ICYMI: Unemployment in CD10 drops again, jobs are coming to the Valley
WASHINGTON – Unemployment in California’s 10th district has dropped again, according to new numbers from the state’s Unemployment Development Department. Stanislaus and San Joaquin Counties now have 5.3 and 5.0 percent unemployment respectively, down from 18 and 18.1 percent when U.S. Representative Jeff Denham (R-Turlock) first took office in 2011. Additionally, the World Economic Forum has ranked the U.S. economy the most competitive economy in the world for the first time in a decade. Furthermore, since 2011 median household income among the two counties has increased from an average $47,464.50 to $63,223 per year, according to the most recent U.S. Census Bureau reports.
You can’t deny the numbers, our Central Valley economy is on the rise thanks to pro-growth policies,” said Rep. Denham. “I’m seeing it in my local business, more Valley job opportunities and local incomes are growing.”
Last week, Rep. Denham, a U.S. Air Force Veteran and owner of small business Denham Plastics with offices in Turlock, brought U.S. Navy Vice Admiral Thomas Moore to Newman Flange and Fitting to discuss skilled jobs in the Central Valley, including those that support our Central Valley’s important role in shipbuilding for the U.S. Navy and the skilled jobs locally owned companies provide for communities across the Valley.
Vice Admiral Moore oversees our national workforce that develops, delivers, and maintains the Navy’s fleet. It was his first time to the Valley and to Newman Flange and Fitting - a locally owned, American company that produces a variety of products for U.S. Navy aircraft carriers. Vice Admiral Moore toured the facility with Rep. Denham to see firsthand the skilled jobs that are a part of the aircraft carrier industry in California and how work done locally directly contributes to our national security. Because of companies like this, the United States is the only country in the world that has the ability to build and maintain a large fleet of top-class carriers.
With local companies like these benefiting from a strong economy and the Tax Cuts and Jobs Act, the number of skilled jobs available in the Central Valley is growing. The number of Americans filing applications for new unemployment benefits has dropped to its lowest level since December 1969, and GDP growth – one of the most direct indicators of economic strength – outpaced optimistic projections, hitting 4.1 percent growth for the second quarter of this year. Our economy is on track to grow this year by more than 3 percent GDP for the first time in 13 years.