Couple this with the first 3.0%+ annual growth rate in GDP since GWB was president. Obamas “new normal” on the economy is only “normal” if you pursue the failed policies of the left. Sorry, not sorry, that liberal, progressive and social democratic policies are the policies of failure. Government data, prepared overwhelmingly by leftists, bears this out.
Help Wanted—More Than Ever
The highest reading on small-business hiring plans in the 44-year history of the NFIB survey.
James FreemanDec. 7, 2017 12:45 p.m. ET
Small businesses are planning a record-breaking hiring binge, according to the latest monthly jobs report from the National Federation of Independent Business. The big challenge is finding workers to fill the new jobs. In November the firms surveyed were not able to expand their workforces.
Among these small businesses, “a seasonally adjusted net 24 percent plan to create new jobs, up 6 points to a record high reading,” according to the NFIB report, which will be released this afternoon.
“We have never seen this kind of intensity around job creation in the 44-year history of the NFIB Jobs Report,” says NFIB President and CEO Juanita Duggan. “This is a powerful signal that small business is roaring back to life and ready to lead another period of economic expansion.”
“Hiring plans were strongest in construction (23 percent net of reductions), manufacturing (25 percent net) and professional services (26 percent net),” according to NFIB, which is expecting strong economic growth in the fourth quarter.
“Small business owners believe that next year will bring opportunities to grow,” according to NFIB Chief Economist Bill Dunkelberg. “They feel very good about the new management team in Washington, they expect Congress to reduce their taxes, and their customers are spending more money. All of that leads to higher demand for workers.”
But for now small businesses are having trouble finding them. They’re having such trouble in fact that “business owners reported a seasonally adjusted average employment change per firm of 0.0 workers,” according to the forthcoming report. “Fifty-two percent reported hiring or trying to hire (down 7 points), but forty-four percent (85 percent of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill.”
This suggests that wages should be rising and it appears that they are. “Reports of higher worker compensation were unchanged at a net 27 percent, historically very strong all year,” according to the NFIB report.
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Small business owners may become even more bullish when they read a letter Rep. Warren Davidson (R., Ohio) will be sending along with more than 50 of his House colleagues to Speaker Paul Ryan and Ways and Means Chairman Kevin Brady. In a message that may be delivered as soon as this afternoon, the signatories are urging Messrs. Ryan and Brady to keep one particular priority in mind as they negotiate a tax compromise with the Senate:
...we strongly urge you to pursue a solution in conference that repeals the estate tax. We are concerned about the current Senate plan, which falls short of the long term Republican goal by providing only temporary relief while leaving the death tax in place. The Senate’s temporary policy would provide no certainty to business owners planning for succession and do nothing to cut down on expensive estate planning costs associated with the death tax.The Republican majority was largely elected because of a movement across America to move to sounder fiscal policy and reform our ailing tax code. A vote to repeal the estate tax would accomplish both of those things. A study by the nonpartisan Tax Foundation shows that repeal would create 159,000 new jobs and increase GDP by nearly one percent over a decade. This increase in GDP and new jobs would bring in enough revenue to nearly offset the loss of revenue from repeal.
The signatories were encouraged this week to learn that Rep. Kristi Noem (R., S.D.), a fierce opponent of the estate tax, is serving on the conference committee charged with crafting a final tax reform bill.
***
Help Wanted—More Than Ever
The highest reading on small-business hiring plans in the 44-year history of the NFIB survey.
James FreemanDec. 7, 2017 12:45 p.m. ET
Small businesses are planning a record-breaking hiring binge, according to the latest monthly jobs report from the National Federation of Independent Business. The big challenge is finding workers to fill the new jobs. In November the firms surveyed were not able to expand their workforces.
Among these small businesses, “a seasonally adjusted net 24 percent plan to create new jobs, up 6 points to a record high reading,” according to the NFIB report, which will be released this afternoon.
“We have never seen this kind of intensity around job creation in the 44-year history of the NFIB Jobs Report,” says NFIB President and CEO Juanita Duggan. “This is a powerful signal that small business is roaring back to life and ready to lead another period of economic expansion.”
“Hiring plans were strongest in construction (23 percent net of reductions), manufacturing (25 percent net) and professional services (26 percent net),” according to NFIB, which is expecting strong economic growth in the fourth quarter.
“Small business owners believe that next year will bring opportunities to grow,” according to NFIB Chief Economist Bill Dunkelberg. “They feel very good about the new management team in Washington, they expect Congress to reduce their taxes, and their customers are spending more money. All of that leads to higher demand for workers.”
But for now small businesses are having trouble finding them. They’re having such trouble in fact that “business owners reported a seasonally adjusted average employment change per firm of 0.0 workers,” according to the forthcoming report. “Fifty-two percent reported hiring or trying to hire (down 7 points), but forty-four percent (85 percent of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill.”
This suggests that wages should be rising and it appears that they are. “Reports of higher worker compensation were unchanged at a net 27 percent, historically very strong all year,” according to the NFIB report.
***
Small business owners may become even more bullish when they read a letter Rep. Warren Davidson (R., Ohio) will be sending along with more than 50 of his House colleagues to Speaker Paul Ryan and Ways and Means Chairman Kevin Brady. In a message that may be delivered as soon as this afternoon, the signatories are urging Messrs. Ryan and Brady to keep one particular priority in mind as they negotiate a tax compromise with the Senate:
...we strongly urge you to pursue a solution in conference that repeals the estate tax. We are concerned about the current Senate plan, which falls short of the long term Republican goal by providing only temporary relief while leaving the death tax in place. The Senate’s temporary policy would provide no certainty to business owners planning for succession and do nothing to cut down on expensive estate planning costs associated with the death tax.The Republican majority was largely elected because of a movement across America to move to sounder fiscal policy and reform our ailing tax code. A vote to repeal the estate tax would accomplish both of those things. A study by the nonpartisan Tax Foundation shows that repeal would create 159,000 new jobs and increase GDP by nearly one percent over a decade. This increase in GDP and new jobs would bring in enough revenue to nearly offset the loss of revenue from repeal.
The signatories were encouraged this week to learn that Rep. Kristi Noem (R., S.D.), a fierce opponent of the estate tax, is serving on the conference committee charged with crafting a final tax reform bill.
***
