Trump Touts Lowest Unemployment Rate on Record

January 6, 2018 Updated: January 8, 2018

President Donald Trump took to Twitter on Saturday morning to celebrate the lowest unemployment rate for black people in 45 years.

Trump’s claim is based on official Bureau of Labor Statistics data released on Friday, Jan. 5. Based on the data, the black unemployment rate is the lowest on record. The Hispanic unemployment rate also fell to a record low in November.

“I am so happy about this News!” Trump wrote.

The gap between black and white unemployment also shrunk to a record low in June, Business Insider reported.

White House spokesman Raj Shah attributed the improvement in the black unemployment rate to Trump’s economic policies.

In the tweet, Trump cited a Washington Post article about his first-year performance on employment numbers. Trump inserted “of all places” in the message since the article is a rare positive piece on the president by the liberal newspaper.

The post article cited several key metrics on which Trump outperformed his predecessor, Barack Obama.

While the unemployment rate fell by 0.7 percent during Trump’s first year in office, it soared 2.1 percent during Obama’s first year. Obama’s first-year unemployment rate rose more than that of any president on record, the Post’s analysis shows.

Trump’s first year, meanwhile, was topped only by Bill Clinton and Jimmy Carter, who had recorded a better drop in the unemployment rate during their first years.

Trump also delivered on a campaign promise to grow manufacturing jobs. The United States added 184,000 manufacturing jobs during Trump’s first year in office. During Obama’s first year in office, the United States lost more than one million manufacturing jobs.

December became the 87th straight month in which companies hired more people than they fired, continuing the longest stretch of job growth on record, reported Business Insider.

More than one million Americans are set to receive or have already received pay bonuses based on Trump’s tax reform package, according to a list maintained by Americans for Tax Reform. At least 40 companies have announced bonuses of up to $2,000 for their employees with many raising the base wage across their workforce and committing to invest in their U.S. operations.

But the significant bonuses from these companies will take some time to reflect on wage-growth data, Andrew Chamberlain, the chief economist at Glassdoor, wrote in a preview of the jobs report.


Recommended Video:

2017 Year in Review


Follow Ivan on Twitter: @ivanpentchoukov