December 15,2017
the staff of the Ridgewood blog
Washington DC , President Trump is touting his administration’s progress on deregulation, according to the President for every one new regulation an amazing 22 are eliminated. Trump said the goal is to get the stack of regulations smaller than that of the 1960’s.
According to the Wall Street Journal ,” the biggest change has been in U.S. economic policy, notably the Trump Administration’s deregulatory efforts and the boost they have given business confidence.”
The Labor Department reported Friday December 8th that the U.S. created 228,000 net new jobs in November, in the latest sign that the American economy is growing at a healthier pace.
The Bureau of Labor Statistics (BLS) shows that nonfarm payrolls grew by 228,000 jobs in November, with gains across all sectors except information and utilities. The pace in November is higher than the 2017 average of 174,000 per month, and 1.7 million jobs have been added since January. The November unemployment rate matched October’s rate of 4.1 percent, which was the lowest rate in more than 16 years (since December 2000).
For Hispanic workers, the 4.7 percent unemployment rate in November was the lowest in at least 44 years.
Meanwhile, the Commerce Department revealed Wednesday that the GDP expanded at a 3.3 percent rate in the third quarter after being adjusted for seasonal factors and inflation. That’s the first time since 2007 that quarterly economic output exceeded the Congressional Budget Office’s estimate of its “maximum sustainable level,” the Wall Street Journal reported .
