Obviously Trumps deregulation and tax plan have worked wonders with the economy and jobs.
Sounds like a testable claim...
Separately, the president's Council of Economic Advisers touted the unemployment rate of other demographic groups on Friday, shortly after the latest jobs report was released.
...
The total unemployment rate is quite low, at 4.1 percent. That's not a record, but for comparison with that African-American rate, it is near its lowest point since 1972.
This leads to the bigger question of how much Trump has to do with any of this job growth, regardless of race or ethnicity.
By the jobs numbers themselves, it doesn't look like he has changed much here. In fact, the average job creation in Trump's first year is slightly lower than it has been in prior years. Employers added 171,000 new jobs each month, on average, in 2017. In 2016, that figure was 187,000, and in 2015, it was 226,000.
It is possible that the tax plan that Trump recently signed into law will inspire employers to hire more. Businesses could conceivably plow some of the money they save on their taxes thanks to that plan into job creation. In a late-November Yahoo poll of more than 1,200 business owners, half said the new tax plan would make them more likely to hire.
Then again, a majority of economists polled by the University of Chicago predict that long term, the tax plan won't lead to higher economic growth.
It's not that Trump has had zero effect on the economy. Though a strong global economy has been the main reason stocks are climbing ever higher, as NPR's Jim Zarroli reported in December, the president's agenda of deregulation and cutting corporate taxes has also likely very played some part in pushing stocks ever higher.
But the case that Trump has therefore significantly boosted job creation through the stock market isn't particularly strong, says one economist.
https://www.npr.org/2018/01/08/5765...loyment-rates-for-african-americans-hispanics
But I contend that the drastic drop in illegal alien crossing have helped African Americans employment among unskilled laborers. Who agrees?
If there's an economic downside to illegal aliens, it would be lower employment in low-wage jobs. Let's see...
“We’ve really had to change our tactics of how we source associates,” Mr. Traylor said. His company has begun working with high schools and community colleges to interest students in entry-level manufacturing and distribution jobs — paying about $15 an hour — which have been particularly hard to fill.
Skeptics argue that if the labor market were truly stretched, wages would be rising faster. Instead, year-over-year wage growth has declined since the end of last year to 2.5 percent, just a nose in front of inflation.
“That’s more of a softening than a tightening story,” said Jared Bernstein, who was chief economic adviser to Vice President Joseph R. Biden Jr. early in the Obama administration.
The skeptics included bond traders who drove yields down on Friday, betting that even if the Fed goes ahead with a rate increase this month, it will think twice about further moves in the second half of the year.
Also troubling is the decline in overall participation in the labor force, which has trudged along below 63 percent during the recovery, compared with more than 66 percent before the recession. Some of the tiny gains that had been made were knocked off in May, showing more people were dropping out of the labor force than returning.
“That’s always ugly,” said Mr. North, the Euler Hermes economist.
Moreover, he added, those who have been out of the job market for a while or lack up-to-date skills may have less bargaining power when they re-enter. Low wages and fluctuating schedules have also sown anxiety among many Americans.
Among political leaders, responses predictably split along partisan lines.
“We’re not worried about slowing job growth,” Gary D. Cohn, director of the White House’s National Economic Council, told CNBC.
https://www.nytimes.com/2017/06/02/business/economy/jobs-report.html
No reason to worry yet. The problem is that we're now into the ninth year of an economic expansion, and the debt is rising again. That's not the usual thing, and it's a sign of trouble ahead.
The Economy Is Soaring, And Now So Is The Deficit. That’s A Bad Combination.
Between costly tax cuts and last week’s hefty spending bill, Congress is generating deficits that aren’t just large, they’re also unprecedented and potentially ominous. And even with some optimistic assumptions, President Trump’s latest budget proposal wouldn’t eliminate these deficits — in fact, the president is still angling to add a potentially costly infrastructure plan on top of current spending. But when the economy is this strong, deficits are usually small and shrinking, not ballooning back toward $1 trillion.
https://fivethirtyeight.com/feature...ow-so-is-the-deficit-thats-a-bad-combination/
