In rare moments when liberals admit a few not-so-terrible things have happened during Trump’s presidency, they credit Trump’s success to the “continuation of a trend” President Barack Obama began. Perhaps Trump did achieve the lowest African American unemployment figures in history, they say, but he was the beneficiary of Obama’s legacy, when most of the economic hope and change really happened. Nothing could be further from the truth
Over the past 40 years, the inflation-adjusted growth trend for the U.S. median weekly wage has been $4.05 per quarter. During the first three years of the Trump administration, it was a staggering $6.90 per quarter.* During the Obama years, median wages grew at the anemic rate of $3.20 per quarter.
But what if we cherry pick the last (best) three years of the Obama era? We see growth of $5.08, more than a dollar higher than the historic trend. But that is the lone bright pixel in an otherwise dreary picture. And Trump has bested that by a mile.
The story grows quite interesting when we focus on wage earners in lower brackets. According to data from the U.S. Bureau of Labor Statistics, the 20-year growth trend for the 10th percentile weekly wage was $2.03 per quarter. For Trump’s first three years, wage growth was $4.95.
What about in the Obama era? Even cherry picking Obama’s last three years and ignoring the 2009 recession leaves us with growth of $1.68 per quarter, well below both the historic trend and Trump’s. Table 1 shows striking wage growth under Trump, a reversal of prior patterns, not a continuation, especially in the lowest wage brackets.
Trump Benefited Black Americans More Than Obama Did
During the final presidential debate, President Trump boldly stated he has done more for black Americans than any president since Abraham Lincoln. And he is not so sure Abe did better. While liberals fact-checked his hyperbole, we may employ the quaintly anachronistic approach of using data and logic. The Obama era proved dispiriting for many African American wage earners. The first three years of the Trump administration were a comparative godsend.
Obama oversaw the addition of 2.1 million African American wage earners during eight years in office, about 250,000 per year. Table 2 reveals the tepid results in terms of wage growth. Trump oversaw the addition of 1.3 million African American wage earners in his first three years, more than 400,000 per year. Excellent wage growth occurred across the spectrum. The results for the 10th and 25th percentiles were remarkable.
The 10th percentile U.S. weekly wage grew by $3.25 per quarter for African Americans during Trump’s first three years, nearly double the historic rate of $1.65. The best Obama growth rate was only $1.68. Perhaps having a businessman at the helm of the world’s largest economy is not such a bad idea. Will any deniers admit they were wrong?
Link to U.S. Bureau of Labor Statistics data.
Americans remember the struggle to find work and make ends meet that many experienced during the Obama years. Pollster John Zogby found in August that Trump’s approval rating had reached a record high (for a Republican president in this century) of 36 percent among African Americans. Last week, Rasmussen reported Trump’s approval in his daily tracking pool had spiked up to 46 percent among African Americans.
Not all voters prioritize economic benefits, but many do. Freedom and autonomy play an integral part in the pursuit of happiness, and no recent president has done more than Trump to improve the plight of the working poor. Far better than misleading promises about future increases to the minimum wage, Trump’s policies delivered extra dollars to tens of millions of paychecks. Workers appreciate real wage growth. Each paycheck stretches further. Providing for loved ones becomes much easier.
Since African American wage earners reaped significantly higher economic rewards thanks to Trump than ever before, he has been confidently asking for their votes. The number willing to take him up on that offer could prove decisive. Trump-economy deniers may be in for a surprise when they learn just how many working-class Americans vote their pocket books this year.
Over the past 40 years, the inflation-adjusted growth trend for the U.S. median weekly wage has been $4.05 per quarter. During the first three years of the Trump administration, it was a staggering $6.90 per quarter.* During the Obama years, median wages grew at the anemic rate of $3.20 per quarter.
But what if we cherry pick the last (best) three years of the Obama era? We see growth of $5.08, more than a dollar higher than the historic trend. But that is the lone bright pixel in an otherwise dreary picture. And Trump has bested that by a mile.
The story grows quite interesting when we focus on wage earners in lower brackets. According to data from the U.S. Bureau of Labor Statistics, the 20-year growth trend for the 10th percentile weekly wage was $2.03 per quarter. For Trump’s first three years, wage growth was $4.95.
What about in the Obama era? Even cherry picking Obama’s last three years and ignoring the 2009 recession leaves us with growth of $1.68 per quarter, well below both the historic trend and Trump’s. Table 1 shows striking wage growth under Trump, a reversal of prior patterns, not a continuation, especially in the lowest wage brackets.
Trump Benefited Black Americans More Than Obama Did
During the final presidential debate, President Trump boldly stated he has done more for black Americans than any president since Abraham Lincoln. And he is not so sure Abe did better. While liberals fact-checked his hyperbole, we may employ the quaintly anachronistic approach of using data and logic. The Obama era proved dispiriting for many African American wage earners. The first three years of the Trump administration were a comparative godsend.
Obama oversaw the addition of 2.1 million African American wage earners during eight years in office, about 250,000 per year. Table 2 reveals the tepid results in terms of wage growth. Trump oversaw the addition of 1.3 million African American wage earners in his first three years, more than 400,000 per year. Excellent wage growth occurred across the spectrum. The results for the 10th and 25th percentiles were remarkable.
The 10th percentile U.S. weekly wage grew by $3.25 per quarter for African Americans during Trump’s first three years, nearly double the historic rate of $1.65. The best Obama growth rate was only $1.68. Perhaps having a businessman at the helm of the world’s largest economy is not such a bad idea. Will any deniers admit they were wrong?
Link to U.S. Bureau of Labor Statistics data.
Americans remember the struggle to find work and make ends meet that many experienced during the Obama years. Pollster John Zogby found in August that Trump’s approval rating had reached a record high (for a Republican president in this century) of 36 percent among African Americans. Last week, Rasmussen reported Trump’s approval in his daily tracking pool had spiked up to 46 percent among African Americans.
Not all voters prioritize economic benefits, but many do. Freedom and autonomy play an integral part in the pursuit of happiness, and no recent president has done more than Trump to improve the plight of the working poor. Far better than misleading promises about future increases to the minimum wage, Trump’s policies delivered extra dollars to tens of millions of paychecks. Workers appreciate real wage growth. Each paycheck stretches further. Providing for loved ones becomes much easier.
Since African American wage earners reaped significantly higher economic rewards thanks to Trump than ever before, he has been confidently asking for their votes. The number willing to take him up on that offer could prove decisive. Trump-economy deniers may be in for a surprise when they learn just how many working-class Americans vote their pocket books this year.
Under Trump, Americans Have Seen Their Best Wage Growth In 40 Years
More than any other president in 40 years, Donald Trump has benefited working-class Americans, especially African Americans.
thefederalist.com
