For whatever reason, the release of the latest jobs report has Donald Trump and his supporters breakdancing at a roller rink. For May 2018, it's being estimated that 223,000 jobs were added and that the unemployment rate has dropped to 3.8%. Those are both very good numbers, but while I'm sorry to have to inform the president and his minions, this jobs report was not a direct reflection of Trump's decision-making and policies. As a matter of fact, it had about as much to do with that as heroin has in increasing 9-to-5 job efficiency.
Donald Trump and his supporters either can't remember anything past 5 seconds ago, are incredibly stupid, or a combination of the two.
The unemployment rate was 4.7% when Donald Trump took over the reigns. With the UE rate now being at 3.8%, that's a 19.15% decrease. At the height of the recession, while Barack Obama was in office, the unemployment rate was at an astounding 10.0%. So, as the UE rate was 4.7% when Trump stepped into the Oval Office, it decreased a whopping 53% under Obama, roughly three times that of Trump.
In the final full month before Barack Obama took over for then President Bush (12/08), 707,000 jobs in this country were lost. In May of 2010, 16 full months later, 522,000 jobs were added - a difference of 1,229,000 jobs. In the final full month before Donald Trump took over for Obama, 180,000 jobs were added. Sixteen months later, that total increased to 223,000, a difference of 43,000.
Not only that, but in Obama's final full 16 months in office, 3,281,000 jobs were created (205,063 p/month). In Trump's first full 16 months, 2,966,000 jobs were created (185,375 p/month).
Lastly, the wage growth was at its lowest in May of 2010, at 1.6%. This increased to 3.9% in November of 2016. Meanwhile, the range has been between 2.9% and 3.6% since Donald Trump became president.
So let's break this down even further:
Unemployment Rate
Where Obama started: 10.0%
When Obama ended up: 4.7%
Change: -53.0%
Where Trump started: 4.7%
Where Trump is currently: 3.8%
Change: -19.2%
Difference: Obama: -33.8%
16-Month Job Check-up Point
Obama: +1,229,000
Trump: +43,000
Difference: Obama: +1,186,000 (43,000 is just 3.5% of 1,229,000)
Job Creation
Obama: 3,281,000
Trump: 2,966,000
Difference: Obama: +315,000
Wage Increase
Obama: 143.8% (from 1.6% to 3.9%)
Trump: 24.4% (from 2.9% to 3.6%)
Difference: Obama: +119.4%
This most recent jobs report shows nothing other than the fact Donald Trump is riding Barack Obama's coattails. Obama was handed a recession, the hardest hitting recession since the Great Depression. Trump was handed a recovered and strengthening economy. Just look at the numbers and try telling me with a straight face Donald Trump has done more to help this country economically than Barack Obama. Go ahead. I haven't heard a good joke in a while and could use a laugh.
https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth
https://www.frbatlanta.org/chcs/wage-growth-tracker?panel=1
Donald Trump and his supporters either can't remember anything past 5 seconds ago, are incredibly stupid, or a combination of the two.
The unemployment rate was 4.7% when Donald Trump took over the reigns. With the UE rate now being at 3.8%, that's a 19.15% decrease. At the height of the recession, while Barack Obama was in office, the unemployment rate was at an astounding 10.0%. So, as the UE rate was 4.7% when Trump stepped into the Oval Office, it decreased a whopping 53% under Obama, roughly three times that of Trump.
In the final full month before Barack Obama took over for then President Bush (12/08), 707,000 jobs in this country were lost. In May of 2010, 16 full months later, 522,000 jobs were added - a difference of 1,229,000 jobs. In the final full month before Donald Trump took over for Obama, 180,000 jobs were added. Sixteen months later, that total increased to 223,000, a difference of 43,000.
Not only that, but in Obama's final full 16 months in office, 3,281,000 jobs were created (205,063 p/month). In Trump's first full 16 months, 2,966,000 jobs were created (185,375 p/month).
Lastly, the wage growth was at its lowest in May of 2010, at 1.6%. This increased to 3.9% in November of 2016. Meanwhile, the range has been between 2.9% and 3.6% since Donald Trump became president.
So let's break this down even further:
Unemployment Rate
Where Obama started: 10.0%
When Obama ended up: 4.7%
Change: -53.0%
Where Trump started: 4.7%
Where Trump is currently: 3.8%
Change: -19.2%
Difference: Obama: -33.8%
16-Month Job Check-up Point
Obama: +1,229,000
Trump: +43,000
Difference: Obama: +1,186,000 (43,000 is just 3.5% of 1,229,000)
Job Creation
Obama: 3,281,000
Trump: 2,966,000
Difference: Obama: +315,000
Wage Increase
Obama: 143.8% (from 1.6% to 3.9%)
Trump: 24.4% (from 2.9% to 3.6%)
Difference: Obama: +119.4%
This most recent jobs report shows nothing other than the fact Donald Trump is riding Barack Obama's coattails. Obama was handed a recession, the hardest hitting recession since the Great Depression. Trump was handed a recovered and strengthening economy. Just look at the numbers and try telling me with a straight face Donald Trump has done more to help this country economically than Barack Obama. Go ahead. I haven't heard a good joke in a while and could use a laugh.
https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth
https://www.frbatlanta.org/chcs/wage-growth-tracker?panel=1
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