LARRY KUDLOW: Trumponomics is working, as a midterm victory comes into sight

Economic Performance - Strong job growth reported, particularly in the private sector, with production workers seeing pay increases and more hours worked [1][3] - Wage income proxy, calculated as hourly earnings times hours worked, increased to 5.6% at an annual rate over the past three months [3][4] - Consumer Price Index (CPI) inflation rose by 2.4% over the same period, resulting in a real wage increase of 3.2% [3][4] Productivity and Business Environment - Productivity is booming, contributing to profitability for businesses, with only a 1.1% increase in unit labor costs [4] - Factory construction is experiencing significant growth, linked to tariff-driven trade policies and immediate depreciation write-offs, leading to increased business capital investment [6] Energy Sector Developments - Demand for power is increasing, with deregulation in the oil, gas, and coal sectors potentially lowering average auto costs by approximately $2,400 [5] Economic Confidence - A Gallup poll indicates a rebound in economic confidence, with a 49-36% positive outlook [1]