The U.S. Economy In 2018

Fact is, there is much noise and chatter surrounding the current Trump presidency. A lot of it, arguably, is self-inflicted: Russia, Jim Acosta, the controversial Tweets, even Rain Gate and Rake Gate. Lost in all of this, though, is the job President Trump has done in steering the U.S. economy, which is booming at the moment.

With that in mind, here is a look at how the U.S. economy has so far fared in 2018, under the stewardship of President Trump. This review will delve into some important sectors, all of which impact the economy to varying degrees. But before tackling these sectors, it is worth emphasizing yet again how the president has led this remarkable economic resurgence. In the words of finance expert Jeff Cox, President Trump “has set economic growth on fire,” and this boom is “uniquely his” and his alone.

Jobs

One of the hallmarks of the Trump Administration has been job creation, and that has continued this year. Data from Trading Economics show that from February of this year up to October, the employment rate in the U.S. has held steady at over 60.3% — a full percentage point higher than the 68-year average of 59.33%. Nonfarm payrolls have also increased this year, even breaching 250,000 in October. But just as important, wages have increased as well. In fact, wages this year are at their highest levels since April 2009. This means that more Americans now have jobs, and are actually earning more.

Notably, President Trump’s economic policies reversed an Obama-era trend where the overall employment rate grew much faster vis-à-vis employment in the manufacturing industry. In other words, more and more manufacturing-related jobs are being created under this administration as compared to its predecessor. A Forbes comparison of the last 21 months of the Obama presidency and the first 21 months of the Trump administration shows that the latter has been able to create far more jobs — up to 10 times more, in fact — in the manufacturing industry as opposed to the former. Much of this renaissance, obviously, can be traced to President Trump, who has restored business confidence pretty much across the board.

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