Last month, the Congressional Budget Office revealed that 1.3 million new jobs were created thanks to the Republican tax cut.
Now, not surprisingly, it looks like more Americans than not are giving President Trump a thumbs up when it comes to his handling of the economy.
A new CNN poll released Monday showed that “Trump’s approval rating on the economy remains in positive territory (48% approve to 45% disapprove), continuing a nearly year-long streak of positive ratings on that issue.”
As for the tax cut itself, a once hesitant public now favors it. “And as Americans begin preparing their first tax returns under the tax reform law passed by the President and the Republican-controlled Congress in late 2017, the poll finds 48% saying they favor the law, 40% oppose it,” CNN noted. “At the time of its passage, most were opposed to the proposals being made by Republicans in Congress (55% opposed it).”
Trump's approval rating on the economy stands at 48% approve vs. 45% disapprove, via new @CNN poll, above water for the 9th survey in a row stretching back nearly a full year
— Ryan Struyk (@ryanstruyk) February 4, 2019
On Friday, a jobs report showed that 304,000 jobs were created in January, according to the Bureau of Labor Statistics.
Six times more manufacturing jobs than under Obama
Americans’ generally more positive attitude about the economy reflects job increases in important sectors.
Forbes reported Friday that “manufacturers added 6 times more jobs under Trump than under Obama’s last 2 years:”
The federal government released its first jobs report of 2019, showing that nonfarm payroll grew by 304,000 in January, far above economists’ consensus estimate of 170,000. The average monthly gain in 2018 was 223,000.
Over the past year, average hourly earnings were up 3.2%.
After revising its data for past periods, the U.S. Bureau of Labor Statistics (BLS) reports that seasonally adjusted nonfarm employment grew by 5.1 million jobs in President Trump’s first full two years in office, a 3.5% increase. Private sector payrolls grew by 4.9 million, a 4.0% increase.
“By comparison, over the same 24-month period, the economy added 5.0 million jobs in former President Obama’s last two years in office, with private sector employment up by 4.7 million,” Forbes added. “Significantly, growth in manufacturing jobs continued to show strength, with 13,000 jobs added in January.”
The CNN poll also reflected other positive numbers for the president. Forty percent now approve of Trump’s handling of foreign affairs compared to 36 percent in December.
Jobs are not only important to the nation’s health, but any president’s prospects in getting re-elected. How Trump fares in 2020 is anyone’s guess, but he can justifiably say he created jobs and polls indicate most Americans agree with him.