He gets an A- in wage growth, but here's where he's failed, Tim Mullaney says.
On Labor Day, it’s a tradition to try to sum up conditions for the American worker — and in a year before a presidential campaign, this is often done with the incumbent’s re-election prospects in mind.Donald Trump’s economic record, as of this Labor Day, is a mixed bag, albeit a bright spot in the administration’s otherwise-unblemished record of tarnishing race relations, the environment — and, indeed, most of what it touches. The unemployment rate is 3.
Job growth Job growth under Trump is slower than Barack Obama’s second-term average of 208,000 a month. But this isn’t bad. In mature expansions, job growth should slow as the economy nears full employment. In fact, I predicted in early 2016 that it would slow to about 160,000 a month, so 183,500 isn’t disappointing.
Wage growth Beyond brave talk about work’s meaning, its real purpose is to bring in cash. Something has to put Labor Day burgers on the grill, and few can count on Trump’s $400 million in tax-curated gifts and inheritances from Dad to do the job. By raw employment numbers, Trump beats Obama’s second term but trails the 2010-13 recovery in manufacturing. His 496,000 new manufacturing jobs compares to 385,000 in Obama’s second term and 530,000 from the February 2010 low to January 2013. Hourly pay for line workers is up 8%, too, matching Obama’s second term.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Angel Has Fallen’ Still In Flight At Sluggish Labor Day Box Office With $10M 4-DayThose distributors who might complain that they can’t find a date for their non-tentpole on the release calendar can just quiet down because you didn’t book anything this weekend at the…
Read more »
Box Office: ‘Angel Has Fallen’ to Win Modest Labor Day WeekendGerard Butler and Morgan Freeman are showing staying power at the North American box office as “Angel Has Fallen” heads for a passable $10 million Labor Day holiday weekend, early estim…
Read more »
Here’s What to Watch and Stream This Labor DayHere's what to stream if your plans involve staying inside all Labor Day weekend
Read more »
How To Shop The Best Labor Day Weekend Sales - fountainof30.comHere's How To Shop The Best Labor Day Weekend Sales! Shop to wear now and later in fall. salealert over40style summerfashion fallfashion jcrew macys intermix
Read more »
Gigi Hadid Gets a Head Start on Breezy Labor Day BeautyLabor Day weekend is upon us, providing one last chance to play into warm weather beauty strengths.
Read more »