Seemingly everybody believed that Hillary Clinton would have overtaken Donald J. Trump in the 2016 United States presidential election. Rather than a lifelong politician being handed the reigns of one of the greatest superpowers on planet Earth – none other than the United States of America – political newcomer and current United States President Donald Trump won the Electoral College and has since unarguably been one of the most controversial leaders the United States’ federal political system has ever seen.
Mr. Trump is known for being both a widely-known personality in popular culture and a big-time businessman. The 45th President – Donald J. Trump – promised to lead the United States with a keen business sense, something the nation hadn’t seen in many decades.
While tons of controversial things have happened while Trump has been in office – namely the ongoing allegations of collusion between Trump’s presidential campaign and Russian individuals, businesses, and government agencies to lower Clinton’s chance of winning the election; the Stephanie “Stormy Daniels” Clifford fiasco also didn’t look too good for Mr. Trump – the economy has been bolstered, the stock market improved significantly, and rates of illegal immigrants attempting to cross over the southern border with Mexico have plummeted.
A number of positive outcomes have yielded from Trump’s stay in the Oval Office thus far – but what about the job market?
Unfortunately, most media news outlets tend to present their own biased opinions to view without always backing up their claims with concrete evidence. It’s time to take a peek at legitimate, undisputed statistics derived from in-depth research across the job market.
The unemployment rate dropped by a material margin
When Donald Trump was sworn in on January 20, 2017, the unemployment rate was 4.8 percent. Just over 11 months later, at the close of Trump’s first calendar year in office, the metric dropped seven points to 4.1 percent.
Low unemployment rates are positively correlated with economic strength, a strong stock market, and low inflation of the United States Dollar. In May 2018, the unemployment rate dropped even lower – all the way down to 3.9 percent. Trump is doing great things in terms of putting people to work.
Wages went down, but not by any statistically-significant mark
Wages in healthy economies regularly grow. Upon Trump’s inauguration, wages were growing month-to-month at a rate of 2.6 percent. By the end of the year, that mark dropped to 2.5 percent. In actuality, it’s reasonable to assert that wage growth did not fall during his first year in office; rather, they stagnated.
About The Author
Yuri Vanetik is an Entrepreneur, Private Investor, Coalition Builder, and Philanthropist in Orange County, California. He is the Managing Partner of Vanetik International, LLC, a management consulting firm which offers advisory services and strategic planning to businesses and industries. He is also the Managing Partner of Dominion Asset Management, a technology-driven opportunity real estate fund that invests in undervalued real estate throughout the United States. Yuri Vanetik brings over 20 years of professional experience in a variety of roles, and has been featured in notable publications, including the Wall Street Journal, California Business Journal, Bloomberg Law, and Forbes.