The Trump administration’s Bureau of Labor Statistics reported a healthy 263,000 new jobs added to the economy in April as Donald Trump announced “best economy ever.”
But, to put this number in perspective, job growth under the Trump administration’s first 27 months in office actually added 16,852 fewer new jobs per month than were added to the economy in Barack Obama’s last 27 months in office. The source? Donald Trump’s Department of Labor-Bureau of Labor Statistics.
This comparatively lackluster job growth is despite a trillion-dollar tax cut that has largely benefited the very wealthy and corporations, even as wage growth has lagged, and the 4.19 percent increase in wages from March 2018 to 2019 is still well below the average 6.2 percent increase from 1960 to 2019.
Income inequality is at the highest level since 1929. The Business Insider, not exactly a radical left publication, reported nearly 50 million Americans are living in poverty and that number has been growing. Whitewater, Wisconsin made The Business Insider’s list of the poorest towns in America with 38.2 percent of the town’s population living at or below the poverty line.
The stock market’s increase in the Dow Jones average per month under Barack Obama was 2.27 percent. So far Donald Trump’s average increase per month .74 percent. Best economy ever? Not really, we can and have done better.
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