![]() The unemployment rate would continue to drop under Trump - until the pandemic. Two months into Trump’s term, then-White House Press Secretary Sean Spicer joked about his boss’s change of heart: “I talked to the president prior to this, and he said to quote him very clearly - ‘They may have been phony in the past, but it’s very real now.’” Unemployment - As a candidate, Trump frequently criticized the monthly unemployment rates as “ phony numbers.” But as president, Trump immediately began to take credit for driving down the unemployment rate, which at 4.7% was already close to full employment when he took office in January 2017. But he ended his presidency with an economy that had 2.9 million fewer jobs than when he started - becoming the first president in modern times to experience a net loss of jobs over his time in office, according to the Bureau of Labor Statistics, which has monthly employment figures dating to 1939. Most of those jobs (56%) would return before Trump left office. economy lost a staggering 22.4 million jobs. In two months, March and April 2020, the U.S. would go on to add 2 million jobs in 2019, but that was the lowest annual growth since 2010.Īnd then the novel coronavirus struck. In 2020, job growth collapsed entirely when COVID-19 went from being a localized problem in Wuhan, China, to a global pandemic.Įmployment - A record eight years and four months of monthly job gains - dating to October 2010 - ended February 2019, roughly a year before the pandemic. monthly job gains end in February 2019 as the economy slowed. Jobs and UnemploymentĪs a candidate, Trump proclaimed: “I am going to be the greatest jobs president that God ever created.”Īs president, Trump saw 100 months of continuous U.S. Other statistics run counter to claims or promises Trump made: For instance, illegal immigration, the trade deficit and the federal debt - measures he vowed to lower - went up instead, rising even before the 2020 global pandemic began.Īs we’ve often said, readers may find these statistics to be good, bad or neutral, and opinions differ on how much credit or blame a president should get for what happens while he is in office. Some data points appeared to weather the economic impact: After-tax corporate profits and crude oil production rose, and the stock market, after taking an initial hit, continued to set records. But by the day Trump left office, 401,000 people had died from the disease caused by the novel coronavirus, and the economic fallout was far from over. while Trump was still president in December 2020. Scientists quickly developed very effective vaccines, two of which were authorized for emergency use in the U.S. ![]() Some of these figures, notably the net job loss and gross domestic product, were affected by the COVID-19 pandemic, which struck in Trump’s final year in office, becoming a defining issue of his tenure. While it’s likely some numbers will be revised in the future, we now have measures for Trump’s complete time in office. ![]() It takes several months for some of the data to be finalized. But as we noted then, the books weren’t yet closed on the Trump presidency. In the fall of 2020, we published a preelection update to our quarterly “Trump’s Numbers” series, and on President Joe Biden’s inauguration, we examined several statistical indicators on what he inherited. Trump filled one-third of the Supreme Court, nearly 30% of the appellate court seats and a quarter of District Court seats.The murder rate last year rose to the highest level since 1997.Handgun production rose 12.5% last year compared with 2016, setting a new record.Carbon emissions from energy consumption dropped 11.5%. Coal production declined 26.5%, and coal-mining jobs dropped by 16.7%.Apprehensions at the Southwest border rose 14.7% last year compared with 2016. Home prices rose 27.5%, and the homeownership rate increased 2.1 percentage points to 65.8%.The federal debt held by the public went up, from $14.4 trillion to $21.6 trillion.The number of people lacking health insurance rose by 3 million.trade deficit in goods and services in 2020 was the highest since 2008 and increased 40.5% from 2016. The international trade deficit Trump promised to reduce went up.After-tax corporate profits went up, and the stock market set new records.Average weekly earnings for all workers were up 8.7% after inflation. The unemployment rate increased by 1.6 percentage points to 6.3%. As we did for his predecessor four years ago, we present a final look at the numbers. The statistics for the entirety of Donald Trump’s time in office are nearly all compiled.
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