Throughout his entire campaign for the 2016 election, then-candidate Donald Trump promised the American people that he would bring more manufacturing jobs back to America.
This promise drew much criticism from far Left Democrats who scoffed at him, including former President Obama, who arrogantly stated that jobs “are just not going to come back” and claimed Trump would need a “magic wand.”
Well it appears that President Trump does have a magic wand. Check out what Forbes Magazine reported:
While President Obama’s time in office did see job gains, even in manufacturing, it’s important to note that jobs always come back in a post-recession recovery. But comparing the nation’s most-recent economic recovery from the trough in June 2009, the pace of job growth was slower in Obama’s tenure than in any past recovery—except for the rebound from the mild eight-month recession in 2001, following the deflation of the dot-com bubble.
Much of the blame for the weak economy can be set at the feet of two failed economic policies: monetary and fiscal. From the reliance on the Federal Reserve’s easy money—$4.5 trillion of “quantitative easing”—to the Troubled Asset Relief Program (TARP) started under President Bush to Obama’s Cash For Clunkers program, the post-2009 recovery was marked by government intervention at levels not seen since the Great Depression 70 years earlier.
Obama wasn’t the only critic of Trump’s claims.
Back in 2016, New York Times columnist and economist Paul Krugman said, “Nothing policy can do will bring back those lost jobs. The service sector is the future of work; but nobody wants to hear it.”
Well it looks like the “experts” were wrong once again.
Last Friday, the February jobs report showed just how well the Trump economy is doing:
Yet last Friday, the U.S. Bureau of Labor Statistics issued its February jobs report. Comparing the Trump administration’s first 26 months of employment data with the last 26 months under Obama is insightful.
Both periods are considered by most economists to be in the mature stage of the business cycle. In Obama’s case, slow economic growth, especially regarding sluggish manufacturing employment, was considered the “new normal.” The national economy grew by 1.6% in 2016, Obama’s last year.
From October 2014 to December 2016, private sector employment grew by 4.2% as the unemployment rate dipped to 4.7%. In the past 26 months, private employers have grown their payrolls by 4.0% as the job market has tightened considerably, with official unemployment dropping to 3.8%.
While overall employment numbers are comparable, the difference in manufacturing is profound. In the last 26 months of Obama’s presidency, manufacturing employment grew by 96,000 or 0.8%. In Trump’s first 26 months, manufacturers added 479,000 jobs, or 3.9%, 399% more jobs than Obama’s record.
I guess President Trump does have a “magic wand!”
Or maybe he is just a smarter and better President who brings better policies to the table.
Democrats spend 24/7 mocking and doubting the President but they always seem to be proved wrong in the end.
Trump will always get the last laugh!
What are your thoughts? Let us know in the comments below!