The surging U.S. economy added another 201,000 jobs as unemployment claims fell to a 49-year low in what appears to be a record best.
Month after month, the experts under-predict a booming jobs market, and August was no different. The opportunities for employment continue to outpace both expectations and the number of available workers. Driven by Pres. Donald J. Trump’s pro-business policies, job-killing regulations have been stripped away. The Republican-led Tax Cuts and Jobs Act lowered business taxes to match other competitive nations and hundreds of billions of dollars have been re-invested into American-based businesses.
The left-leaning media has gone out of its ways to avoid reporting on the historic wins by the Trump Administration, preferring to put porn stars and disgraced former political insiders on the air. However, no legitimate person can deny the near 50-year record best Pres. Trump and the Republicans delivered.
More Jobs Than Workers
To say the Trump Administration took a wallowing economy and turned it into a juggernaut would be something of an understatement. Under Obama’s anti-business policies, the sluggish economy suffered, and unemployment soared. Recently released data from the Department of Labor demonstrates the dramatic change that has occurred since Americans took power away from Democrats.
“In the week ending September 1, the advance figure for seasonally adjusted initial claims was 203,000, a decrease of 10,000 from the previous week’s unrevised level of 213,000. This is the lowest level for initial claims since December 6, 1969 when it was 202,000,” a DOL repots states. “The 4-week moving average was 209,500, a decrease of 2,750 from the previous week’s unrevised average of 212,250. This is the lowest level for this average since December 6, 1969 when it was 204,500.”
The national unemployment rate has been at or below 4 percent since April, 2018. Although the administration has made a tremendous impact on American businesses, Pres. Trump continues to push for retraining. Much of the credit goes to the president’s America First policy.
“We have tremendous numbers of people who really are phenomenal in every way, but they’re not trained and they’re not qualified,” Pres. Trump said. “We need people who are skilled. We need people who are trained. It’s much different than it was 30 years ago and 40 years ago.”
The Trump Administration continues to work hard to help workers retool their skills to meet the changing employment environment. First daughter Ivanka Trump spearheaded a workers’ council to help people gain new skills.
“We also have to be thinking about the mid- to late-career worker, who needs to be re-trained and re-skilled,” Ivanka Trump said. “As a country, by and large, all investment in education stops at the age of 25, and that doesn’t work in such a fast-changing, increasingly digital economy.”
Her mandate is to reintegrate nearly 4 million people into the workforce. According to unemployment data, there are a modest 6.7 million available jobs. Many economists consider the country to be at full employment because relocation and retraining would need to occur to fill these posts.
Trump Measures Economy By Records
Under the previous administration, the country suffered terrible unemployment and a stagnant economy. Consider Pres. Trump’s incredible numbers as a window into the economic revival everyday Americans are enjoying.
- National unemployment stands at the lowest rate since 2000.
- Prior to the 2000 unemployment rate of 3.8, the last time it hit 3.9 or lower was 1970.
- African-American unemployment is the lowest in recorded history and has never before dipped below 7 percent.
- African-American unemployment stood at 6.3 percent in August.
- Hispanic unemployment is the lowest in recorded history. Until 2018, it had never dipped below 5 percent.
- Hispanic unemployment stood at 4.7 percent in August.
- Business confidence index stands at its highest mark in more than a decade.
- The Dow Jones crossed the 20,000 mark under the Trump Administration and peaked at over 26,000.
- It currently hovers between 25,000 and 26,000. All of these figures are historic records.
The S&P 500 index crossed the 2,300 mark for the first time during the Trump Administration. It currently hovers around 2,800-2,900. All of these figures are historic records.
Wall Street experts have asserted that the stock market has enjoyed the longest Bull run in American history.
As Pres. Trump and the American people experience new heights, expect the fake news media to report on salacious distractions. America is winning, big league, and the left does not like it.
Regards,
Ethan Warrick
Editor
Wealth Authority
