The Federal Reserve will meet this week to assess an economy experiencing a lot of growth. This growth is threatened by threats of a trade war. “Tightening now hurts all that we have done,” Trump tweeted earlier this month, a day after he said in a television interview that he was “not happy” with the Fed’s rate increases. The fed is not expected to raise its rates. READ MORE HERE
Month: July 2018
Will job growth top expectations again In the second half of the year?
The labor market seems to have defied gravity in the first half of 2018. Job growth averaged a robust 215,000, up from 182,000 last year. There has been strong job and income growth, as well as tax breaks leaving more money in customers paychecks. READ MORE HERE
NAM and other business groups seek changes to OSHA regulation roll back
The Trump administration has proposed loosening some regulations that burdened employers with an increased amount of detail in workplace incident reports. But employers want OSHA to make more changes to the agency’s July 30 proposal to undo other regulations related to drug testing and safety incentive programs. OSHA’s current regulations prohibit some safety programs that provide incentives when a workplace does not have reported injuries for a certain period of time. For example, a plant that provides a bonus if the plant does not have reportable injuries for six months, could run afoul of the current regulations. While plant management understands the importance of these incentive plans, some believe the incentive plans could cause injuries that otherwise would be reported to OSHA to not be reported. If properly structured, such incentive plans can be used to properly raise awareness of safety regulations on the shop floor and increase workplace safety. Two federal lawsuits by the NAM and the U.S. Chamber
read more NAM and other business groups seek changes to OSHA regulation roll back
GDP Grows at Fastest Rate Since 2014, with Tax Reform Powering Manufacturers Forward
The Bureau of Economic Analysis stated the U.S. economy grew by an annualized 4.1 percent in the second quarter of 2018. This is the fastest rate since 2014. Tax reform and regulatory relief have sparked a job growth. NAM reported a record business optimism of member companies. READ MORE HERE
Pro-union entity is source of “study” showing wages lower in Right to Work states
The Missouri Times recently published an article based on “study” that shows lower wages in Right to Work states. This “study” was issued by a biased entity that opposes Right to Work, the “Economic Policy Institute.” A simple Google search shows the organization issuing the study, Economic Policy Institute (EPI), is an organization that receives funding from unions and supports union causes. Hardly a reliable or unbiased source of information. The EPI not only issued the report cited in the Missouri Times article, they also previously issued a “study” entitled, “How today’s unions help working people”: https://www.epi.org/publication/how-todays-unions-help-working-people-giving-workers-the-power-to-improve-their-jobs-and-unrig-the-economy/ The EPI also worked to support the Employee Free Choice Act, federal legislation that would have effectively ended secret balloting when unions are trying to organize in a business: https://www.epi.org/publication/ib249/ The Missouri Times article was based on a biased source that opposes Right to Work, not just in Missouri, but nationally. Associated Industries of Missouri supports Right to Work and are not afraid to announce
read more Pro-union entity is source of “study” showing wages lower in Right to Work states
Mid-Missouri Business Week: AIM President McCarty talks tax reform and internet taxes on KMIZ
Source: Mid-Missouri Business Weeks: tax reform rolls out in Missouri, helps businesses – KMIZ
NAM: Monday Economic Report
The U.S. economy grew by an annualized 4.1 percent in the second quarter of 2018, the best reading since the third quarter
U.S. Steel is back
“Hiding in plain sight in a suburb of St. Louis is one of the great success stories of President Donald J. Trump’s tough trade policies,” National Trade Council Director Peter Navarro stated. “This is the rebirth of the Granite City steelworks, idled in 2015 — along with about 2,000 steelworkers — under a drowning flood of subsidized foreign imports.” President Trump visited Granite City yesterday. “Our steel towns became ghost towns. More than 70,000 hardworking Americans lost their jobs, their hope, and their way of life,” President Trump told workers in Illinois. “After years of shutdowns and cutbacks, today the blast furnace here in Granite City is blazing bright.” For the first time on record, “there are more job openings in the economy today than there are people looking for jobs,” Labor Secretary Alex Acosta told students during a visit with President Trump to Northeast Iowa Community College. That statistic is crucial for Americans on welfare, as work programs offer
NAM: Senate Passage of Miscellaneous Tariff Bill “a Significant Step Forward for Manufacturers
National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement on the unanimous passage of H.R. 4318, the Miscellaneous Tariff Bill (MTB) Act of 2018, by the U.S. Senate: “This is a significant step forward for manufacturers, who, along with other businesses, are losing nearly $1 million every day until this bill becomes law,” said Timmons. “Right now, manufacturers are hit with costly, senseless taxes any time they buy products or supplies that aren’t available in the United States. It makes no sense because it is a direct and punishing tax on making things in America and for creating jobs in America. This bill ends that unfairness and helps manufacturers in the United States better compete for business with companies in China, Europe and elsewhere. Manufacturers need Congress to get this done—to level the playing field and secure the jobs of American manufacturing workers. We urge the House to act quickly, pass the Senate version of
Economic growth hits 4.1 percent for second quarter
The U.S. economy experienced a 4.1 percent jump in the April to June quarter. This is the highest level in almost 4 years. the Commerce Department said on Friday. Officials for the Trump administration stated it was a sign that the economy could expand at a 3 percent annual rate for the first time since 2005. Consumer spending rose 4 percent. Exports increased 9.3 percent from a surge in sales of soybeans. READ MORE HERE
