The Trump economy is so strong that the biggest problem employers are reporting right now is a labor shortage, which could help either drive up wages or draw some people back into the labor force. It almost seems impossible that the biggest problem facing business today is that they can’t hire enough, but that’s the reality of the Trump economy.
And all sorts of records have been set:
- The 31% increase in stocks during Trump’s first year was the best since FDR, and the continued run is the second best in history since the post-WWII boom.
- Once the unemployment rate fell to 4 percent, there was exactly one job opening for every person looking for a job. (RELATED: Trump Sets Economic Record That’s Never Been Seen Before).
- Unemployment reached the lowest point in half-a-century in May, as the unemployment rate dropped to 3.8 percent. The black unemployment rate fell to the lowest on record, at 5.9 percent. Not only that, the gap between the black unemployment rate and an overall unemployment rate of 2.1 percentage points is the lowest ever. The gap peaked at 7.4 percent during the Obama years, as blacks suffered disproportionately during the Obama economy (and are sharing in the gains of the Trump economy to a larger extent). This is all in contrast to the predictions of Hillary Clinton – that the American economy would shed 3.5 million jobs following the passage of Trump’s tax cuts. (RELATED: Flashback: Hillary Predicted Trump Tax Cuts Would Kill 3.5 Million Jobs).
- While median household income fell roughly $4,000 during the Obama administration, American wages are finally rising once again. Median household income has been steadily increasing under Trump, rising from $59,471 in January 2017 to $61,483 last month.
- A poll of 8000 small companies found that 72 percent expect their revenues to increase in 2018, and half expect to add more employees.
It seems like everyone is doing well – ironically except President Trump, whose seen his net worth fall $100 million since taking office. (RELATED: President Trump’s Net Worth Has Declined $100 Million Since Taking Office).
Are you thriving in the Trump economy? Let us know your thoughts in the comments section below.
