03.05.18

Meanwhile, Outside The Beltway…

‘Bonuses, Rising Wages, Expanded Benefits And A Lower Taxes Are Giving Middle-Class Families A Whole Lot More Breathing Room’

SEN. MITCH McCONNELL (R-KY): “Every day, we hear about more local businesses realizing new savings and putting it toward equipment, expansion, and employees. Every day, we hear about how bonuses, rising wages, expanded benefits and lower taxes are giving middle-class families a whole lot more breathing room. … In the meantime, the economic data are painting quite an optimistic picture.” (Sen. McConnell, Floor Remarks, 3/5/2018)

‘US Weekly Jobless Claims Drop To Lowest Level Since 1969’

“The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting the lowest level in more than 48 years, pointing to a rapidly tightening labor market. Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 210,000 for the week ended Feb. 24, the lowest level since December 1969, the Labor Department said on Thursday.” (“US Weekly Jobless Claims Drop To Lowest Level Since 1969,” CNBC, 3/1/2018)

‘Real Disposable Incomes in U.S. Increase Most Since 2015’

“Americans’ wallets fattened in January on recent tax cuts, indicating increased spending power may boost the economy this quarter. Real disposable income, or earnings adjusted for taxes and inflation, advanced 0.6 percent from the prior month, the biggest gain since April 2015, according to a Commerce Department report Thursday. … Overall, nominal incomes rose 0.4 percent, more than the 0.3 percent median estimate of economists. Wages and salaries increased 0.5 percent after a 0.4 percent gain in the prior month.” (“Real Disposable Incomes In U.S. Increase Most Since 2015,” Bloomberg, 3/1/2018)

‘U.S. Consumer Confidence Rose To Its Highest Level Since 2000’

“U.S. consumer confidence rose to its highest level since 2000 in February, showing Americans shrugged off financial market gyrations earlier in the month. The Conference Board said Tuesday its measure of U.S. consumer confidence increased to 130.8 in February in from 124.3 in January. Economists surveyed by The Wall Street Journal had expected a February reading of 127.0.” (“U.S. Consumer Confidence Reaches Highest Level Since 2000,” Wall Street Journal, 2/27/2018)

‘Manufacturing In U.S. Expands At Fastest Pace Since May 2004’

“U.S. factories expanded in February at the fastest rate since May 2004, indicating sustained strength in manufacturing as demand remains solid, figures from the Institute for Supply Management showed Thursday.” (“Manufacturing In U.S. Expands At Fastest Pace Since May 2004,” Bloomberg, 3/1/2018)

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SENATE REPUBLICAN COMMUNICATIONS CENTER

Related Issues: Jobs, Economy, Middle Class