Business Review Board / July 5, 2019

June Jobs and the Rising Economic Tide

Far from the recession Dems hope for, the American economy is humming along.

The May jobs report was rather disappointing, and Democrats declared it to be a sign of the recession they want heading into 2020. However, robust hiring in June may have dashed Demo hopes.

“The U.S. economy added 224,000 jobs in June,” reports The Washington Post, which then couldn’t resist a little Resist™ jab — “surging past expectations and helping ease fears about the nation’s economic health in the midst of President Trump’s trade war.”

A note on that trade war: Donald Trump didn’t start it; the Chinese did. He’s just the first president in 30 years to do anything about it. Yes, tariffs can be painful for American consumers, but fighting back against Beijing’s currency manipulation, intellectual property theft, and generally unfair practices takes some sacrifices. Meanwhile, the American economy is still growing — including adding jobs in manufacturing — because it’s more robust and able to absorb the pain than China’s economy is.

The headline unemployment rate ticked up a notch to 3.7%. (Read that sentence again for effect.) And arguably the biggest problem for the economy right now is that businesses are struggling to find workers to fill job openings.

Despite Democrat debate rhetoric about the economy “not working for everyone,” The Wall Street Journal reports, “Wages are rising at the fastest rate in a decade for lower-skilled workers, and unemployment among less-educated Americans and minorities is near a record low.” Furthermore, “Unemployment has fallen twice as much among blacks as whites since December 2016 … and minorities account for more than half of all new jobs created during the Trump Presidency.”

Quick — hide that news from Democrat voters.

While Obama focused on regulating and redistributing wealth for the sake of “equality,” what he achieved was a historically slow recovery and more inequality. Trump, by contrast, has focused on reducing regulation and taxes to achieve growth. And, lo and behold, the economy is growing. For all Americans.

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