Healthy Economy, Though Not as Good as Trump Boasts. Status: In Progress.
President Donald Trump inherited a healthy economy, which has persisted since his election and subsequent inauguration in January. The unemployment rate has ticked down to 4.1 percent and wages are inching up. The stock market has reached record highs. GDP growth is strong, though it’s not the never-before-seen success Trump says it is, nor is it the 5 percent GDP growth he suggested was possible.
The nation’s job growth is not yet living up to the huge promises Trump made for it, either. As a candidate, he vowed 25 million new jobs over a decade — roughly 208,000 jobs a month — but just four of the nine full months he's been in office saw such job gains. He’s promised tax cuts to spur growth and create more jobs — though some experts question whether his tax proposals would do this at all — but that legislation has yet to make it through Congress.
There has been some bright news on manufacturing jobs: In September, the industry added jobs at the highest pace in four years, good news in an otherwise lukewarm jobs report.
Still, the president repeatedly overstates the country’s job gains, too. He told voters the nation had created a million jobs under him months before it actually happened, took credit for investments made under the Obama administration, and at one point boasted of 45,000 new mining jobs when there’s evidence of just 800.