Unemployment rate hits a 50-year low! The news goes on and on about how we are hitting new highs and new lows. But there’s always a winner and loser in everything.
With unemployment so low, this puts the employer at a disadvantage finding great employees. Another loser here unexpectedly is the worker as increases in pay fell to 2.9% from 3.2% over the past 12 months.
None the less 136,000-223,000 job growth per month is a good indicator of the economy.
I’m sure nearly everyone noticed a slight decrease in their taxes. But for corporate this was a big help. To put it in numbers in 2017 we paid up to 39% in taxes in 2018 we paid a flat rate of 21% this helps us give back to our employees and put us in a better position for the next year to make large investments. Including new hammer drill bits, rotary hammers, HVAC's, portable generators, chainsaws, handsaws, core drills, diesel engine diagnostics computer for each location and exclusively for our Orlando office a new 2019 Mack dump truck. What may not be known to many, is that Speedy is having a stellar year. To be notably mentioned is our Tampa and Jacksonville offices, Tampa has nearly doubled their net profit compared to prior year and Jacksonville has exceeded prior year revenue and doubled their net profit. All of this is part of a couple of other factors have helped us give to the whole Speedy family a favorable profit-sharing package. So, thank you to the whole Speedy family for making this possible.
“Bureau of Labor Statistics Data.” U.S. Bureau of Labor Statistics, U.S. Bureau of Labor Statistics, https://data.bls.gov/timeseries/LNS14000000.
Robb, Greg. “U.S. Adds 136,000 Jobs in September, Unemployment Rate Hits 50-Year Low.” MarketWatch, 4 Oct. 2019, https://www.marketwatch.com/story/us-adds-136000-jobs-in-september-unemployment-rate-hits-50-year-low-2019-10-04.