Annual Census Bureau Report Shows Benefits of the Strong Economy Helping All Americans
Following another "unexpectedly" good jobs report last week, the U.S. Census Bureau's annual report - “Income and Poverty in the United States: 2017” - was released yesterday with updated data on U.S. household and family income and earnings through 2017.
The Los Angeles Times reports:
With unemployment steadily declining and more people working full time in year-round jobs, household incomes in the United States rose moderately last year, and the nation’s poverty rate fell to the lowest point in more than a decade.
The Washington Post reports:
Middle-class income rose to the highest recorded levels in 2017 and the national poverty rate declined as the benefits of the strong economy lifted the fortunes of more Americans.
The Wall Street Journal reports:
President Trump’s deregulation has unshackled business animal spirits while tax reform has boosted capital investment, which is starting to show up in greater worker productivity and higher wages. Minorities and less skilled workers left behind by the Obama economy are finally catching up.
The Obama years demonstrated how sensitive U.S. businesses and workers are to anti-growth policies while the Trump economy is demonstrating their pro-growth liberation.