On Saturday, The Western Journal reported the following:
The Trump economy is giving the greatest benefits to those who have been at the bottom, according to new data from the Council of Economic Advisers.
Data released by the CEA shows that over 11 quarters from the end of 2016 through the first half of 2019, the net wealth of the top 1 percent of American households rose 13 percent. However, that rise is dwarfed by the 47 percent increase seen by the bottom 50 percent of America’s households over that same period.
…The report said that on average, workers’ pay has been rising faster than that of managers, and wage gains for Americans without a bachelor’s degree are rising faster than those for Americans with a bachelor’s degree or higher.
And, in keeping with Trump’s campaign promise to lift up black Americans, “average wage growth for African Americans now outpaces wage growth for white Americans,” according to the White House report.
America’s labor force is growing because Americans who were not formerly even looking for jobs are now employed, the report said.
The article concludes:
The Labor Department’s December jobs numbers, meanwhile, showed that women now are the majority in the American workforce.
“Why is today a milestone? It’s a milestone because it’s really heralding the future and not just telling us where we are today,” Betsey Stevenson, a professor of public policy and economics at the University of Michigan, told The Washington Post.
Larry Kudlow, director of the National Economic Council, said the jobs report has political ramifications.
“This stuff will translate in the election, I’m surprised the Democrats are so pessimistic painting a picture of a deep recession,” Kudlow told The Post. “The key point here is 3.5 percent unemployment continues, and that is a very low number historically and shows you still have a healthy economy and healthy job market.”
There is another aspect of President Trump’s policies that is impacting the wages of working Americans. President Trump’s policy of ending illegal immigration also eliminates some downward pressure on the lower end of the wage scale. Illegal immigrants are willing to work for less than American workers and don’t demand the same benefits. If they are working ‘under the table’, their employee is not paying Social Security taxes on them. Ending the flow of illegal immigrants into America is a positive thing for everyone.