https://www.investors.com/politics/editorials/dont-wait-for-the-trump-boom-its-already-here/
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We see it now in literally dozens of economic indicators, both large and small:
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We see it now in literally dozens of economic indicators, both large and small:
- The Dow Jones industrial average has hit record after record and justburst through 25,000 for the first time. Based on the total return on the Wilshire 5000 Total Stock Index, the stock market has created $7.1 trillion in new wealth since Trump was elected.
- An analysis by IBD's Jed Grahamshows that, based on recent tax revenue data, hourly wages are growing faster than the tepid 2.5% pace now expected.
- Total job openings of 6 million remains near the record high set last year. Some 2.1 million jobs were created in 2017.
- The 4.1% civilian unemployment rateis the lowest since 2000.
- The employment-to-population ratio, the broadest measure of labor demand, now stands at 60.1%, the highest level since President Obama's first month in office.
- African-American unemployment for those 16 years and over fell to 7.5%, its lowest level since December 2000; meanwhile, Hispanic unemployment dropped to 4.7%, an all-time low, in 2017.
- New claims for unemployment insurance stood at a four-week average of 241,750 in December, close to the 44-year-low set earlier in 2017 and well below 2016's average of 253,750.
- ADP's monthly job report says 250,000 new jobs were created in December, based on payroll data the firm collects.
- The total number of food stamp recipients fell by 2 million last year.
- Federal spending, as a share of GDP, fell from 21.1% in 2016 to an estimated 20.5% currently.
- U.S. manufacturing grew in December at the fastest rate in three months, capping "the strongest year for factories since 2004," according to the Institute for Supply Management.
- Some 90 companies have already granted or promised bonuses based on Trump's policies, in particular the December tax cuts, the nonpartisan Americans For Tax Reform reported. "Thanks to tax cuts, growing list of companies announcing bonuses, wage hikes, and charitable donations," the group said.
- Rising stock, home and other asset prices have helped push U.S. household wealth to a record $96.2 trillion, up from just under $55 trillion in 2009.
- The total number of pages in the Federal Registry, the government's regulatory bible, totaled 61,950 pages, the lowest in a quarter century and a sign that Trump's deregulation of the U.S. economy is having a major impact.
