Although summer may be coming to an end, America’s economy is still HOT.
August brought another month of historic job growth, proving President Trump’s commitment to bringing jobs back to America.
For the fourth consecutive month of over 1 million jobs added, the American economy gained 1.4 million jobs in August.
This growth included 249,000 retail jobs, 174,000 leisure and hospitality jobs, and 45,000 manufacturing and construction jobs.
Since April, a record 10.6 million jobs have been gained, bringing back about 50% of the jobs lost from the lockdowns. In fact, the amount of jobs added to the U.S. economy over the past 4 months, has surpassed expectations by a combined 12.2 million jobs.
In addition to the record job growth, August also experienced falling unemployment.
While expectations predicted only a 0.4 percentage point decrease, the unemployment rate actually dropped by 1.8 percentage points, making this drop the second-largest decrease recorded in American history.
The unemployment rate fell by 1.6 percentage points for African Americans, 2.4 percentage points for Hispanic Americans, and 1.3 percentage points for Asian Americans.
Additionally, adult female unemployment fell by 2.1 percentage points, the second-largest drop in American history, and adults without a high school diploma saw a 2.8 percentage point decrease in unemployment.
Now compare this historical growth to President Trump’s predecessors.
Unlike the Obama-Biden administration, which presided over the slowest economic recovery since the Great Depression, President Trump’s pro-growth, America First policies are unleashing a great American comeback.
Before China ruined our economy with COVID-19, President Trump built the greatest economy this world has ever seen. He did it once. And he can do it again.