America is continuing to enjoy an improving economy. How good? New York Times headline June 1: “We Ran Out of Words to Describe How Good the Jobs Numbers Are.”
Neil Irwin wrote, “The real question in analyzing the May jobs numbers released Friday is whether there are enough synonyms for ‘good’ in an online thesaurus to describe them adequately.”
America’s economy added 223,000 jobs in May as unemployment reached its lowest level in 18 years. Even manufacturing jobs appear to be coming back. In Obama’s last year in office, we lost 16,000 manufacturing jobs. In Trump’s first year we added 196,000 manufacturing jobs.
Investor’s Business Daily reported last week, “U.S. Back At No. 1 Competitiveness Ranking – Will Trump’s Critics Ever Admit To Being Wrong?” The annual report by IMD Competitiveness Center in Switzerland ranks countries by 256 different variables. America jumped three places to take the number 1 ranking based on “strength in economic performance and infrastructure.”
GDP growth has averaged 2.3 percent, unemployment now stands at 3.8 percent, and jobless rates for African-American, Asians and Hispanics are at all time lows. Inflation remains around 2 percent, and business investment, particularly among “small businesses” the largest employers by far in America, is surging thanks largely to Trump’s tax reform and cuts in federal regulations.
Peter Navarro, assistant to the president and director of the White House National Trade Council, wrote a column last week in USA Today touting economic benefits to low and moderate income families due to Trump’s steel and aluminum tariffs. He wrote about a new aluminum mill being built in Ashland, Kentucky. “The new $1.5 billion aluminum rolling mill that will soon be built — with a groundbreaking on Friday — will cover 45 acres. This state-of-the art mill will create up to 1,800 construction jobs and about 500 permanent positions in a county where the unemployment rate is almost 40 percent higher than the national unemployment rate.
“Striking a strong blow on behalf of working men and women, the starting salary at this plant will be $65,000 a year. This compares with a median household income in Boyd County of $44,140 — which is well below the national median of $59,039.”
Last month, Reuters reported results from two annual surveys by the Federal Reserve, writing, “Households are feeling more stable, small businesses are making money and many expect to expand and hire in the coming year, signs of continued optimism in two key parts of the economy. …”
The latest National Federation of Independent Business employment survey showed 35 percent of small firm owners reported raising laborers’ pay in May, the highest percentage since NFIB began asking the question in 1986. The survey found the “single most important business problem” facing owners was finding qualified workers.
Sadly, the #HateTrump#HateAmerica movement continues to warn the sky is falling, Trump is lying, and millions will die. They have been saying this since Nov. 9, 2016. I have never seen so much continuous and extreme hatred and personal vitriol directed against a president and his family.
Last week while Trump was signing the historic “Right to Try Act” that allows terminally ill patients to try experimental treatments that have not received FDA approval, #HateTrump#HateAmerica gave little if any notice. Instead, the movement droned on and on about name-calling and so-called values.
Pity the #HateTrump#HateAmerica crowd roiling in hate.