Washington, D.C.—Today, the Job Creators Network (JCN) highlighted the 313,000 new jobs created in February and the continued low unemployment rate of 4.1% percent, according to the Bureau of Labor Statistics February Employment Situation Summary. Furthermore, wages rose by 4 cents in February, a 2.6 percent year-over-year increase.
The spike in new jobs is partially due to the recent implementation of the Tax Cuts and Jobs Act—which has significantly reduced the tax burden on businesses and other hardworking taxpayers. As businesses are shelling out less money to Uncle Sam, they can invest those resources into hiring more people, raising wages, investing in new equipment, and expanding operations. The spur of economic activity has also contributed to rising consumer confidence. According to recently released University of Michigan data, the consumer sentiment index has reached 99.7—up 4.2 points since January and 3.5 points since this time last year.
“The economic vibrancy we’ve seen as a result of the tax relief package is proof that allowing businesses and consumers to keep more of their own money is a catalyst for growth and prosperity,” said Alfredo Ortiz, JCN President and CEO. “For the sake of all Americans, let’s hope that Democratic efforts to walk back the Tax Cuts and Jobs Act are unsuccessful.”