Trump Free-Market Policies Are Credited For “Stunning” Economic Recovery...
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Hello John,
** Trump Free-Market Policies Are Credited For “Stunning” Economic Recovery
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The latest federal employment report ([link removed]) revealed yet another month of recovery for the American workforce. Members of the Project 21 ([link removed]) black leadership network credited the Trump Administration for policies that have brought back jobs – particularly in black communities – after businesses were devastated earlier this year by COVID-19 lockdowns.
[link removed] news just keeps getting better. The free-market policies of President Trump have lowered the unemployment rate at the fastest level in history! The jobless rate dropping from nearly 15% to under 7% in less than a year is stunning,” said Project 21 Co-Chairman Horace Cooper ([link removed]) . “Incredibly, the unemployment rate is now lower than it was during Obama’s entire first term ([link removed]) . Notably, black Americans lead the employment gains – the exact opposite of the experience of the Obama years.”
The American workforce added 245,000 new jobs ([link removed]) in November – making it the 7th straight month of declining unemployment since the beginning of the COVID-19 pandemic lockdowns. The overall unemployment rate dropped two-tenths of a percentage point ([link removed]) to 6.7%, according to a report from the U.S. Bureau of Labor Statistics. Prior to the lockdowns, unemployment rates posted record lows.
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[link removed] continues to decline fastest for those who need jobs the most right now – black Americans, Hispanics and other minorities. These positive jobs numbers represent another example of the Trump Administration’s commitment to the black community,” said Project 21 member Donna Jackson ([link removed]) . “Even in the face of ill-advised lockdowns, I’m grateful that the White House continues to deliver for all Americans – especially black Americans like me.”
In the black community, total unemployment fell once again by half a percentage point ([link removed]) to 10.3%. Approximately 136,000 blacks entered the workforce in November, and black participation in the workforce increased for the third straight month. More than half of black Americans who were forced out of work by the lockdowns are employed again – far outpacing the progress of the Obama Administration after the 2008 recession. Additionally, the U-4 alternative unemployment measure ([link removed]) that includes discouraged workers who leave the workforce – often considered the true unemployment indicator – also fell to just 7.1%. That figure has dropped 4.3% since June.
[link removed] cause of the earlier collapse – and what’s preventing the economy from returning to pre-pandemic levels – has been the destructive and punitive response to COVID-19. Job gains in November showed the economy remains resilient despite the addiction of liberal state governments to socioeconomic lockdowns,” noted Project 21 member Derryck Green ([link removed]) . “In my opinion, the employment rate would be much lower, and the labor force participation rate much higher, if business owners were allowed to decide which safety protocols were in the best interests of their employees and customers. The gains we see today will almost certainly be undone – and jobs won’t return – if more states follow California in forcing business owners to shut their doors and ‘temporarily’ lay people off again.”
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