- Graham: ‘I Know What Was Said’
- Celebrities Blame Trump For Hawaii Missile Scare
- Trump’s First Year As President Resulted In Less Jobs Created Than Obama’s Last Year
- Trump Campaign Aide Spoke Of Possible Russia Collusion During Drunken Conversation
- Trump Lawyers Will Cast Flynn as a Liar
- Sanders: Republicans Should Be Worried About 2018
- Mueller Expanding Probe to RNC
- Obama, Clinton Top List As Most Admired Man, Woman
- Rosenstein Defends Mueller In Judiciary Testimony
- Fox News Host Says Mueller Should be ‘Handcuffed’
Trump’s First Year As President Resulted In Less Jobs Created Than Obama’s Last Year
The U.S. jobs report from December came out on Friday morning, and by most accounts it didn’t meet expectations.
Around 148,000 jobs were added last month, a rate that was 22 percent lower than what economists had predicted. Unemployment was unchanged at 4.1 percent.
For the entirety of the year, of which President Donald Trump was in office for 11.5 months, the U.S. created around 2.05 million jobs, a decent amount all things considered. Yet that number paled in comparison to the last year of former President Barack Obama, who presided over an economy in 2016 that created closer to 2.24 million jobs.
Put in another way, the average jobs growth under Obama in his last year in office was around 187,000 per month. Under Trump, that slipped to about 171,000, per Fox News of all places.
Average Monthly #Job Gains
— Fox News Research (@FoxNewsResearch) January 5, 2018
In fact, annual jobs growth hasn’t been this slow since the effects of the global recession wore off in 2010. That doesn’t bode well for Trump, who likes to tout himself as strong on the economy.
To be fair, part of the slow-down has to do with the fact that workers are employed. Starting at 4.7 percent unemployment at the end of 2016 meant that Trump had very little wiggle-room to work with in order to let employers hire.
But that reaches to the larger point as well: Trump inherited a strong economy from Obama. There’s nothing that Trump did that significantly altered the effects of that economic inheritance either, which means what gains we did see were likely the result of the good economy that had already been established under his predecessor.
That said, we shouldn’t expect much from Trump in 2018. Although he claims that his tax bill will create jobs and increase pay, there’s not much evidence to say that’s going to be the case. If anything, we can expect the rich to get richer while the rest of us get table scraps, if that — not exactly something to be excited for at the start of 2018.