President Trump is ‘winning’ over his past two predecessors in at least one category: job creation.
According to MarketWatch, the median 207,000 jobs-per-month rate created under President Trump is slightly ahead of former President Obama’s pace and significantly ahead of George W. Bush’s during the same time period.
What’s more, previously stagnant wages have been on the rise, if barely, at 2.3 percent over last year, again ahead of Obama’s numbers.
Median monthly jobs added under…
Bush: 61,000 https://t.co/v1kZIvuvVC
— MarketWatch (@MarketWatch) November 4, 2017
October’s jobs report was the best in months, with over 261,000 jobs added and an unemployment rate of only 4.1 percent.
The unemployment rate falls to 4.1%, a 17 year low! U.S. Economy added 261,000 new jobs #JobsReport
— Ivanka Trump (@IvankaTrump) November 3, 2017
Although MarketWatch tries to give at least some of the credit to former President Obama by saying Trump’s been “fortunate to be in office during a sustained upturn in the global economy, and Obama’s supporters could well say the nation’s 44th president put in place the fundamentals that allow for the pace of the current expansion,” one finds it difficult to imagine what “fundamentals” Trump hasn’t completely overturned.
When jobs report last month was down, after several hurricanes, democrats said it was Trump.
Jobs surging & they thank Obama.#JobsReport
— #ThePersistence (@ScottPresler) November 3, 2017
No president actually “creates” jobs, but reversing job-killing executive orders and burdensome regulations, pulling out of anti-American global trade partnerships, and the promise of a brand-new tax code all has markets soaring and jobs booming.
All President Trump really has to do is clear the way, then get out of the way.
As to whether or not Hillary’s plan, a continuance of Obama’s, would have done the same, The Street wrote just before the election:
“According to the Tax Foundation’s analysis, Clinton’s plan would raise tax revenue by $498 billion over the next decade on a static basis. However, when taking into account what it says would be a dip in economic output incurred by the plan, it would end up collecting $191 billion.”
In other words, hiking taxes actually hurts overall economic output, which translates to lost jobs, resulting in less tax revenue than predicted. If government decreases burdensome regulations, lowers taxes and simplifies the tax code, and generally makes it easier for the private sector to create jobs, it will tend to go the opposite direction, up to a certain point.
In the same breath, MarketWatch admits, “That said, the sustained upturn in surveys of consumer and business confidence could well have something to do with Trump. On Friday, the Institute for Supply Management reported the best services survey in over 12 years.”
President Trump may still be a divisive figure, but when it comes to the economy, it certainly doesn’t hurt that everyone in America gets to enjoy a little “winning.”
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Op-ed views and opinions expressed are solely those of the author and do not necessarily represent the views of BizPac Review.
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