Spartanmack
Senior Member
- Joined
- Jul 9, 2013
- Messages
- 17,398
The numbers simply don't back that statement up.
Maybe when you only look at the headline number, but it's not that simple. Under Obama the bulk of the decrease in unemployment came from discouraged workers leaving the labor force - when you decrease the numerator and denominator 1 for 1, the ratio (the unemployment rate) goes down. Under Trump the Labor Force Participation rate starts to rise which by itself would lead to an increase in unemployment but unemployment continues to to decrease.
Click on "Black or African American" and "Hispanic or Latino" in this chart to see the trends
When you scratch the surface a little bit, it's clear that the numbers do back up the statement.
The 3rd and 4th quartiles have been steadily increasing since 2014. Even Trump's best quartile (the 1st, of course) doesn't come close to pre 2002 wage growth levels (4.6% vs 7.0%) so I'm not aware of the records you're speaking of.
Doesn't really change the fact that the bottom two quintiles have had the fastest growth rate over the past two quarters - something that didn't happen under Obama. Backs up the point that Trump's economy and policies don't benefit the rich at the expense of the poor and working class and that Trump's policies appear to be helping the poor and working class more than Obama's ever did.
Again, I just don't see this massive difference you're referring to.
the economy under Obama may have had some higher highs, but it also had much, much lower lows turning negative twice not counting the 2009 recession. The economy so far under Trump has been positive and consistent. In 32 quarters during the Obama administration there were 5 quarters that outpaced GDP during Trumps 12 and 2 of those happened during the snap back from 2009. You have to play around with the slide on the timeline a little bit to zero in on the right date range...
https://fred.stlouisfed.org/series/A191RL1Q225SBEA
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