The Patriot Post® · The Economy Remains Strong Under President Trump
MARCH JOBS GROWTH TRIPLES EXPECTATIONS
- Newly released data shows the economy added a whopping 178,000 jobs in March.
- This tripled the expectation of 59,000 from economists.
- Manufacturing and construction jobs both saw increases.
- The economy has added 609,000 private sector jobs since President Trump took office.
- Federal government employment is down by 352,000.
- Since President Trump took office, 218,000 native-born Americans have gained employment.
- 193,000 native-born Americans have also joined the labor force.
- The unemployment rate fell to 4.3% from 4.4%.
- Jobless claims have fallen to just shy of a two-year low.
WAGES AND PAYCHECKS ARE INCREASING UNDER PRESIDENT TRUMP
- Average hourly earnings rose by 0.2% from last month.
- Average hourly earnings are up 3.5% from one year ago.
- Thanks to President Trump’s historic tax cuts, the average tax refund is up almost 11% from one year ago.
- Due to the provisions of no tax on tips, overtime, and Social Security, the average tax refund is nearly $3,600 this year.
- In just one year under President Trump, blue-collar workers have made up all the wages they lost under Biden.
- Real earnings for private-sector workers outpaced inflation by nearly $1,400 during President Trump’s first year in office.
LOW INFLATION AND LOWER FOOD, DRUG, AND HOUSING PRICES
- President Trump is bringing down prices after record-high inflation under Joe Biden.
- Inflation is sitting at just 2.4%, well below the 3.0% from when President Trump took over.
- Core inflation – which strips the volatile prices of food and energy – is at a 5-year low at just 2.5%.
- Many common household staples have all seen prices fall since President Trump took office including flour, spaghetti and macaroni, white bread, bacon, pork chops, chicken, American cheese, ice cream, oranges, lemons, strawberries, and potatoes.
- Just in time for Easter, egg prices are down nearly 50% from when President Trump took office and 60% since last Easter.
- Thanks to President Trump, prescription drug prices have fallen 0.7% over the last year.
- Last year, President Trump signed an executive order establishing Most-Favored-Nation drug pricing, which forces drug companies to lower prices so Americans can pay a fair price for their prescriptions.
- President Trump sent a letter to the leading pharmaceutical manufacturers outlining how they must bring down the cost of prescription drugs to match the lowest price of other nations.
- Americans will now pay the lowest cost for prescription drugs that other nations have been paying.
- Since then, the president has been able to secure deals with 16 major pharmaceutical companies including AstraZeneca, Eli Lilly, EMD Serono, Novo Nordisk, and Pfizer.
- Due to these unprecedented efforts, TrumpRx was launched, a direct-to-consumer government website will allow Americans to purchase dozens of popular prescription drugs at a discounted price negotiated by the government.
- Americans can print coupons or download them to their phones which can be used at pharmacies for reduced drug costs.
- Medication costs for arthritis, obesity, infertility, and other chronic conditions will all be lowered.
- The average 30-year mortgage rate is lower since President Trump took office.
- Average rent prices are also down 1.7% compared to one year ago.
INVESTING IN AMERICA
- President Trump has secured trillions of dollars’ worth of investments, creating good paying jobs within the United States.
- In March alone:
- AT&T announced it will spend more than $250 billion over five years to expand its telecom infrastructure.
- Ireland pledged to invest over $6 billion in new investment in the U.S.
- Japan pledged $73 billion in new investment in U.S. energy infrastructure, including nuclear and natural gas projects.
- Mercedes-Benz announced it will invest $4 billion at its Alabama plant through 2030.
- Apple pledged to invest $400 million to expand U.S. manufacturing of key components like chips and sensors.
DEREGULATION IS SAVING MONEY FOR THE AMERICAN TAXPAYER
- President Trump is slashing red tape and unnecessary regulations which will help Americans save money.
- This past December, President Trump changed the Biden-era Corporate Average Fuel Economy (CAFE) standards which led to higher costs for vehicles.
- This move will save American families $109 billion over the next five years.
- President Trump also eliminated the Obama-era “Endangerment Finding” which allowed unelected bureaucrats to impose trillions of dollars of hidden costs on American families.
- This deregulation action will save American taxpayers over $1.3 trillion.
- Deregulation efforts from 2025 are projected to save Americans roughly $212 billion – about $600 per American.
REPUBLICAN STATES ARE LEADING THE CHARGE
- 16 of the top 20 states with the lowest unemployment rates are led by Republican governors.
- Meanwhile 9 of the states 13 states with the highest unemployment rates are led by Democrat governors.
Originally published here.