“YUGE” Economy: Workers pay raises are at its highest since 2008!

Article by Bryan Howard

August 1, 2018

The Economy has been in a fast rise since the Tax cuts were passed by the Trump administration. We already know Unemployment is under 4% and the GDP rose 4.1%. But it seems things get better with wages have increased also.

According to the Labor and Statistics Bureau the wages of cost index rose 2.8% which is the highest since 2008 when it was at 2.9% raise. The reason for this raise in wages is believed to be attributed to the low unemployment, which has forced companies to offer more benefits and higher wages to land employees.

The gains were broad-based. The employer cost index rose in manufacturing, construction, and services. Compensation for transportation rose 4.0 percent, bolstering arguments that the labor market is tighter in trucking than the broader economy. Compensation in sales and related jobs was up 3.5 percent compared with a year ago. Construction compensation was up 3.2 percent and manufacturing up 2.7 percent.

Wall Street pay was up sharply. Finance and insurance compensation rose 3.8 percent compared with a year ago.

It has become measurable that the Trump tax cuts have everything to do with the economy boom. If anyone says it was because of Obama they are being intellectually dishonest because we can go back and see the stock market rise the moment the tax cuts were announced.


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