Forums Forums - Off Topic Forum FUN

Go Back   Forums Forums - Off Topic Forum FUN > Off Topic Forums > Business 101 Forum

Business 101 Forum Small Business, Big Business, ...any business talk here.

Thread Tools Search this Thread Display Modes
Old 01-13-2020, 03:44 PM
jim slagle's Avatar
jim slagle jim slagle is offline
Spammer Hammer

Join Date: Oct 2005
Location: Back Home in Texas
Posts: 16,151
Thanks: 49,790
Thanked 26,705 Times in 10,237 Posts
jim slagle is on a distinguished road
Default Trump's average unemployment rate is the lowest in recorded history

Trump's average unemployment rate is the lowest in recorded history
by Philip Klein | January 10, 2020 11:16 AM

President Trump starts off 2020 having presided over a lower average unemployment rate than any president at a comparable point in office in recorded history.

On Friday, the Bureau of Labor Statistics reported that the unemployment rate held steady at a historically low 3.5% in December. Since February 2017, Trump's first full month in office, the monthly unemployment rate has averaged 3.9%. No prior president has averaged less than 4% over the first 35 months of his presidency. The closest was Dwight Eisenhower, when the rate averaged 4.3% between February 1953 and December 1955.

Modern unemployment statistics did not start being kept until 1948, after Harry Truman's first 35 months in office, so this analysis only starts with Eisenhower. Nonetheless, it does point to the unprecedented nature of this consistently low level of unemployment.

To be sure, this statistic isn't predictive of the election outcome. The economy is only one of many factors that voters use to evaluate incumbent presidents. Also, voters tend to weigh the trend of the economy, which is not reflected in the average. For instance, George H.W. Bush averaged lower unemployment during the first 35 months of his presidency than his predecessor, Ronald Reagan. But the Reagan economy started weak, then expanded rapidly in the run-up to his reelection, whereas Bush inherited an economy in decent shape and was voted out of office when it had declined.

But Trump's case is unique because he took over a recovering economy with unemployment already at 4.6%, and the rate continued to go down and stay low. So now he starts off his potential reelection year with a record of consistently low unemployment that's currently holding steady at 3.5%.

It's still possible the economy will decline in time for it to hurt Trump in the election. And the Trump presidency has been polarizing for many other reasons. Despite the economic news, more Americans still disapprove of his performance than approve of it. Nevertheless, the job market has been objectively good under Trump, and it's one factor that he has going for him even as other factors cut against him.

The United States Constitution ©1787. All Rights Reserved

Sometimes I'm fast. Most of the time I'm half fast!

Never put off till tomorrow what you can avoid all together!

Friends come and go, but enemies accumulate

Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Average Cost of Thanksgiving Dinner Drops To Lowest Price Since 2010 pirate_girl Off Topic Debate Forum 2 11-19-2018 02:03 PM
African American unemployment is the lowest EVER RECORDED Lenny Political Debate Forum 5 01-19-2018 09:51 PM
Unemployment Rate climbs to 8.2% TiredRetired Political Debate Forum 7 06-01-2012 06:02 PM
Unemployment Rate Drops joec Open Forum 30 12-03-2011 12:12 AM
Why Switzerland Has The Lowest Crime Rate In The World pirate_girl Open Forum 11 12-14-2009 05:02 PM

All times are GMT -4. The time now is 06:43 AM.

Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Copyright © 2002 - 2020