President Trump’s promise to “make America great again” has been guiding his leadership since he took office nearly a year ago. While mainstream media and Leftists have been maintaining the anti-Trump narrative, criticizing every decision he makes, the economic statistics speak for themselves.
According to Rasmussen Reports, the October jobs report revealed that the economy managed to rebound despite suffering a hit from major hurricanes and subsequent recovery efforts. The unemployment rate dropped to 4.1 percent — the lowest level seen in 17 years.
A recent national survey conducted online and via telephone revealed that 39 percent of adults believe the job market has improved from last year. When polled in May, only 35 percent believed so. This is now the highest confidence in the job market surveyed since 2010.
Conference Board economist, Lynn Franco, said the October reports, “suggest the economy will continue expanding at a solid pace for the remainder of the year.”
Businesses are waiting to see whether or not President Trump and Capitol Hill will come through on tax reform and pro-growth policies. They have, however, expressed confidence in US capital markets.
The Conference Board reported that consumer confidence increased to 125.9 in October, the highest level since December 2000, when it was 128.6. The number is based on Americans’ perceptions of economic conditions and their projections for the upcoming six months. The number was 120.6 in September, leading to October projections of 121.3. However, the October performance far exceeded projections and the prior month’s performance.
Confidence has surged thanks to continued record high closings in the stock market, strong overall economic growth, and impending tax reform measures that are projected to increase investment in the US. Franco noted that this growth in confidence was also “boosted by the job market which had not received such favorable ratings since the summer of 2001.”
The Dow Jones Industrial Average set a new all-time record closing high last week, at 23,563.36. The Dow has gained a significant 29 percent since President Trump won the election a year ago, while S&P gained 22 percent and the NASDAQ Composite gained 31 percent.
Investors noted that they are carefully watching for tax reform. Former Senior Economic Adviser for the Trump campaign, Stephen Moore, stated that the Republican tax reform plan would reduce the corporate tax rate, and yield “trillions of dollars of after-tax stock returns over the next decade and at least some investors are buying ahead of that.”
Maris Ogg, president of Tower Bridge Advisors, remarked: “I don’t really see how this bull market gets derailed.” She further predicted that next year should have similar results to this year’s economic performance.
The unemployment rate is the lowest it’s been in 17 years despite the barrage of hurricanes the US has seen. Is this due to President Trump’s leadership?
As previously reported, the improvements of personal finances, increases in disposable personal income, record highs in consumer confidence, and record highs in investment and manufacturing optimism, have all contributed to a stronger economic health for the nation.
If Republicans can pass the tax reform bill, and eventually succeed in repealing Obamacare, the nation will likely see even greater positive impacts. With more available jobs, more money in Americans’ pockets, and more investor confidence, the country is certainly on the right track to being “great” again — just as President Trump promised.