More Jobs, Lower Prices, More Money In Your Pocket

The Economy Added 162,000 Jobs In August As President Trump Continues To Help Make Life More Affordable For Americans

JOBS ADDED TRIPLED EXPECTATIONS

• The economy added 162,000 jobs in July, more than triple what economists had forecasted.
• President Trump is committed to rebuilding the economy that Joe Biden and Democrats destroyed.
  • In August, the economy added 16,000 manufacturing jobs and 22,000 construction jobs.
• The economy has added over 1 million private sector jobs since President Trump took office.
  • Federal government employment is down by 336,000.
• Since President Trump took office, 1,314,000 native-born Americans have gained employment.
  • 1,681,000 native-born Americans have also joined the labor force.

WAGES AND PAYCHECKS ARE INCREASING UNDER PRESIDENT TRUMP

• Average hourly earnings are up 3.1% from one year ago.
• Thanks to the Working Families Tax Cuts, the average tax refund was up almost 11% from one year ago.
  • Analysis shows that 97% of Americans received a tax cut this year.
  • Due to the provisions of No Tax on Tips, Overtime, and Social Security, the average tax refund was over $3,400 this year.
  • Americans earning $15,000-$80,000 per year are receiving an average tax cut of 15%.
  • Average tax refunds were up 24% compared to the four-year average of refunds under Joe Biden.
• In just one year under President Trump, have made up all the wages they lost under Biden.
• Real earnings for private-sector workers outpaced inflation by nearly $1,400 during President Trump’s first year in office.

PRESIDENT TRUMP IS LOWERING PRICES

• President Trump is bringing down prices after record-high inflation under Joe Biden.
• Core inflation has lowered since President Trump took office.

• Many common household staples have all seen prices fall since President Trump took office including flour, white bread, bacon, chicken, American cheese, ice cream, strawberries, potatoes, and eggs.
• Private companies are responding to President Trump’s call to deliver price reductions on everyday goods and services for Americans:
  • Walmart has lowered prices on thousands of everyday items.
  • Costco dropped prices on many of its most popular Kirkland products.
  • Kroger slashed prices on thousands of items.
  • Giant Eagle dropped prices by an average of 10% of more than 300 products.

DRUG COSTS ARE FALLING AT HISTORIC RATES

• Thanks to President Trump, prescription drug prices have fallen 3.0% over the last year while over-the-counter medications have dropped 1.7%.
  • The drug price drop in July is the largest annual decline in over 60 years.
• Last year, President Trump signed an executive order establishing Most-Favored-Nation drug pricing, which forces drug companies to lower prices so Americans can pay a fair price for their prescriptions.
• President Trump demanded leading pharmaceutical manufacturers to outline how they must bring down the cost of prescription drugs to match the lowest price of other nations.
• Americans will now pay the lowest cost for prescription drugs that other nations have been paying.
• Since then, the president has been able to secure deals with 26 major pharmaceutical companies including covering 89% of the brand-name drug market.
• TrumpRx is a direct-to-consumer government website allows Americans to purchase dozens of popular prescription drugs at a discounted price negotiated by the government.  
  • Americans can print coupons or download them to their phones which can be used at pharmacies for reduced drug costs.
  • TrumpRx has already helped Americans save $700 million.
• Medication costs for arthritis, obesity, infertility, and other chronic conditions will all be lowered.
  • These deals with major pharmaceutical companies could save the economy $529 billion over the next ten years.

BUYING AND RENTING A HOME IS BECOMING MORE AFFORDABLE

• The average 30-year mortgage rate is lower since President Trump took office.
• Average rent prices are also down compared to one year ago and have fallen year-over-year for three straight years.
• Median home prices fell 2.3% in July and is lower than one year ago.

TRILLIONS OF NEW INVESTMENTS IN AMERICA ARE CREATING NEW JOBS

• President Trump has secured trillions of dollars’ worth of investments, creating good paying jobs within the United States.
• In August alone:
  • SpaceX announced a $100 billion investment to build the world’s largest launch facility in Louisiana, creating 3,000 jobs.
  • Amazon announced plans to invest an additional $6 billion for a third data center in Louisiana, bringing the total investment in the state to $18 billion.
  • Bristol Meyers Squibb announced a $2.3 billion investment to build a pharmaceutical manufacturing campus in Houston, creating 500 jobs.
• Orders for business equipment recently increased to levels not seen since 2020.
  • Shipments of machinery and equipment doubled expectations, signaling the expansion of multiple industries.
• For the eighth month in a row, the manufacturing sector grew.
  • 60% of manufacturers say they’re actively hiring.

DEREGULATION IS SAVING MONEY FOR THE AMERICAN TAXPAYER

• President Trump is slashing red tape to help Americans save money.
• The President’s regulatory efforts are expected to save over $5 trillion for American families and businesses.
• This past December, President Trump ended the Biden-era emissions standards which led to higher costs for vehicles.
  • This move will save American families $109 billion over the next five years.
• President Trump also eliminated the Obama-era “Endangerment Finding” which allowed unelected bureaucrats to impose trillions of dollars of hidden costs on American families.
  • This deregulation action will save American taxpayers over $1.3 trillion.

REPUBLICAN STATES ARE LEADING THE CHARGE

• 17 of the top 21 states with the lowest unemployment rates are led by Republican governors.
  • Meanwhile 10 of the 11 states with the highest unemployment rates are led by Democrat governors.