Donald Trump is a total size queen. We have all known that. At rallies, he is sure to mention crowd size. When he was inaugurated, there was that whole crowd size fiasco. Furthermore, Trump is known for flagrantly exaggerating numbers to make himself look good.
However, multiple outlets reported some disappointing numbers that we wholly expect will cause Trump to have an aneurysm. According to Business Insider, fewer jobs were added to the US work force than expected and unemployment actually ROSE. Even Fox Business reported the disappointing news.
‘A report Friday from the Bureau of Labor Statistics showed that the US economy added 156,000 jobs in August, fewer than economists had expected. The unemployment rate rose to 4.4% from 4.3%.’
Economists originally predicted a growth of 180,000 jobs.
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Though Hurricane Harvey’s devastation will cause a huge drop in the work force, the report was conducted before the storm hit. However, it will definitely have an effect on the job market. Chief economist at Northern Trust Carl Tannenbaum commented:
‘It’s going to be more difficult in the next two months to gauge the jobs market. The next one or two months are going to be colored by the impact of Hurricane Harvey.’
Retail jobs did increase; however, many stores have been closing across the nation. Only 800 jobs were added to the retail work force.
Additionally, manufacturing jobs increased with 36,000 added.
The problem, though, was the fact wage growth appeared to remain stagnant. Business Insider explained that was due to older Americans retiring.
‘Wage growth was expected to pick up slightly but remains sluggish. That’s partly because baby boomers are retiring and being replaced by young workers with low-paying jobs. Average hourly earnings rose 0.1% month-on-month, softer than expected, and 2.5% year-on-year, both weaker than expected.’
Washington Examiner reported some blame could be laid on Americans who simply have given up any attempt at finding jobs after many years of low employment. Employers blamed a lack of potential employees. They also reported the Federal Reserve believed employers will be forced to offer higher pay to attract employees – which would lead to a faster wage growth. In fact, Fed Bank of Minneapolis president Neel Kashkari said:
‘If you’re not raising wages, then it just sounds like whining.’
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One of Trump’s big talking points was the U.S. economy. He promised he would have it booming to a point America would grow tired of winning all the time. However, it does not appear that way. It actually appears more like it will be harder than just stumping at rallies to get job opportunities to flourish for Americans. It may grow; however, it will not be immediate. Furthermore, it will take much more than just tweeting about how great the economy is to get it to pick up and grow. Perhaps, that is why Trump has held rallies across the nation trying to shill his tax reform agenda. Moreover, Republican politicians will have to add increasing the minimum wage if they want people to go to work.