Friday’s jobs report came in stronger than expected, with the best wage growth since 2009.
Republicans are jumping all over the report, using it as proof the economy is humming ahead of Tuesday’s midterm elections.
Friday’s jobs report just gave President Donald Trump and Republicans a little extra ammunition heading into the home stretch of the midterm election season.
The report was strong across the board. The addition of 250,000 jobs in October, well above economists expectations of 200,000 jobs added, also came with the strongest wage growth since April 2009 with average hourly earnings increasing at a 3.1% pace year-over-year.
Republicans pointed to the strong wage and job growth numbers as proof that the party’s tax cuts and economic policies had helped grow the economy.
“While Democrats again this week pledged to raise taxes on hardworking Americans and take more money away from Main Street businesses, Republicans know our workers deserve a pro-growth economy like the one we’re seeing that truly works for them,” said Rep. Kevin Brady, the chair of the House Ways and Means Committee and an author of the tax law.
The jobs report is a helpful data point for Republicans given that the GOP tax law, called the Tax Cuts and Jobs Act or TCJA, does not poll well. Most Americans believe the benefits of the law are disproportionately tilted toward wealthier Americans and corporations, but the jobs number could give Republicans a stronger case that more benefits have made their way to all Americans.
Rep. Karen Handel, who is running for reelection in Georgia’s 6th district, gave an example of the party’s possible pitch.
“My opponent called the tax cuts a ‘scam,'” Handel tweeted. “She wants to repeal them and raise your taxes. Yet month after month, the economic news gets better. Today’s jobs report far exceeded projections!”
Handel’s seat, which she won in a closely followed special election in 2017, is rated lean Republican by the Cook Political Report.
Read more: Jobs report beats big as wages grow at their fastest pace since 2009»
The GOP is expected to cheer strong numbers. But even Jason Furman, the former chair of the Council of Economic Advisers under President Barack Obama, admitted that some of the growth was likely attributable to the tax cuts.
“The 213,000 jobs per month in 2018 (to date) is a marked upshift from the 182,000 last year,” Furman tweeted. “The combination of tax cuts and spending increases have …read more
Source:: Business Insider