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Fact Sheet - President Donald J. Trump Has Worked to Build a Booming Economy that Improves the Lives of All Americans

February 05, 2019

"Everywhere we look, we are seeing the effects of the American economic miracle." --President Donald J. Trump

CONTINUING THE ECONOMIC BOOM: President Trump has delivered on his promise to reignite the American economy and usher in a new economic boom.

  • More than 5.3 million jobs have been created since President Trump's election.
    • The economy added 304,000 jobs last month, smashing expectations.
  • Economic growth has taken off, averaging 3 percent over the last four quarters.
  • Job openings have exceeded the number of unemployed for the first time on record.
  • Unemployment remained below 4 percent for eight months in 2018.
    • Prior to 2018, unemployment had fallen below 4 percent only five times since 1970.
    • The African American, Asian American, and Hispanic American unemployment rates all fell to record lows in 2018.
  • Unemployment insurance claims have fallen to a nearly 50-year low under President Trump.
  • President Trump has brought back American manufacturing, adding hundreds of thousands of manufacturing jobs since the election.
    • An average of 18,500 manufacturing jobs have been created every month since President Trump's election, compared to 8,100 per month in the four years prior.

OPEN FOR BUSINESS: America is open for business once again thanks to the President's pro-growth agenda, bringing back investment and jobs that had been driven overseas.

  • Business is thriving in America thanks to President Trump's historic tax cuts and deregulation.
  • President Trump has cut a record number of job-killing regulations, freeing businesses from Washington's overreach.
    • The Trump Administration eliminated 12 regulations for every new one in 2018, once again surpassing the President's pledge to cut two regulations for every new one.
    • The President's deregulation has achieved $33 billion in net regulatory savings so far.
  • President Trump signed the Tax Cuts and Jobs Act into law, lowering the corporate tax rate to spur investment and growth here at home.
    • Prior to the President's tax cuts, the United States had the highest corporate tax rate in the world, driving business and jobs overseas.

DELIVERING REAL RESULTS FOR WORKERS AND FAMILIES: Americans are seeing real results and more money in their pockets as a result of our economic resurgence.

  • Workers are seeing their largest nominal year over year wage growth in nearly a decade.
    • Year over year wage gains increased by 3.3 percent in December, the fastest pace since April 2009.
  • The African American and Hispanic American poverty rates hit all-time lows in 2017.
  • More than 6 million workers received bonuses, pay raises, and increased benefits in response to President Trump's tax cuts.
    • The average family of 4 earning $75,000 will keep $2,000 more of its own money.
  • The President will work to build on these gains and better the lives of all Americans.
  • The President has unleashed our energy resources, driving down prices for consumers.

Donald J. Trump, Fact Sheet - President Donald J. Trump Has Worked to Build a Booming Economy that Improves the Lives of All Americans Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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