At the Davos World Economic Forum on Tuesday, President Trump highlighted the various economic accomplishments that have been made by his administration, including the recent trade deals and the success of minority communities.
“Just last week alone, the United States concluded two extraordinary trade deals: the agreement with China and the United States-Mexico-Canada Agreement — the two biggest trade deals ever made. They just happened to get done in the same week.” President Trump boasted.
He continued. “Since my election, America has gained over 7 million jobs — a number unthinkable. I wouldn’t say it, I wouldn’t talk about it, but that was a number that I had in mind. The projection was 2 million; we did 7 [million] — more than three times the government’s own projections.”
President Trump stated, “The average unemployment rate for my administration is the lowest for any U.S. President in recorded history. We started off with reasonably high rate.”
President Trump also underlined that “Unemployment rates among African Americans, Hispanic Americans, and Asian Americans have all reached record lows. African American youth unemployment has reached the lowest it’s ever been in the history of our country. African American poverty has plummeted to the lowest rate ever recorded. The unemployment rate for women reached the lowest level since 1953. And women now comprise a majority of the American workforce; that’s for the first time.”
The Trump administration’s economic policies have been very successful for all workers. Due to the low unemployment rates, pay for the bottom 25% of wage earners has been increasing rapidly, at a rate of 4.6% in December from a year earlier. At the same time, pay for the top 25% of wage earners rose 3%.