by Kara Machowski
During Obama, Unemployment Dropped from 9.9% to 4.7%. Trump lowered it to 3.6%, Only 1.1 points
In the wake of George Floyd’s death and the upcoming election the president has resorted to focusing on jobs and the economy rather than addressing the racial tension that has spared dozens upon dozens of protests around the world. Even though the president has lost popularity amongst other republicans and supporters, many of the president’s supporters are sticking by his side and are attributing their support to the jobs that were created under his presidency
Real number increases and decreases
Many are crediting President Trump’s success in his presidency to two reasons; his unemployment rate and his economic build. However, since the president took office, unemployment had indeed dropped (prior to the pandemic) to 3.6% of American's who could work but did not. Many attribute the decrease in joblessness to the president, but many who are well aware of where these numbers come from theorize that since the percentage was on a permanent decline since the great recession, he simply rode on the coattails of the previous presidency and the actions that Obama took since he took office.
in the last three months the unemployment rate spiked to percentages that we hadn’t seen since the great depression of 1930, where unemployment reached 24.9%. The Labor Department released in May that the unemployment rate was 14.7%, however because of data collection issues economists had to estimate and concluded it was closer to 19%.
During the Trump presidency, number of jobs created per month actually fell since he took office. In 2016, the number of jobs created was 195,000, then it dropped in 2017 to 176,000, the next year the number rose to 193,000, but then fell again in 2019 to 175,000. In conclusion, while new jobs are being created, the percentage of jobs being created monthly and yearly dropped since the Obama Presidency, where it laid in the 200,000's.
Jobs created within the labor force only rose 1%, from 81% to 82.9% since the Trump presidency overhaul, which is a plus since it had been on a decline, a promise that the president made to the Unions as well as blue collar employees and was able to keep. The Real Wage growth when Trump took office was 1.3% in 2016, then fell in 2017 to 0.4%, and 2018 took it up to 0.6%, and was 1.3% in 2019. So the actual wage growth under the Trump presidency is null, meaning that the federal minimum wage has not increased and neither has it per state.
The current federal minimum wage hasn't been change since 2009 and is $7.25 and with half the nation, 23 states, have not raised their minimum wage since 2009. Productivity Growth rose from 1.3% when he took office to 1.6%, in a positive increase of .3%. The productivity rate reflects the output from the job force, which is in coincidence with unemployment numbers; E.g. if unemployment fell a little then productivity would slightly rise.
The unemployment rate as always wrongfully reflected the African American and Latino communities. While President Trump brought the unemployment rate to 3.6%, African Americans were still sat at 6% in September, 2019, before the pandemic and is now between 16-17%. This is a big issue when it comes to equality, which has come into serious demand, a demand that the president doesn't plan on addressing.
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