January Jobs Report: Strong hiring leads to greater wage growth
The economy started off 2018 on a strong note, with employment gains surprising on the upside. Job growth has slowed in the past two years but remains solid. A tighter labor market may finally be translating into greater pay increases for workers—wages saw their largest increase since 2009 in January. Hiring was broad-based and robust in the construction, manufacturing, food services and health care sectors, with employment continuing to trend upward.
The Tax Reform Act: The impact of the SALT deduction on real estate
Eliminating the SALT deduction will ultimately reduce aggregate spending on public education, infrastructure, public safety and other locally and state-funded services. Many in Congress believe improving such services is necessary to make the U.S. more productive and competitive and to grow its economy. Ironically, eliminating SALT could have the opposite effect.