Continued good economic news
The good economic news just rolls on and on. As you may have read, according to the U. S. Department of Labor, 263,000 new jobs were created in April. The unemployment rate fell to 3.6 percent. That is the lowest since December of 1969. Iowa is at 2.4 percent. The economy grew at a rate of 3.1 percent in the first quarter of 2019.
I ran into an interesting analysis by the Bureau of Labor Statistics dated December 2013, showing the economic outlook by the Obama administration at that time:
“Looking forward to 2022, the U.S. Bureau of Labor Statistics (BLS, the Bureau) expects slower GDP growth to become the “new normal.” In addition to the recession’s impact on potential growth, the economy faces a number of hurdles. . . .
“From 2012–2022, BLS expects GDP to grow at a rate of 2.6 percent per year, reaching $17.6 trillion in the target year of the projections. The unemployment rate is projected to gradually decrease to 5.4 percent, accompanied by a gain in household employment of 12.3 million jobs.”
As you can see by comparing the projections with the real figures I set out in the first paragraph, the real Trump numbers are much better than the pessimistic predictions from the Obama era. Also, the number of new jobs has already reached more than 14 million since 2012. We are so fortunate to have moved away from the policies of stagnation of that era.
As always please feel free to contact me with your ideas or concerns.