Even as Democrats float fake stores about Trump insiders seeking to derail his presidency, the Trump era economy is still humming along. Today’s good news is that unemployment is at a 49-year low.
This is just one more example of how the Trump era has succeeded in just two years, far more than Obama ever did in eight years.
The Hill has the great news:
Initial claims for state unemployment benefits fell to a seasonally adjusted 203,000 for the week ending Sept. 1, a drop of 10,000 from the previous week, the lowest level since December 1969, the Labor Department said on Thursday.
The four-week moving average, which is a better indicator of where the job market is headed, was 209,500, a decrease of 2,750 from the previous week, the lowest level for this average since Dec. 6, 1969, when it was 204,500.
The economy, which grew at a robust 4.2 percent pace in the April through June quarter, is chugging along despite headwinds from President Trump’s trade policies. Trump has applied steep tariffs on steel and aluminum imports and duties on $50 billion worth of Chinese goods.
That wasn’t the only good news. Another report revealed that the private-sector businesses added 163,000 jobs since last October.
The job market is still hot, too.
Indeed, the market is so hot that companies are finding themselves in the position of having to work over time to keep employees happy so they won’t quit for something better.
This is the first time that employers have been in this position for well over a decade. The last time the job market was humming along so well was before the towers fell right after George W. Bush got elected.
None of this happened during the Obama era. In fact, Obama never reached 3 percent growth even one time during his entire 8 years in office.
Illinois Representative Peter Roskam noted this fact in a 2017 speech. “The past (Obama) administration was the first administration that never had a whole year of 3 percent growth,” Roskam said in Chicago. Even the left-wing Politifact had to admit that Roskam’s claim was true.
Obama is the only president in modern times who could not make at least one year with three percent growth. Not in any of his eight years.
Trump did it in less than two.
Follow Warner Todd Huston on Twitter @warnerthuston.
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