The news only seemed to get better on Friday when the Bureau of Labor Statistics released a jobs report showing not only that unemployment decreased, but annual wage growth reached a record high not seen since the beginning of the Great Recession.
The jobs numbers showed wages making their largest annual gain in nearly ten years, Reuters reported. A whopping 711,000 people entered the labor force and unemployment reached a 49-year-low of 3.7 percent just before Tuesday’s midterms.
Trump and Republicans naturally campaigned on the president’s economic record, which contained a long list of milestones. IJR included some of them below:
With some exceptions, Trump has seen steadily declining unemployment under his presidency.
Unemployment hit a record low in May. When unemployment hit an 18-year low this summer, House Minority Leader Nancy Pelosi (D-Calif.) tried downplaying the figure by arguing that wage growth remained stagnant. IJR reached out to Pelosi’s office to get a comment on the latest jobs report — showing a nearly ten-year-high in wage growth — but didn’t receive a response after contacting on Friday.
Unemployment for black Americans hits all-time recorded low. May’s jobs report also showed black Americans’ unemployment rate fell to 5.9 percent, the lowest amount since the government started recording the figure in 1972. Under Trump, the figure also dropped below seven percent for the first time — reaching 6.8 percent in December.
Job openings reached about the number of unemployed people in the U.S. Earlier this year, job openings reached a record high of 6.6 million.
Record number of employed Americans. Yep. That number reached a record 155,965,000 in July, although the labor force participation rate stayed the same.
Hispanic unemployment reaches all-time, recorded low. Just as Trump faced greater scrutiny over his allegedly horrible immigration practices — and by extension, progressive claims of racism — economic data revealed that Hispanic unemployment reached the lowest level ever recorded in American history.
Jobless claims consistently reached record lows. As recently as the week that ended on Oct. 27, jobless claims fell to their lowest level since 1973.
After seeing poor economic growth under former President Barack Obama’s administration, it seemed unlikely that Trump would able to reach his goal of four percent growth in Gross Domestic Product (GDP).
In the second quarter of 2018, that once-ridiculed prediction became a reality.
Manufacturing became a central aspect of the president’s economic agenda which focused on returning American jobs and revitalizing domestic industry.
Manufacturing expansion reaches 13- and 14-year highs. During Trump’s first year in office, manufacturing reached the highest level in 13 years. In the next year, it reached a 14-year high with a Purchasing Manager’s Index of 60.8 in February from 59.1 in January.
Manufacturing jobs see the largest increase in three years. Manufacturing jobs increased from February to March by 241,000. In February, manufacturers made 380,000 hires which was a record high since before the recession.
Consumer confidence just hit an 18-year high in September. The consumer confidence index, run by the Conference Board, rose from 134.7 to 138.4 from August to September.