.MaddowBlog: Despite Pres. Trump’s boasts, job growth falls short of expectations.
Yesterday morning, Donald Trump published a curious tweet, declaring, “Really Good Jobs Numbers!” The actual job numbers hadn’t been released, and he hadn’t yet received an advanced look, but the president was apparently referring to an ADP report on private-sector hiring, which often differs from the actual, official data.
The Bureau of Labor Statistics reported this morning that the economy added 130,000 jobs last month, while the unemployment rate remained unchanged at 3.7%. And while that’s not an awful monthly total, the revisions from the previous two months were also a little disappointing: job totals from June and July were both revised down, subtracting 20,000 from previous reporting.
I recently heard from some readers who asked what would happen if we looked at the same numbers, but assigned the job totals from January 2017 to Trump, even though Obama was president for most of the month. On balance, I think that paints a misleading picture, but it doesn’t change the underlying dynamic: if we applied jobs from January 2017 to Trump and compared the last 32 months to the previous 32 months, job totals still slowed from 7.13 million to 6.10 million.
Trump continues to tell the world that he’s overseeing the strongest domestic job growth in American history, which is plainly false. What’s more, the White House has not yet offered an explanation for why job growth has slowed since Trump took office.
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