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President Trump Bolstering America’s Economy

- April 13, 2017

Under President Trump, The Economy Has Grown By Leaps And Bounds


TOP TAKEAWAYS

  • Since President Trump took office, thousands of new jobs have been created, unemployment is down, and wages are higher.
  • Consumers and business owners are expressing more confidence that the economy is getting back on track.
  • These steps are only the beginning of President Trump's effort to stimulate the economy, grow the workforce, and Make America Great Again!

SINCE PRESIDENT TRUMP TOOK OFFICE, ECONOMIC INDICATORS HAVE IMPROVED DRAMATICALLY

Unemployment Is Down Across The Board

Under President Trump, The Unemployment Rate Has Decreased From 4.8 Percent To 4.5 Percent. (Bureau Of Labor Statistics , Accessed 4/12/17)

  • Under President Trump, The Unemployment Rate For 16-24 Year Olds Has Decreased From 10.1 Percent To 9.1 Percent. (Bureau Of Labor Statistics , Accessed 4/12/17)
  • Under President Trump, The Unemployment Rate For 20-24 Year Olds Has Decreased From 8.3 Percent To 7.3 Percent. (Bureau Of Labor Statistics , Accessed 4/12/17)
  • Under President Trump, The Unemployment Rate For 25-34 Year Olds Has Decreased From 4.9 Percent To 4.5 Percent. (Bureau Of Labor Statistics , Accessed 4/12/17)
  • Under President Trump, The Hispanic Unemployment Rate Has Decreased From 5.9 Percent To 5.1 Percent. (Bureau Of Labor Statistics , Accessed 4/12/17)

Average Wages Are Higher

Under President Trump, Average Hourly Earnings For All Employees Have Increased From $26.02 To $26.14. (Bureau Of Labor Statistics , Accessed 4/12/17)

Hundreds Of Thousands Of New Jobs Have Been Created

Under President Trump, The Nation Has Gained 317,000 Nonfarm Jobs. (Bureau Of Labor Statistics , Accessed 4/12/17)

Consumer Confidence Is Rising And Business Owners Are More Optimistic About The State Of The Economy Than Ever Before

The Economy Has Seen "Improving Consumer And Business Sentiment" Since President Trump Was Elected. "This broadly squares with improving consumer and business sentiment readings we've seen since the election, as taking the leap of faith to move from not looking for work at all to attempting to find a job requires some level of confidence about the economy." (Myles Udland, "January Job Gains Crush Expectations, Wage Growth Disappoints," Yahoo! Finance , 2/3/17)

"Consumer And Business Confidence Have Surged In The Wake Of Trump's Election Victory Last November." "Although details on the policy proposals remain sketchy, consumer and business confidence have surged in the wake of Trump's election victory last November." (Lucia Mutikani, "U.S. Job Growth Accelerates In January, But Wages Lag," Reuters , 2/3/17)

Business Insider : "Consumer Confidence Has Surged In The Wake Of The US Election, As Improved Outlooks For Growth And Jobs Have Bolstered The Index." "Consumer confidence has surged in the wake of the US election, as improved outlooks for growth and jobs have bolstered the index." (Bob Bryan, "Consumer Confidence Soars To The Highest Level In 12 Years," Business Insider , 1/27/17)

According To Gallup, In The Immediate Aftermath Of The Election, Americans' Confidence In The U.S. Economy Rose By 13 Points. "Americans' confidence in the U.S. economy increased sharply after the election, moving from a slightly negative evaluation (-10) to a slightly positive one (+3). Gallup's U.S. Economic Confidence Index had been consistently negative throughout the year leading up to the election." (Justin McCarthy and Jeffrey M. Jones, "U.S. Economic Confidence Surges After Election," Gallup , 11/15/16)

President Trump's Pro-Growth Agenda Is Spurring Businesses To Hire "Aggressively." "'Confidence is playing a large role,' Mark Zandi, chief economist of Moody's Analytics, told CNBC. 'Businesses are anticipating a lot of good stuff - tax cuts, less regulation. They are hiring more aggressively.'" (Jeff Cox, "Job Creation Posts Blowout Month In February: 289,000 Jobs Added To Private Sector," NBC News , 3/8/17)

Consumers And CEOs Are "Excited" For President Trump's Pro-Growth Agenda. "But the reason consumers and CEOs are so excited is because they expect Trump to get going on his 'pro-growth agenda.'" (Heather Long, "There's One Thing Going Right For Trump," CNN , 2/17/17)

The Jobs Market "Began 2017 On A High Note…Amid A Burst Of Business Confidence In The Trump Administration." "The labor market began 2017 on a high note as U.S employers added 227,000 jobs in January, raising the prospect of solid hiring this year amid a burst of business confidence in the Trump Administration." (Paul Davidson, "January Jobs Report Crush Expectations: 227,000 Added," USA Today , 2/3/17)

Businesses "Have Adopted A More Positive Outlook Since Trump's Election Victory In November," With Private Sector Optimism Soaring On Trump's Push To Cut Taxes, Eliminate Burdensome Regulations, And Invest In Infrastructure. "Measures of business sentiment indicate that many employers have adopted a more positive outlook since Trump's election victory in November. The president's promised tax cuts, deregulation and infrastructure spending have increased optimism that the economy's sluggish pace of growth will pick up. The National Federation of Independent Business said its measure of small business optimism soared 38 points in December to its highest level since 2004. And the Conference Board's consumer confidence index jumped to a 15-year high in December before dipping slightly last month." (Christopher S. Rugaber, "US Added A Healthy 227K Jobs Last Month; Rate Up to 4.8 Pct.," Associated Press , 2/3/17)

President Trump's Pro-Growth Agenda Is Causing Consumers, Small Business Owners, And CEOs To Be Optimistic. "While the Conference Board didn't mention President Trump by name, it would appear that average Americans -- much like small business owners and CEOs -- are excited about the possibility of tax reform and stimulus. 'Consumers' assessment of current business and labor market conditions improved considerably. Consumers also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects,' said Lynn Franco, director of economic indicators at The Conference Board, in a release." (Paul La Monica, "Consumer Confidence Soars Under Trump. Here's What It Means," CNN , 3/8/17)

Manufacturers Have "Never Been More Confident In The Economy." "According to NAM CEO Jay Timmons, the reading from the survey was the highest in its history. 'This quarterly survey of our 14,000 members has been going on for 20 years, and to the point you made, this was the highest level of optimism that our manufacturers have expressed in 20 years,' Timmons said. 'The other statistic that I think you'll find interesting if the right track wrong track question that our manufacturers answered. Just a month before inauguration, the right track number was only 26%, today it is over 60%. So that's a huge growth.'"(Bob Bryan, "Trump Boasts: Manufacturers Have Never Been More Confident In The Economy," Business Insider , 3/31/17)

February

In February 2017, Consumer Confidence Index Rose To 114.8, Its Highest Level In More Than 15 Years. "Consumers' assessment of current conditions in the U.S. increased in February, according to a monthly survey released on Tuesday. The Consumer Confidence Index hit 114.8 in February, according to data from The Conference Board, the highest since July 2001." (Berkeley Lovelace Jr., "Consumer Confidence Hits 114.8 In February, Versus 111 Estimate," CNBC , 2/28/17)

  • According To The Conference Board, Expectations Have Improved Regarding The Economic Outlook And Consumers Expect The Economy To Keep Expanding In The Months Ahead. "Expectations improved regarding the short-term outlook for business, and to a lesser degree jobs and income prospects. Overall, consumers expect the economy to continue expanding in the months ahead." ("Consumer Confidence Survey," The Conference Board , 2/28/17)
  • Consumers Expect The Number Of Jobs And Income To Grow In The Coming Months. "The proportion expecting more jobs in the months ahead increased from 19.7 percent to 20.4 percent, while those anticipating fewer jobs declined from 14.4 percent to 13.6 percent. The percentage of consumers expecting their incomes to increase rose marginally from 18.1 percent to 18.3 percent, while the proportion expecting a decrease declined from 9.4 percent to 8.2 percent." ("Consumer Confidence Survey," The Conference Board , 2/28/17)

Gallup's U.S. Economic Confidence Index Hit The Highest Weekly Average In 9 Years . "Many Americans either gained or regained economic optimism last week, as Gallup's U.S. Economic Confidence Index soared seven points to hit +16. This marks the highest weekly average in Gallup's nine-year trend." (Andrew Dugan, U.S. Economic Confidence Index At Record High Of +16," Gallup , 3/7/17)

In February 2017, The Bloomberg Consumer Comfort Index Rose To A 10 Year High. "Consumer comfort index rose to 50.6 in the period ended March 5, the highest since March 2007, from 49.8." (Austin Weinstein, "U.S. Consumer Comfort Just Reached Its Highest Level In A Decade," Bloomberg , 3/9/17)

  • The Gauge Of The Economy Rose To The Highest Level In 15 Years. "Gauge of economy advanced to 48.2, the highest since August 2001, from 46.8." (Austin Weinstein, "U.S. Consumer Comfort Just Reached Its Highest Level In A Decade," Bloomberg , 3/9/17)
  • The Buying Climate Measure Rose To The Strongest Level In Almost 15 Years. "Buying-climate measure rose to 44.5, the strongest reading since April 2002, from 43.7." (Austin Weinstein, "U.S. Consumer Comfort Just Reached Its Highest Level In A Decade," Bloomberg , 3/9/17)

The Consumer Gauge Has Gone Up Five Of The Last Six Weeks Since President Trump Took Office. "Stock indexes near record highs and persistent strength in the job market have lifted the consumer comfort gauge in five of the last six weeks since the inauguration of President Donald Trump." (Austin Weinstein, "U.S. Consumer Comfort Just Reached Its Highest Level In A Decade," Bloomberg , 3/9/17)

March

In March 2017, The Consumer Confidence Index Rose To 125.6. "The Conference Board Consumer Confidence Index, which had increased in February, improved sharply in March. The Index now stands at 125.6 (1985=100), up from 116.1 in February." ("The Conference Board Consumer Confidence Index Increased Sharply in March," The Conference Board , 3/28/17)

  • Consumer Confidence Rose To Its Highest Level Since December 2000. "Consumer confidence increased sharply in March to its highest level since December 2000 (Index, 128.6)," said Lynn Franco, Director of Economic Indicators at The Conference Board." ("The Conference Board Consumer Confidence Index Increased Sharply in March," The Conference Board , 3/28/17)
  • According To The Conference Board, Consumers' Assessment Of Current Labor And Market Conditions Have Improved "Considerably." "Consumers' assessment of current business and labor market conditions improved considerably. Consumers also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects." ("Consumer Confidence Survey," The Conference Board , 3/28/17)
  • More Consumers Are Seeing Market Conditions As Good Consumers And Less Are Seeing Them As Bad. "Consumers' appraisal of current conditions improved considerably in March. The percentage saying business conditions are 'good' increased from 28.3 percent to 32.2 percent, while those saying business conditions are 'bad' decreased from 13.4 percent to 12.9 percent." ("Consumer Confidence Survey," The Conference Board , 3/28/17
  • Consumers View The Number Of Jobs As "Plentiful" Less Hard To Come By. "Consumers' assessment of the labor market was also more positive. The percentage of consumers stating jobs are 'plentiful' rose from 26.9 percent to 31.7 percent, while those claiming jobs are 'hard to get' decreased moderately, from 19.9 percent to 19.5 percent." ("Consumer Confidence Survey," The Conference Board , 3/28/17)

Gallup's U.S. Economic Confidence Index Continues To Reflect Americans' Optimism About The Economy . "Americans remained about as upbeat about the economy in March as they were in February, with Gallup's U.S. Economic Confidence Index averaging +9 for the third month of 2017." (Justin McCarthy, "US Economic Confidence Index Unchanged in March," Gallup , 4/4/17)


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