President Trump delivers remarks during a meeting between federal and state leaders. The conference is held to emphasize coordination between federal officials and their direct contacts at the state level.
You might remember when CTH shared the following wage growth estimate:
[…] I’m not going to dismiss the possibility we could see double digit increases in year-over-year wage growth in multiple economic sectors in several regions of the U.S. –link–
Trucking Company President Nicholas Hobbs is now saying he projects a twenty percent increase in wages for truck drivers due to extreme demand. That’s MAGAwinnamins!
Secretary of Transportation Elaine Chao discusses efforts to address the truck driver shortage in America.
Earlier today President Donald Trump welcomed a group of American workers into the Oval Office for a discussion of removing “red tape” and barriers to economic expansion.
For more than three decades all U.S. economic policy was elevating Wall Street and diminishing Main Street. As a result the middle America blue-collar workers have not had wage gains keeping up with inflation for over 30 years… Then came the era of Trump.
MAGAnomic policy is based around a very simple free-market process. Increase domestic economic investment; expand new business and expansion in existing business; that expands the need for employment; drive those jobs, jobs, jobs and watch wages rise naturally as employers compete over an increasingly valuable labor pool.
Business Insider – The pharmacy-chain owner Walgreens Boots Alliance announced Thursday that it will make investments of about $150 million to boost mainly its in-store wages in fiscal 2019 in wake of President Donald Trump’s tax reforms.
[…] US retailers are scrambling to keep workers as they look for opportunities with higher pay and attractive benefits. The US unemployment rate fell to a 48-year low of 3.7% in September. According to the Bureau of Labour statistics, there were 757,000 retail-job openings across the United States in July, which is about 100,000 more than a year ago.
U.S. Agriculture Secretary Sonny Perdue discusses the U.S. Mexico-Canada trade agreement and the positive impacts for U.S. farmers with increased open markets.
About two-thirds of the way through the interview the national FEMA alert message was tested. Secretary Perdue cracks me up: “I get those presidential alerts in a different way”…
Hold on to your MAGA caps there’s a winner wonderland ahead. According to the latest ADP private payroll release today, private sector payrolls grew by a stunning 230,000 jobs in September. [They were anticipating 185k] Massive jobs gains amid small, medium and large sized companies (report here).
This comes on the heels of the latest stats on paychecks which show *average* wage gains around 2.6% over last year. Key word “average“. There are multiple job sectors with wage increases of four to seven percent; well above the rate of consumer price inflation.
(Via CNBC) Job growth surged in September to its highest level in seven months as the economy put up another show of strength, according to a report Wednesday from ADP and Moody’s Analytics.
Private companies added 230,000 more positions for the month, the best level since the 241,000 jobs added in February and well ahead of the 168,000 jobs added in August.
Earlier today President Trump delivered remarks in the Rose Garden of the White House announcing the USMCA (U.S-Mexico-Canada-Agreement) trade construct. The agreement covers $1.2 trillion in annual trade.
Joining President Trump is: U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin, DHS Secretary Kirstjen Nielsen, Commerce Secretary Wilbur Ross, Agriculture Secretary Sonny Perdue, National Economic Council Chairman Larry Kudlow, Ambassador Kelly Craft, White House Advisor Jared Kushner, Trade Council Peter Navarro and Chris Liddell, with Deputy U.S. Trade Representative CJ Mahoney.
Make sure to hear the remarks from Ambassador Lighthizer @25:41
National Economic Council Director Larry Kudlow discusses administration’s new trade agreement with Canada and Mexico. Chairman Kudlow also discussed the trade negotiations between the U.S. and China.
U.S. Commerce Secretary Wilbur Ross gives an interview to Fox Business Maria Bartiromo and discusses the United States-Mexico-Canada Agreement (USMCA). Secretary Ross notes the gains in e-commerce and the dairy industry. Also worth noting, the Steel and Aluminum tariffs remain in place.
10:30pm EST – The U.S. and Canada have agreed on a trade deal that would save the North American Free Trade Agreement as a trilateral bloc, according to three people familiar with the matter.
President Donald Trump has approved the developments and the expectation is that an agreement will be announced on Sunday night, according to the people, who spoke on the condition of anonymity. U.S. Trade Representative Robert Lighthizer and Canadian officials are working on the final touches. (more)
All day various media have been reporting on desperate, intense, and generally fast-moving last minute negotiations as a midnight deadline looms for Canada to join the U.S-Mexico trade agreement. Expect the critical details to be framed around “Side Letters”. Carve-outs within an agreement which remove the contentious aspects.
Canadian Foreign Minister Chrystia Freeland abandoned a U.N. speech to rush back to Canada on Friday night. Tonight Canadian Prime Minister Justin Trudeau went to Ottawa to join the Canadian negotiating team in a series of back-and-forth conference calls between the U.S. and Canadian government. USTR Robert Lighthizer and trade envoy Jared Kushner have been briefing President Trump throughout the day.
OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau called a late-night Cabinet meeting for Sunday amid signs that Canada and the United States were on the verge of sealing a deal to update NAFTA after frantic talks.
Negotiators from both sides spent two days talking by phone as they tried to settle a range of difficult issues such as access to Canada’s dairy market and U.S. tariffs.