When President Donald Trump was first elected, the liberal media and all of their so-called experts put forth dire predictions of imminent financial doom for the nation because they believed that Trump’s regulatory, tax, and trade policies would lead to economic ruin.
It is now clear that their concerns were unfounded, as the economy has instead soared over the past two years, a positive trend again evidenced by a stellar April jobs report which revealed that the unemployment rate reached its lowest level in nearly 50 years.
Surpassing expectations
The Labor Department announced on Friday that about 263,000 jobs were added in April, significantly beating Wall Street expectations of only 180,000-190,000 new jobs.
Meanwhile, the unemployment rate, which was expected to remain steady at 3.8%, ticked down to 3.6%, the lowest it has been since December 1969, when unemployment stood at 3.5%.
While that pair of amazing statistics garnered most of the headlines, the jobs report contained a slew of other good economic news, which President Trump’s White House was only too happy to share with the American people.
Wages also rose slightly over the course of the month of April, with the average hourly wage now at $27.77. Wages have risen by about 3.2% over the past year, and with inflation holding steady at about 1.5%, that means workers have seen a real pay raise of roughly 1.7%.
Good news abounds
The White House issued a release Friday that compiled a number of media reports highlighting the strong economic gains made over the past month and year.
In addition, the administration touted a new CNN poll which showed that the president’s approval rating with regard to his handling of the economy climbed to 56%, a factor that will certainly work in Trump’s favor as the nation heads into the 2020 election cycle.
The release also noted that worker productivity went up by 3.6%, the highest since 2010, while the gross domestic product grew by 3.2 percent in the first quarter, again beating analyst predictions of 2.1% growth.
On top of that, even as consumer spending increased significantly, inflation remained relatively flat. Meanwhile, more Americans now have a positive outlook on their own financial situation, and more Americans who are nearing retirement age feel more confident that they will be prepared for their future non-working years.
Larry Kudlow’s excitement
The news was so good that Director of the United States Economic Council Larry Kudlow couldn’t contain his excitement in a short video posted to Twitter. Standing outside in front of the White House, Kudlow’s enthusiasm was obvious:
We’re killing it on the economy! 🔥 pic.twitter.com/hme0eihP9c
— The White House (@WhiteHouse) May 3, 2019
The roaring economy is indeed “totally awesome,” and hopefully it will continue to soar and bless the American people with historic levels of job growth and prosperity.
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