President Trump followed through with his promise and now more Americans than ever are back to work.
It was suspected that because of the hurricanes and wildfires across the country there would be issues with people getting back to work. Despite all speculation, there are more people working and that rising employment rate is strengthening the economy.
The Labor Department confirmed that nonfarm productivity, which is the measurement of hourly output per worker, has increased around three percent. This is the quickest pacing since the third quarter of 2014.
It was expected that the pace would reach 2.4 percent, which leads to an increase of over half a point. This is a positive change regardless of what field the average person works.
Worker productivity, as a whole, increased around 1.2 percent between the year 2007 and 2016. The long-term rate between 1947 and 2016 is 2.1 percent. The difference can be explained in citing the slowing population growth as fewer people are deciding to have children.
President Trump has assured the country that the goal of 3 percent annual for worker productivity could be met. Some experts said that would be a challenge, but as many have seen, the President seems to enjoy taking on a challenge.
The current path that President Trump taking will increase productivity by leveraging what he can in order to get large tax cuts across the board. Another way the President can achieve this goal is through steady deregulation. Former-President Barack Obama established a lot of red-tape that caused problems for business owners and slowed productivity.
Republicans in Congress are looking to cut the corporate tax rate. At the same time, they also want to reduce the number of tax brackets that are applied to individuals.
According to USA Today, the Labor Department confirmed that the number of unemployment claims went down 22,000. In total, there are 222,000 people who currently have unemployment claims. This is the fewest number of people since March of 1973.
Unemployment rates under President Trump are at a 45 year low. Will they continue to drop?
On that same note, the number of Americans actually collecting unemployment has dropped to 1.89 million. This is the lowest number since December of 1973 and down a staggering nine percent from last year alone.
These numbers mean nothing but positive things for the average American worker. The numbers suggest that employers are confident in hiring new employees to help fill positions so as to increase productivity, regardless of field. Many would call the icing on the cake the fact that Septemeber was also a 16-year-low in the unemployment rate; down to 4.2 percent.
President Trump promised the American people that he would bring more work to the United States. The numbers reflect that this is another promise kept, and another huge victory for President Trump and for Americans across the country.