If you’ve watched, listened, or read the words spoken by Donald Trump at one of his many MAGA rallies, you’ve probably noticed his repetitive boasts about the economy, and how he deserves all of the credit for the current state of the economy.
Luckily, the Bureau of Labor Statistics (BLS) exists, a completely unbiased source of pure statistics that has been in place for nearly 150 years, has worked under many Presidents of both parties, uses raw government data and consistent methodologies, and does not attempt to come to any conclusions about the statistics. As such, there really is not a better source to use to provide context for all of Donald Trump’s boasts.
So, let’s look at some of Trump’s boasts and provide some BLS context.
“We’re not even two years yet than any administration in the history of our country. We’ve done more. Nobody even close, we’ve done more. And… and it’s four pages of — of this. Look, I mean, it’s just — see, four — four pages, each line is another thing. Look, this is — this goes on and on and on. And if I read every one of them as big as they are, because they’re big things, as big as they are you would be bored. But just go over a few of them. More than four million jobs have been created since our election with 200,000… 200,000 jobs created just in the last month — in the last month, 200,000. Wages are growing at the fastest pace in many years. And you know it’s finally it’s about time because maybe not so much for the people in this room, but people were working two and three jobs and they were making less money than they were making 20 years ago.”
Let’s take a look at BLS statistics on job creation to see if indeed Donald Trump is correct when he says “We’ve done more. Nobody even close, we’ve done more.”
I’m having a tough time seeing much of a difference between the monthly job growth numbers under Trump (2017-2018) and Obama (2009-2016).
Maybe we could take a look at the wage numbers Trump claimed were “growing at the fastest pace in many years”.
Again, it is difficult to tell any change between the pace of wage growth under Obama and under Trump. Looks like a pretty steady trend. I’m having a hard time finding how Trump could conclude from the above chart that “wages are growing at the fastest pace in many years.”
Maybe we could take a look at another chart that shows the 1 month change in hourly earnings, see if that looks any different:
Again, doesn’t seem to be much of a change in pace.
Let’s see if Trump has any more boasts we can take a look at:
“Manufacturing jobs are growing at the fastest rate in more than 30 years.”
Fastest rate in more than 30 years? Looks to me like manufacturing jobs have been growing at a pretty similarly steady rate since 2010.
I’m starting to get the feeling that maybe Donald Trump isn’t being completely honest.