Washington, D.C. – President Donald Trump’s economic policies were responsible for last month’s improved employment numbers, said members of the...
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Hello John,
** Employment Recovery Called
“A Testament To Trumponomics”
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[link removed] Donald Trump’s economic policies were responsible for last month’s improved employment numbers ([link removed]) , said members of the Project 21 ([link removed]) black leadership network, who credited the president with reviving an economy devastated by COVID-19 lockdowns and with helping the black community get back on its feet.
“Even in a pandemic, the free-market policies of the Trump Administration are growing the economy and benefiting America – especially black America,” said Project 21 Co-Chairman Horace Cooper ([link removed]) .
[link removed] October jobs report provided further great news about America’s super-V recovery from the China-virus lockdown,” said Project 21 member Deroy Murdock ([link removed]) . “After rocketing to 14.7 percent in April, unemployment has tumbled back down to 6.9 percent. While this is higher than anyone would like, jobs are returning to the economy at a much faster pace than anyone imagined. Last month, 638,000 more Americans found work.”
The American workforce added 638,000 new jobs in October – causing the overall unemployment rate to drop a full percentage point ([link removed]) to 6.9%, according to a report from the U.S. Bureau of Labor Statistics. The total number of people entering the workforce in October was approximately 1.5 million, with total workforce participation increasing to 61.7%. Additionally, the U-4 alternative unemployment measure ([link removed]) that includes discouraged workers who left the workforce – often considered the true unemployment indicator – also fell a full percentage point to a comparable 7.2%. This figure has dropped 4.2% since June.
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“All of this is a testament to Trumponomics,” added Murdock. “President Donald J. Trump’s tax cuts, regulatory relief, and pro-market atmosphere created the most booming American economy ever. COVID-19 put it in bed for a while. But now it is regaining its strength at an incredibly impressive pace.”
In the black community, total unemployment fell to 10.8% ([link removed]) . Approximately 433,000 blacks entered the workforce ([link removed]) in October – the second-largest influx ever recorded. Blacks and Hispanics both outpaced whites in entry into the workforce ([link removed]) .
[link removed] unemployment has decreased six percentage points since May – 16.8% to 10.8% – and black male unemployment has dropped almost four percentage points since June,” noted Project 21 member Derryck Green ([link removed]) . “In 2016, fearmongerers were certain that Donald Trump’s economic policies would kill the economy. But cutting regulations – which function as taxes – and reducing tax rates across the board have done the exact opposite.
“Much of the economic uncertainty and instability aren’t the result of COVID-19,” noted Green. “They’re actually due to the response to COVID-19. Despite the refusal of several liberal mayors and governors to reopen their respective economies, the economic policies of the Trump Administration continue to see significant gains. Third-quarter GDP expanded at its fastest rate ever ([link removed]) – 33.1%.”
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