Nearly one million more blacks and two million more Hispanics are employed than when Barack Obama left office, and minorities account for more than half of all new jobs created during the Trump Presidency. Unemployment among black women has hovered near 5% for the last six months, the lowest since 1972, and a mere 3.5% of high school graduates are unemployed. ... And here is the great paradox of the Barack Obama economy. The Federal Reserve’s bond purchases and near-zero interest rates for eight years drove up asset values and let corporations borrow cheaply while the Administration’s punishing regulations bred business uncertainty that depressed investment in human and physical capital. Those with financial assets prospered more than middle-class wage earners. The Obama Democrats talked constantly about inequality rather than growth, and the result was less growth and more inequality. The Trump Administration has for the most part focused on growth. Its policy mix of deregulation and tax reform has unleashed more private investment and job creation that has lifted productivity and wages for the non-affluent. The result has been faster growth and less inequality. Corporate profits have grown four times as much during President Trump’s first two years than during Mr. Obama’s second term. Yet investor dividend payments increased more during the Obama Presidency as businesses pulled back on investing in equipment, buildings and workers.
Jul 5, 2019, 12:05pm Trump Is Falling Almost 1 Million Jobs Short Vs. Obama https://www.forbes.com/sites/chuckj...t-1-million-jobs-short-vs-obama/#6a77f6c08caa
This doesn't have to do with supporting either side but its also important to look at the base in which one is starting. It is very difficult to lower unemployment say from 5% to 3% than it is from 7% to 5%. You must keep the jobs and then cumulatively add more. The market quickly contracted and companies fired lots of people in 2008-2009. When the economy stabilized many were hired back and the economy reflected the averting of a serious crisis. The economy acts in its own way regardless of what government does but it can act either as gravity or as helium for the economy at the margin. That the economy and jobs continue to grow 10 years into a bull market is really extraordinary.
So let me start by defending trump... Perhaps from a statistical point of view. But I would still have to give more credit to the president that reversed the downward trend and created a huge rebound... wouldn't you? Yea... trump either gets the tail end of Obama's wave (if you are a trump detractor) or he gets credit for the last two-and a half years of that ten year streak (if you are a trump supporter).
And yet we continue to borrow money to do it. One day the debt bubble that pops will be the United States.
For eight years under President Obama, the growing burden of government suppressed the economic recovery that should have followed the recession of 2008-09. Mr. Obama nonetheless has claimed responsibility for today’s boom, asking Americans in September to “remember when this recovery started.” Yet it wasn’t until President Trump took office that the economy surged. …The result is a rising tide that is lifting boats across every class and region of the country. …Today unemployment rests at 3.7%, near a 50-year low. Since the government began reporting the data, unemployment has never been as low as it is today for African-Americans, Latinos, Asians and people with only a high-school education. GDP growth staggered along at 1.5% in Mr. Obama’s final six full quarters in office. …growth doubled to 3% during Mr. Trump’s first six full quarters. …the increase in job openings over Mr. Trump’s first 21 months has averaged an impressive 75,000 a month. Over Mr. Obama’s last 21 months in office, the number of job openings increased an average of 900 a month. …During Mr. Obama’s last 21 months, the number of employed Americans increased an average of 157,000 a month. Under Mr. Trump, the increase has accelerated to 214,000 a month, a 36% improvement. …In Mr. Obama’s final 21 months, weekly earnings rose an average of $1.31 a month. Under Mr. Trump, weekly earnings have increased an average of $1.84 cents a month: a 40% improvement that’s come mostly since tax reform took effect in January. Over that period, weekly earnings have grown an average of $2.31 a month, a 76% increase over Mr. Obama’s last 21 months. …The unemployment rate declined 13% during Mr. Obama’s last 21 months, but from there it has dropped another 23% during Mr. Trump’s tenure.
What kind of bull is that? Dividends increased more because of economic recovery. And that totally ignores the massive increase in stock buybacks of the last couple years.
Why are you not happy about it? If you want to use your massive knowledge in finance and accounting to correct some perceived inaccuracy in their report then give them a call.
It's an opinion article... So it doesn't need to be honest. You'll notice I only pointed one section out because it was deliberately dishonest. They didn't need to be to make their point, but they did. You should be bothered that they did.
I’m not bothered by it at all. I find the article both informative and honest. Because your opinion is that its dishonest does not make it fact. That’s just like... your opinion man!
That article is interesting. Everyone knows government spending, tax cuts, & deregulation are good for the economy short term, but is it high risk. It acknowledges that the Obama years played it safely. If the economy was growing while reducing the deficit I'd be very impressed. Instead we're pumping steroids into it will Trump complains about the Fed not trying to pump it up even more. I'm a conservative. Trump is definitely not.
Yeah, it means the WJS is a reputable publication and I trust them a hell of a lot more than I trust you.
