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The Trump Economy Continues To Silence Democrats The July Jobs Report Underlined The “Solid” Labor Market: Wages Continued To Climb And More Than 350,000 Workers Came Off The Sidelines _______________________________ The Facts: THE TRUMP ECONOMY CONTINUED TO SILENCE CRITICS AS JOB GAINS CONTINUED AT A “HEALTHY” PACE IN JULY The U.S. added 164,000 jobs in July, “underlining a solid labor market” that has added more than 6.3 million jobs since President Trump was elected. USA Today: “U.S. job growth was solid for a second straight month in July.” Economist Douglas Holtz-Eakin: “Democrats are not talking about the economy, because they have nothing to say.” PRESIDENT TRUMP’S ECONOMY CONTINUES TO PULL DISENFRANCHISED AMERICANS OFF THE SIDELINES AND INTO THE LABOR MARKET Labor force participation increased to 63%, as 370,000 people, previously too discouraged to seek employment, reentered the labor market. The New York Times: “The tight labor market is continuing to pull in workers from the sidelines.” WAGES GREW AT MORE THAN 3.2% YEAR OVER YEAR IN JULY AND GROWTH HAS NOW TOPPED 3% FOR A FULL YEAR Wages grew at 3.2% year over year in July, “well above the rate of inflation.” There remains more job openings than unemployed Americans in July, forcing employers to find ways to attract workers including raising pay and benefits. News on wage growth may be even better than initially thought as the Bureau of Economic Analysis reported that wages and salaries grew by 3.4% in the first six months of 2019 alone, far above the labor department numbers. |
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