As debate continues on the strength of the U.S. economy and the specter of a possible recession looms, we highlight a new analysis from The Washington Post comparing the Trump and Obama economies.
Comparing The Trump & Obama Economies
In the last week the national media has grown increasingly vocal about the possibility of a recession hitting the U.S. economy in the coming months. The speculation has received pushback from the Trump administration, as senior adviser Kellyanne Conway told reporters earlier this week that the “fundamentals” of the economy remain strong. As experts continue to debate the merits of the conflicting signals, The Washington Post published a helpful article of graphs comparing the economy under President Obama to President Trump. Some of the most helpful graphics and commentary are below:
Wages: During the Trump presidency, the typical American worker’s pay has grown more than 3 percent a year, a level not seen since before the Great Recession. The Washington Post notes that “most Americans saw a noticeable decline in their income during the Great Recession, and it took years for wages to recover. In 2017, a typical middle-class family finally saw their income climb above where it was in 1999.”
Jobs Gains: “The U.S. economy typically added more than 250,000 jobs each month in 2014 and 227,000 a month in 2015. Trump has not been able to top that yet, but experts say job growth remains surprisingly robust, especially given how many baby boomers are retiring and how many business owners complain that they can’t find any more workers.”
Unemployment: “The nation’s unemployment rate is at a half-century low, a source of pride for Trump. But many economists have pointed out that the rate has been falling steadily since 2011, making it difficult to see much difference after Trump took office.”
Stock Market: “The Dow Jones industrial average was up 46 percent at this point in Obama’s presidency vs. 25 percent for Trump. Stocks soared under Obama, and he ended his White House tenure with one of the best gains of any president in modern history.”
