If you are a follower of Supplierty News, then you are aware of my writings on small business and the economy under the Trump administration. While I do think in general the economy is moving in a positive direction, I have consistently pointed out that, outside of confidence metrics, there has not been any actual economic signs that point to the current administration being much better than the last. While this may change in the future, for now my writings are proven true. According to Paychex, the “Small Business Jobs Index closed the year at 99.70 after falling 0.16 percent in December and 0.78 percent for the year.”
The Small business hourly rate for the nation finished the year at $26.14 on average, “up 2.76 percent year over year and 2.85 percent for 2017.” With the economic growth rate hitting over 3% for multiple quarters, the lack of small businesses joining in on the success should raise a bit of alarm. The new Trump tax reform may change this but in the short term, the current trend continues to prove that the wealth gap in America is steadily increasing. How the GOP plans to change this remains to be seen.