The labor market has improved under President Donald Trump to the point where people are now worrying that it might be too supercharged, Andrew Puzder wrote in a column for The Wall Street Journal.
The tax cuts legislation passed by Trump and Republican lawmakers as well as the massive rollback of stifling regulations by the president have effectively removed the roadblocks to growth, Puzder writes.
And growing it is.
“While we are only 18 months into the Trump administration, data from the Bureau of Labor Statistics also back up these perceptions,” Puzder writes.
“In June the number of people working full-time jobs was a record high 129 million, while the number of people working part-time jobs because they couldn’t find full-time employment was below 4.7 million.
“The latter number hasn’t been this low since December 2007. And in March the number of job openings exceeded the number of people actively looking for work — the first time that’s happened since the BLS started counting. This happened again in both April and May,” writes Puzder, a one-time nominee for Labor Secretary under Trump before removing his name from consideration.
“Removing roadblocks to growth by reducing taxes and regulations appears to be working. In 18 months, we’ve gone from an economy in which workers were unable to find good jobs to an economy in which employers are unable to find enough workers to fill these jobs,” Puzder wrote.
“The early signs of a capitalist comeback are encouraging.”
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