Today’s Campaign Update
(Because The Campaign Never Ends)
WINNING. Sooooo much WINNING. – Guess what? Every major U.S. stock index rose yet again on Thursday as the wealth of positive economic news just kept rolling in. The NASDAQ saw it 11th consecutive record high close, and the Dow and S&P 500 also closed at new all-time high levels.
On the passage of President Trump’s tax cuts two years ago almost to the day, we here at the Campaign Update told you that those tax cuts, targeted as they are towards stimulating capital investment and economic growth, would quickly create a situation in which the economy’s largest problem would become a literal shortage of workers qualified to fill all the good-paying jobs that would be available. There is little doubt that we have now reached that happy point.
We now have record low unemployment levels for pretty much every category of American: Record low black unemployment; record low Hispanic unemployment; record low veteran unemployment; record low Asian unemployment; and a record high number of men and women gainfully employed in the U.S. economy. According to a recent report issued by the White House:
The surge in labor demand has resulted in 7 million job openings, which outnumber job seekers by more than 1 million. Before President Trump took office, there had never been more recorded job openings than unemployed workers.
Think about that. Never before, not even during the Reagan recovery, has the U.S. economy been in a situation in which it had created more open jobs than there were unemployed workers to fill them. That is a stunning achievement, and if a Democrat were president while such an outcome had been achieved it would be the only story being aired anywhere, anytime on cable news.
But because we are in the age of Trump, an age when our utterly corrupt fake news media studiously ignores reporting any news that reflects positively on the U.S. President, the White House must tell the story itself. This morning, to ensure our readers do get to see it, we are reprinting that December 16 report here.
President Donald J. Trump Is Ensuring That Forgotten Americans Are Forgotten No More
DRIVING A RECORD-SETTING ECONOMY: The booming economy and strong labor market allow Americans of all backgrounds to find work and succeed.
- The current labor market revival is not a continuation of past trends, but instead a direct result of President Trump’s pro-growth policies.
- Since President Trump was elected, more than 7 million jobs have been added to our economy – surpassing the Congressional Budget Office’s predictions by 5 million jobs.
- This year, the unemployment rate has fallen to 3.5%, its lowest level in 50 years.
- Unemployment for African Americans, Hispanic Americans, Asian Americans, veterans, individuals with disabilities, and those without a high school diploma have all reached record lows under President Trump.
- The President’s policies are bringing people off the sidelines and into the labor force.
- The prime age labor force has grown by 2.1 million under President Trump.
- The surge in labor demand has resulted in 7 million job openings, which outnumber job seekers by more than 1 million.
- Before President Trump took office, there had never been more recorded job openings than unemployed workers.
- Annual nominal wages grew by 3 percent in 2019 for the first time in a decade.
- Nominal wage growth has now been at or above 3 percent for 16 straight months.
- Wage growth for many previously forgotten groups is now higher than wage growth for more advantaged groups.
- This is the case for lower-income workers compared to higher-income workers, workers compared to managers, and African Americans compared to white Americans.
- These income gains mark a fundamental change compared to before President Trump’s inauguration, contributing to reduced income inequality.
- When measured as the share of income earned by the top 20 percent, income inequality fell in 2018 by the largest amount in over a decade.
- The Gini coefficient, an overall measure of inequality in the population, also fell in 2018.
- In 2018 alone, nearly 1.4 million Americans were lifted out of poverty.
- The poverty rates for African Americans and Hispanic Americans reached historic lows in 2018.
- Over 600,000 children being raised by single mothers were lifted out of poverty in 2018.
- The number of people claiming unemployment insurance as a share of the population is the lowest on record.
- Nearly 7 million fewer people are on food stamps than at the time of the 2016 election.
- 380,000 fewer people are on Social Security Disability insurance than before the 2016 election.
- Americans in economically-distressed communities are benefiting from increased investment thanks to the Opportunity Zones included in President Trump’s historic tax reform.
WINNING WINNING WINNING WINNING WINNING WINNING WINNING WINNING
That is all.
Today’s news moves at a faster pace than ever. Whatfinger.com is my go-to source for keeping up with all the latest events in real time.