Chicago Tribune: Who wins Trump-Obama debate on jobs? Everyone who wants to work
What keeps Americans up at night? Hmm, there are many contenders, but here’s what’s not a worry right now: the economy, and most people’s ability to get a job, keep a job or anticipate a raise. Look around, notice all the Now Hiring signs?
Some evidence most of us didn’t expect but ought to celebrate: The U.S. economy is growing at a 4.2 percent clip, far outpacing the 2 percent range of the post-recession era of Barack Obama’s presidency. The unemployment rate is an astonishingly low 3.9 percent.
That rate is at a near-record low for African-Americans (6.3 percent) and Hispanics (4.7 percent). Jobless claims, a proxy for layoffs, have tumbled to a 49-year low. Wages are rising, too. Median household income grew 1.8 percent in 2017 to an all-time high of $61,372.
Democrats and Republicans are squabbling about who deserves credit for the good times.
Is it President Donald Trump or his predecessor? Both Obama and Trump claim they are responsible, which is how you know the country is doing well.
Under Obama, the U.S. recovered from the 2007-09 Great Recession and continued to grow, but expansion has hit a higher gear under Trump.
The combination of tax cuts and deregulation is driving business investment and hiring. When employers feel positive about the future, they bet money on it.
That’s what’s keeping the economy speeding along.
— Chicago Tribune