In the Trump economy, financial news outlets report that payrolls grew in July more than economists predicted.
According to CNBC, the reason that private sector payrolls grew so much was because of the boost that businesses got from the Trump tax cuts. Once again, despite dire predictions, Donald Trump and the Republicans are doing things that many said were impossible.
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Private payrolls in the U.S. increased by more than expected last month as companies get a boost from lower corporate taxes, ADP and Moody’s Analytics said Wednesday.
Jobs in the U.S. increased by 219,000 in July, while economists polled by Reuters expected a gain of 185,000. July’s job gains were the best since February, when 241,000 jobs were added. Jobs growth for the previous month was also revised up to 181,000 from 177,000.[…]
Medium-sized businesses, which employ 50 to 499 people, added the most payrolls in July as they created 119,000. Larger businesses, meanwhile, expanded their payrolls by 48,000. Small businesses, which employ one to 49 people, say payrolls grow by 52,000.
Service-providing companies expanded their payrolls by 177,000 […].
The Conservative Tree House elaborates: “MAGAnomics – ADP Private Payrolls: 219,000 Jobs Gained, 23,000 More Manufacturing Jobs….”
Overall Blue and White Collar job gains are very strong. In the aggregate the supply chain for all goods-producing industries are struggling to keep up with demand as the economy continues to expand due to America-First growth and investment. A good problem to have.
The trade and transportation sector added 21,000 jobs; a direct response to the need for material shipments and factory replenishment. Raw materials (inbound) and finished goods (outbound) all lead to an increase in transportation jobs.
The jobs growth is across all business sizes: small (1-49 employees); medium (50-499) and large business (500+) are all seeing growth in jobs.
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