Increased economic growth in 2020 will follow November’s strong jobs report

The Bureau of Labor Statistics just reported that 266,000 new jobs were added to the economy in November. This figure easily surpassed the 2019 monthly average of about 170,000. In addition, employment figures for both September and October were revised upward. (Jobs growth soars in November as payrolls surge by 266,000 — CNBC Economy) America is in a surge of strong economic growth.

The strong hiring means that economic growth is likely to increase next year.

President Trump has set growth as his top economic priority. That reverses the top priority of the prior administration that set curing perceived social injustices as the top policy goal. For instance, the Obama administration thought it was an injustice that all Americans did not have health insurance. It was an injustice that banks took advantage of consumers. And it is an injustice that CEOs earn so much more than the average workers.

Curing perceived social injustices reduce economic growth

Each time action was taken to cure those perceived social injustices, economic growth slowed. To solve the health care issue, the Affordable Care Act (ACA) was passed which eventually required nearly all employers to offer health insurance to every employee or pay a $3,000 fine.