President Trump touted the strongest “manufacturing job growth” in over two decades on social media Monday; saying the American economy “is only getting better” in the months ahead.
“Last year was the best year for American Manufacturing job growth since 1997, or 21 years. The previous administration said manufacturing will not come back to the U.S., ‘you would need a magic wand.’ I guess I found the MAGIC WAND – and it is only getting better!” tweeted Trump.
Last year was the best year for American Manufacturing job growth since 1997, or 21 years. The previous administration said manufacturing will not come back to the U.S., “you would need a magic wand.” I guess I found the MAGIC WAND – and it is only getting better!
— Donald J. Trump (@realDonaldTrump) January 21, 2019
The President’s praise comes as the federal government shutdown entered its fifth week; with Democrats refusing to budge on Trump’s border security compromise.
GREAT AGAIN: American Jobless Claims PLUMMET to 45 YEAR LOW
The US economy continues to soar under President Trump and the Republican-controlled Congress, with jobless claims dropping to just 221,000 in the first days of February; the lowest figures seen since March of 1973.
The 45-year-low signals the American recovery is in full-swing following years of low GDP growth and stagnant wages. Economists cite the recent gains as a direct result of a strong job growth and the President’s recently signed overhaul of the nation’s overly complicated tax system.
According to MarketWatch, the stunning numbers are a result of “big declines” in unemployment claims in Missouri, California, and New York; a result of 200,000 new private payroll jobs in January and an unemployment rate hovering at just 4.1%.
“Even better, the long-awaited uptick in worker wages might be in the offing. The yearly increase in hourly pay rose to a nine-year high of 2.9%,” MarketWatch adds.
The rosy economic outlook comes as major American corporations -such as AT&T, Walmart, Disney, Starbucks, American Airlines, Home Depot, FedEx, UPS, Visa, and others- announced their plans to raise wages, expand benefits, and pay out big bonuses in the wake of the GOP-led tax cuts late last-year.
GREAT AGAIN: America Regains Title of ‘World’s Most Competitive Economy’
The United States’ economy continued to roar to life under President Trump and the GOP-controlled Congress this month; officially regaining the title as the ‘World’s most competitive economy.”
The US topped the list for the first time since the ‘Great Recession’ of 2008, according to the World Economic Forum’s Global Competitiveness Report, scoring a whopping 85.6 index out of a possible 100.
“The ranking scores 140 economies on multiple drivers of competitiveness, including institutions and polices that drive productivity. Notably, this year the WEF adjusted its methodology so that its ranking has a better account of an economy’s future competitive advantages, including disruptive businesses and entrepreneurship,” writes Fox Business.
The other top five economies included Singapore, Germany, Switzerland, and Japan.
The strong economic report may spell disaster for Democrats heading into the 2018 midterm elections, with House Minority Leader Nancy Pelosi vowing to repeal the “GOP Tax Scam” should her party retake control of Congress this fall.
Read the full story at Fox Business.