Guest post by Joe Hoft
The Bureau of Labor Statistics announced yesterday the jobs and wages are way up from only one year ago when looking at the largest U.S. counties.
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According to yesterday’s Bureau of Labor Statistics release of county employment and wages, the US economy is growing at an incredible rate (emphasis added) –
From March 2017 to March 2018, employment increased in 314 of the 349 largest U.S. counties, the U.S. Bureau of Labor Statistics reported today. Midland, Texas, had the largest percentage increase with a gain of 12.6 percent over the year, above the national job growth rate of 1.6 percent. Within Midland, the largest employment increase occurred in natural resources and mining, which gained 5,728 jobs over the year (26.5 percent). Kanawha, W.Va., had the largest over-the-year percentage decrease in employment among the largest counties in the U.S., with a loss of 1.4 percent. Within Kanawha, the largest employment decrease occurred in state government, which lost 390 jobs (-3.4 percent) over the year.
The U.S. average weekly wage increased 3.7 percent over the year, growing to $1,152 in the first quarter of 2018. Peoria, Ill., had the largest over-the-year percentage increase in average weekly wages, with a gain of 23.8 percent. Within Peoria, an average weekly wage gain of $1,802 (60.6 percent) in manufacturing made the largest contribution to the county’s increase in average weekly wages. Forsyth, N.C., had the largest over-the-year percentage decrease in average weekly wages with a loss of 4.8 percent. Within Forsyth, professional and business services had the largest impact on the county’s average weekly wage change with a decrease of $304 (-18.7 percent) over the year.
Employment is record breaking. The US GDP has never been greater and up 4.1% last quarter. Unemployment is at record lows. The stock markets are reaching record highs. Wages are up. Taxes are way down.
The billionaire President’s economy is on fire!