I keep hearing trumpers claim the economy is booming. When challenged they disappear. So lets look at it.
First quarter growth was only 2.2%. I don't call that booming.
U.S. First-Quarter Growth Revised Down to 2.2% on Inventories
Unemployment is really low which is good. 3.8%
But Obama had a really good unemployment rate, but repubs then claimed it was about the labor force participation rate. So how is that doing? 62.7%. What was it in Dec 2016? 62.7%. So still really low. According to Trump that makes the real unemployment rate over 20%.
Bureau of Labor Statistics Data
How are wages doing? Still really slow.
All the signs are there for higher pay, but the 'mystery of missing wage growth' continues
Stock market? Having an awful year. Did great when we were riding the Obama economy, but has been erratic and dropping as we get more trump policies.
Trade war fears spread to tech and Dow sheds 328 points
With all this tariff talk and more sales tax on internet sales coming I don't see a boom coming.
Economy is still good,but not booming. If you think the economy is booming please share which economic indicators you are using.
Well, I hope you weren't dumb enough to miss out on the 30% stock market gains last year.
Wages are up NICELY, and especially for the bottom two quintiles.
WINNING:
Trump Boom Continues: Unemployment Remains at Record Low.
U.S. employers added 145,000 jobs in December 2019, keeping unemployment at the record low of 3.5 percent,
according to the Bureau of Labor Statistics (BLS).
"Notable job gains occurred in retail trade and health care" BLS reported on Friday.
Black and Hispanic unemployment rates remained near record lows.
These unemployment numbers represent a strong economy, which has enjoyed growth thanks in part to Trump's tax cuts in 2017 and his efforts to curtail federal regulations.
Robert Johnson, founder of Black Entertainment Television (BET) and America's first black billionaire, praised President Donald Trump for the roaring economy,
giving him an "A+."
"I think the economy is doing great, and it’s reaching populations that heretofore had very bad problems in terms of jobs and employments and the opportunities that come with employment … so African-American unemployment is at its lowest level," Johnson said last July.
MORE ROOM FOR EVEN MORE EXPANSION:
The labor force participation rate, which measures the total number of workers who are employed or seeking work out of the total civilian working-age population, has hovered around 63 percent since 2014, and it stood at 63.2 percent in December.
This economic growth is strong, but there is still room for even more Trump Boom!