The July jobs report is in line with the monthly average, a little higher than the same time last year, and reveals Trump is failing to amp up jobs but is maintaining the trend of the past seven years.
The economy added 209,000 jobs in July:
Bloomberg reported on the trend line for Trump, “The report will give a scorecard for the first six full months of President Donald Trump, who earlier this week said “jobs are starting to roar, watch!” The numbers don’t yet back that up: The average monthly gain of about 173,000 jobs since he took office is down from the average of 187,000 last year.”
The problem remains that the US has an aging population that is leading to low labor force participation. Contrary to Republican mythology, there aren’t millions and millions of people in the country lounging around who don’t want to work. Wages are flat because so many people want jobs that it is a “buyer’s market.” Employers can fill their vacancies without boosting wages.
Trump vowed to create 25 million new jobs, but he is on pace to barely create 2 million in 2017. Decreasing immigration into the country is only going to shrink the size of the labor pool more. Trump is failing as a jobs president.
With no economic policies of his own, Trump is riding Obama’s coattails, and while the growth is steady, it’s nothing close to the spectacular economy that he promised the American people in January.
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