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Home > Analysis, Economy, Manufactured Housing Industry, regulation > Labor Day Origins, U.S. Income and Job Growth, is the Trump Administration’s plan working?

Labor Day Origins, U.S. Income and Job Growth, is the Trump Administration’s plan working?

September 4th, 2017
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Featured image credits, MHProNews/Pixabay.

Over the years holidays change, and some can tend to lose their original meaning.

For Labor Day, the holiday was meant to recognize the working class.  While that meaning isn’t forgotten, today the holiday has become a marker for the transition from the summer into fall.

Millions today enjoy BBQs, swimming, or other ways of celebrating the end of the summer months. Meanwhile, millions of others will work today. In that dichotomy, some see wisdom in taking a few moments to remember why the holiday was created in the first place.

To celebrate the average worker and his contribution to society.

Labor Day Origins

The first ever Labor Day celebration on record, per the U.S. Census Bureau, was likely September 5, 1882. On that day, around 10,000 workers in New York gathered for a parade.

Over the next couple years, similar celebrations popped up throughout the nation.

It was 1894 that then President Grover Cleveland signed the bill officially designating the first Monday in September as Labor Day.

The problem with declaring a single “founder” of Labor Day is that, at the time, no one realized that a new national holiday was being born. It was only after the fact that people tried to pinpoint a single founding father,” said Linda Stinson, a former U.S. Department of Labor’s historian, per AL.

So the historical conundrum seems to hinge on the fact that the two names sound alike and were probably mixed up in the common consciousness. Toss in the years of bitter rivalry between the American Federation of Labor and the Knights of Labor and, of course, you’re going to have multiple heroes emerging in the legend of Labor Day.”

An Overview of U.S. Labor Statistics

The unemployment rate in the United States, as of August 2017, is 4.4 percent, per the U.S. Bureau of Labor Statistics (BLS). This number has remained stable since April, at 4.3-4.4 percent each month as we reach what some economists are calling “full employment.”

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Unemployment rates in the U.S. from August 2015 to August 2017. Image credit, U.S. Bureau of Labor Statistics.

You can download the full report from the U.S. Bureau of Labor Statistics here.

Over the last few years the unemployment rates have continued to drop. Now, incomes are finally starting to rise as well.

You can download the “Income and Poverty in the United States: 2015” report from the U.S. Census Bureau here.

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Click the image above to download the Income and Poverty in the United States: 2015 report from the U.S. Census Bureau. Image credit, U.S. Census Bureau.

More recently, a report from Sentier Research says that annual household incomes have increased to $59,361 as of April 2017.

This is up 2 percent from January, and a record-high since February of 2002.

There is debate over whether this is just the economy finally leveling out again after the recession, or if this points to positive impacts of the Trump Administration since the inauguration in January, per Investors.

According to the U.S. Census Bureau, 159.8 million people age 16 and older currently make up the U.S. workforce, as of May 2017.

How These Statistics Apply to the Manufactured Housing Industry

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Image credit, AL.

Many of the occupations on the list to the left are being served by professionals in the manufactured housing (MH) industry. Some of those retail sales people also sell manufactured homes.

Other occupations found within the industry include customer service reps, general and operations managers, general laborers, administrative assistants and more.

Another important note for industry professionals, is that with income growth will come more people looking to buy homes.

For families making under the median income, who have still seen increases in their annual income, manufactured homes are the ideal option for quality and affordability.

With the proper local promotion of the benefits of manufactured homes – especially as news about FEMA, HUD and others rushing to get Hurricane Harvey survivors out of shelters and into homes – many more might look towards the more affordable and durable option for housing.

Is the Trump Administration Improving the Job Markets?

President Trump, during his campaign, promised that he would create more jobs than any other president.

So far, there have been over a million jobs created since Trump took office in January, per Politico.

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Image credit, New York Daily News.

Last week when the Labor department announced that 209,000 jobs were added in July, president tweeted, “Excellent Jobs Numbers just released – and I have only just begun. Many job stifling regulations continue to fall. Movement back to USA!”

Plans the Trump Administration have for increasing jobs and wages in the U.S. include cutting down on illegal immigrants coming into the U.S., loosening restrictions and regulations, tax reform and a repeal-and-replace of ObamaCare, new trade deals and more. This can all have a positive impact on job creation and boosting wages.

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However, just on what the administration has gotten done so far, the economy has already seen improvements, as the Daily Business News has previously reported.

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Unemployment is the lowest it’s been in years – and the nation has nearly reached “full employment.” On top of that, wages are – albeit too slowly for many – on the rise after years of being stagnant.

Happy Labor Day, from MHProNews!  As the markets are closed, their is no stock market report today. ## (News, analysis.)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

JuliaGranowiczManufacturedHomeLivingNewsMHProNews-comSubmitted by Julia Granowicz to the Daily Business News for MHProNews.

 

 

 

 

 


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