Tag: Job Creation

Commentary: New Biden Labor Dept. Rule Likely to Hurt Millions of Small Businesses, Independent Contractors

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Remote Worker

Some 99% of American companies are small businesses, and 100% of businesses started out small, but a recently finalized rule from the Biden administration’s Labor Department will make it harder for small businesses to start, grow and succeed.

As of last May 1, a White House news release pointed out, “Young firms, which often start small with few employees, are a driving force in job creation.” That’s been particularly true since the COVID-19 pandemic, as small businesses with fewer than 50 employees have accounted for a growing share of new jobs.

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Commentary: Bidenomics Is The Grinch Who Stole Christmas

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The labor market continues to soften, with 199,000 jobs created last month, well below the recent average. Real job creation is far lower than this topline number suggests. Nearly 50,000 jobs were unproductive government jobs, continuing the trend of disproportionately high government job growth. The return of striking auto workers accounted for about 30,000 jobs. And 77,000 jobs were created in healthcare, which is a quasi-government industry. That leaves only about 40,000 jobs created in the real economy.

Real wages continue to stagnate, growing at the same rate as core inflation following significant declines in the first two years of Biden’s presidency. As usual, job creation in previous months was revised down in today’s report. Nearly one million more Americans are unemployed since April.

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New Report Shows Florida Unemployment Dropping

Grant Holcomb

The Florida Department of Economic Opportunity (DEO) released their monthly unemployment figures and the state’s unemployment rate is continuing to drop. Conversely, Florida is also seeing consistent job growth from month-to-month.

According to the report, Florida’s adjusted unemployment rate was 3.2 percent in March, which was a decrease by 0.1 percent from the previous month. The national unemployment rate was hovering around 3.6 percent.

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Florida Jobs Report Shows Declining Unemployment, Indicators of Economic Growth

Grant Holcomb
Woman checking out a business

A jobs report from the Florida Department of Economic Opportunity (DEO) shows Florida is continuing to lead the county in job creation and lower unemployment rates. Florida’s unemployment rate fell to 4.4 percent in December 2021 – down 0.1 percent from November 2021.

The report indicates good news for Florida’s economy with Florida gaining 479,300 jobs throughout the entirety of 2021, which is an increase of 5.6 percent. The national jobs creation average during the same time period was 4.5 percent.

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Peloton Picks Ohio for Its First U.S. Factory

The Center Square
Peloton bike

Peloton Interactive announced plans to build its first U.S. factory in Ohio, creating more than 2,000 jobs and investing more than $400 million in the state-of-the-art factory.

The new facility, in Troy Township between Toledo and Bowling Green, will be named Peloton Output Park and will produce Peloton Bike, Bike+ and Peloton Tread starting in 2023. It will employee 2,174 people and generate $138 million in new payroll.

The state approved a 2.301%, 15-year job creation tax credit for the company.

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US Economic Growth Hits 3.2 Percent in 2019

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by Tim Pearce   The U.S. economy grew at an annualized rate of 3.2 percent in the first quarter of 2019, smashing experts’ expectations, according to the Department of Commerce (DOC) data released Friday. Economists predicted that the federal government shutdown and cold weather that slowed economic activity in parts of the country early in the year would drag down growth. Experts’ predicted that the economy would grow at a much slower rate of 2.3 percent from January to March, according to Bloomberg. The U.S. economy grew at 2.2 percent growth in the final quarter of 2018, according to Commerce Department data. The 2019 growth is being driven largely by companies restocking inventories and a shrinking trade deficit with foreign countries. State and local governments’ spending also stimulated some growth, according to The Washington Post. Typically, the first quarter of the year is the one with the weakest growth, though experts are predicting that to change in 2019, WaPo reports. President Donald Trump has pledged to bring the U.S. economy to 3 percent growth rates or better. Over the course of 2018, the economy grew at an average pace of 2.9 percent, tying the highest growth rate of the Obama…

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