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The State of our Economy

California Sen. Kamala Harris and Massachusetts Sen. Elizabeth Warren want to know how @realDonaldTrump is measuring the greatness of this economy.  During the debate Warren argued that the economy under President Trump is “doing great for a thinner and thinner slice at the top”

President Trump’s policies have put the American economy into high gear.

  • Since President Trump was elected over 6 million jobs have been created.
  • The GDP for the first quarter of 2019 was 3.2% – the fastest first quarter growth in 4 years.
  • Highlights of May’s jobs report:
    • The unemployment rate remained at 3.6% – the lowest rate since December 1969.
    • There have been 15 straight months of unemployment at or below 4%.
    • Hispanic American unemployment remained at a record low 4.2%.
    • The Asian American unemployment rate was 2.5%, a near record low.
    • The African American unemployment rate dropped to 6.2% – a near record low and lower than any previous presidency.
    • The unemployment rate among women was 3.5%, one of the lowest marks since 1953.
    • Unemployment for workers without a bachelor’s degree is at the lowest level since 2000.
    • The unemployment rate for workers with disabilities reached a record low.
    • Wage growth has remained at a strong 3.1%. This is the 10th straight month where wage growth was at least 3%.
  • The Dow Jones Industrial Average hit record highs more than 80 times under President Trump, including closing higher than 26,000 points for the first time in its history.
  • Under President Trump’s leadership, Congress passed historic tax cuts and relief for hard-working Americans. The Tax Cuts and Jobs Act is the first major tax reform signed in 30 years.
    • As a result of the historic tax cuts, nearly 9,000 Opportunity Zones were created in all 50 states, DC, and 5 territories. Opportunity Zones will spur $100 billion in private capital investment and impact nearly 35 million Americans.
    • The Tax Cuts and Jobs Act increased the Child Tax Credit by 100% keeping more money in the pockets of hardworking mothers.
  • Economic confidence rebounded to record highs under President Trump because his pro-growth policies have and continue to put American workers and businesses first.
  • President Trump has rolled back unnecessary job-killing regulations at a record clip which has saved billions and unleashed massive economic growth.
    • This includes rolling back the costly Obama-era “Clean Power Plan.”

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