During Donald Trump's appearance at the United Nations he bloated his accomplishments braying, "In less than two years, my administration has accomplished more than almost any administration in the history of our country." That comment was greeted with laughter by the world leaders present. His doting liege, U.S. Ambassador to the UN, Nikki Haley, chimed in later explaining that they were laughing with him.
This legerdemain act is constantly cycled by Trump's economic adviser-jesters who omit or overlook the real figures reported by the Bureau of Labor Statistics (BLS.gov) contradicting Trump's exaggerated jobs creation and those participating in the labor force.
But, since the whopping $1.5 trillion tax cut larded out to the wealthiest 1% there has been little investment into rebuilding the nation's infrastructure or in creating more new, well-paying jobs. Also, Trump's senseless tariffs, higher interest rates and slowly creeping inflation are beginning to harm all American families and workers.
So, I compared the Trump 19 months in office through the end of August 2018 until Barack Obama's last 19 months ending in January 2017 when he left office:
1) During Barack Obama's final 19 months in office 208,400 average monthly jobs were created.
2) During Donald Trump's 19 months in office ending August 2018 only 188,600 average monthly jobs were created.
These are anemic numbers considering the Republican whopping tax cut that benefited mostly the wealthiest people and corporations. Since the population has grown from 323 million people at the end of 2016 to 328 million people today one would expect more, not fewer, jobs created in this time span since more people should have entered the labor force. But, that has not been the case.
Also, the Labor Force Participation Rate is lower under Trump's custody. The BLS defines this as the sector of working population in the age group (16-64) of the economy currently employed or seeking employment. ... It refers to the total number of people or individuals who are currently employed or in search of a job.
This is an important number to remember because the Trump operatives during the 2016 campaign skewed this number to falsely claim that the unemployment rate was nearly 40%. Trump enthusiastically peddled that distortion and made it one of his key criticisms against the Obama economic policies.
3) When Barack Obama left office in January 2017 the labor force participation rate was 62.9%.
4) At the end of August 2018 under Donald Trump the labor force participation rate was 62.7%, lower than it was when President Obama left office.
Insignificant as that number is, it nevertheless puts the lie to Trump's "roaring" economy.
5) U.S. Quarterly Major Sector Productivity and Costs: Under Trump economic polices the quarterly growth has been far less than spectacular: Starting in 2017 January-March productivity rose 0.4%, April-June 1.6%, July-September 2.3%, October-December -0.3%. Average annual growth was an anemic 1.0%.
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).