NWSOFA Fiscal and Economic Issues November Team Meeting

Our November meeting will be next Tuesday, November 15th at the Arlington Heights Library starting at 7 pm. RSVP at the link below.

RSVP: https://my.barackobama.com/page/event/detail/economicopportunityactionevent/gsfx9

Nationally job growth continues to be strong with 2.35 million jobs added in the last 12 months. October job growth was reported as 161,000 jobs added. Incomes are also up this year.

Real GDP growth in the 1st quarter has been revised up to 0.8% (from 0.5% initially). 2nd quarter GDP growth was 1.4%. Initial report of 3rd quarter GDP growth was a healthy 2.9%. We will be discussing these numbers at our meeting next Tuesday.

We will also discuss two pieces of positive economic news that were released in the last week:
Real median household incomes rose by 5.2% between 2014 and 2015; and
The uninsured rate was down to 9.1% in 2015.
http://www.chicagotribune.com/business/ct-us-census-raises-20160913-story.html
https://www.whitehouse.gov/blog/2016/09/13/income-poverty-and-health-insurance-united-states-2015

Illinois job numbers have been significantly revised by the BLS, with 2014 job growth now reported at +88,000 and 2015 job growth now reported at 51,400. Job growth for the first eight months of 2016 was reported at 34,500.

The September PowerPoint presentation is attached. It will be revised before next week.

While we won’t be discussing the presidential candidates at our Fiscal meeting due to the non-partisan nature of OFA, we will be discussing them and other topics at the after meeting at Eddie’s starting about 9:30. Everyone is invited to join this discussion as well.

I appreciate everyone who has joined us for our meetings so far this year. We had some good discussions. I hope the weather gods cooperate next Tuesday and we get a good crowd again this month.

I hope to see you next week on Taco Tuesday.

Karl Faulstich