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NFIB Weekly News

NFIB Weekly News Leading the News

Rate Hike Shows Fed Sees Stronger Economy. (06/20/2017)

Media reports cast the Federal Reserve’s decision to raise interest rates as a good sign for the economy. The Los Angeles Times (6/14, Puzzanghera, Lee) reported that “Federal Reserve policymakers” implemented “their third small hike in a key interest rate in six months, a move that will push it above 1% for the first time since the 2008 financial crisis.” It was “another validation of the recovery from the Great Recession.” The Wall Street Journal (6/14, Timiraos, Subscription Publication) ran a similar analysis of the Fed’s motives, and the New York Post (6/14, Dugan) reported the Fed made its decision “as unemployment in the US has continued to fall and consumer confidence has risen.” Likewise, Business Insider (6/14, Oyedele) said the Fed was “signaling that it believes the economy is healthy enough to withstand tighter financial conditions,” Reuters (6/14, Dunsmuir, Schneider) that it cited “continued US economic growth and job market strength,” the New York Times (6/14, A1, Appelbaum, Subscription Publication) that it demonstrated “confidence in the health of the American economy,” and the Washington Post (6/14, Swanson) that it sent “a message of confidence in the strengthening of the US economy.” The Post adds that the Fed also “laid out plans to begin rolling back the more than $4 trillion balance sheet it accumulated in an effort to prop up the economy after the financial crisis.”

Business Climate

Trump’s Approach To Regulation Seen Boosting Several Industries. (06/20/2017)

The Washington Times (6/15, Miller) reported in an analysis that rolling back what President Trump calls “job-killing regulations” has been “the only area” where he “has chalked up big wins on his economic agenda so far,” but “that has been enough to quickly bolster confidence across the manufacturing sector and help revive the coal industry.” This approach to regulations “has had the most immediate impact on the coal industry after Mr. Trump revoked Obama-era rules to combat climate change” as “Corsa Coal Corp. opened its first new deep mine in Pennsylvania in six years” last week and Alpha Natural Resources “announced the opening of a new mine in West Virginia.”

Small Business Marketing

Facebook Increasing Transparency Of Marketers’ Ad Placement. (06/20/2017)

MediaPost’s Digital News Daily (6/14, O'Malley) reported Facebook is “allowing a select group of advertisers to see a list of potential publisher destinations” as part of the social media giant’s effort to be more transparent. Facebook plans to later expand that feature to all of its Audience Network partners by the end of the year. The company “plans to let advertisers apply their block lists at the account level.” Facebook will soon allow “Audience Network partners to specify what types of placements – whether in-stream or native – they want their video campaigns to run in through an opt-out format.”

Wages and Benefits

Trump Signs Executive Order On Apprenticeships. (06/20/2017)

The Hill (6/15, Fabian) reported that President Trump signed an executive order “designed to expand apprenticeships to train people for millions of unfilled jobs,” and added that the order “directs the Labor Department to draft new rules allowing companies, industry groups and unions to create and certify their own programs, which would then be approved by the department.” MarketWatch (6/15, Schroeder) reported that the order “will double federal spending on apprenticeships to about $200 million annually.” The AP (6/15, Kellman) reported that “the money would come from existing job training programs.” The AP added, “Trump is directing the government to review and streamline some 43 workforce programs across 13 agencies.” USA Today (6/15, Swartz) reported that “a lack of skilled workers has created a hiring gap across several industries.”

Columns Tout Trump Apprenticeship Plan. In a column for The Hill (6/18), Urban Institute Fellow Robert Lerman wrote that “President Trump’s ringing call for expanding apprenticeship...should be welcome to all who favor a cost-effective approach to upgrading skills, raising job quality and widening routes to rewarding careers.” In a column for Fortune (6/18) Institute for Workplace Skills and Innovation CEO Nicholas Wyman wrote that President Trump’s new apprenticeships initiative “is cause for optimism that he will significantly improve the number and quality of apprenticeships in the economy.”

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