“We have over 700,000 job openings that we think will be available in Washington state in the near term, and most of those will go to people out of the state and even out of the country. So we need to reconfigure,” Seattle Mayor Jenny Durkan (D) said in an interview earlier this year. “If you look at where the economy is moving, that’s going to become even more exacerbated. When automation comes on full bore, just autonomous vehicles will have about 20 million Americans out of work, overnight. And there’s no plan on where you then move them in the workforce.”
Trump also touts “bringing back coal” as a cure-all to the economic despair experienced by communities in the rust belt, which Trump carried, albeit narrowly, in 2016. But the data show coal is not coming back and has in fact been steadily declining over the last three decades.
can you point to it on this one ? pic.twitter.com/zRHEPdh1I3
— zedster (@z3dster) July 6, 2018
Stagnant wage growth may also be stifling greater economic investment. Wages grew an average of 4.1 percent per week in 2017, however many states, particularly states that voted for Trump in 2016, showed lower than average increases in workers’ paychecks.
This and slower future job gains may be exacerbated by Trump’s trade wars with China, Canada, and the European Union, whose retaliatory tariffs on American products cut deep into Trump country.
Perhaps the biggest discrepancy between Trump’s promises/claims/whathaveyou is the rate at which the economy is growing as a whole. As a candidate, and after he was elected, Trump promised four to six percent annual growth.
FRED is Federal Reserve Economic Data, and the data is sourced from the US Bureau of Labor Statistics.
— MeWithFewExceptions (@Jahana) July 6, 2018
The economy grew by 2.3 percent in 2017, and although that’s better than the 1.5 percent we saw in 2016, it’s a far cry from numbers Trump has promised.
“The 2.3 percent growth for Trump’s first year is actually lower than the three best years under Obama:” FactCheck noted; “2.9 percent real growth in 2015, 2.6 percent in 2014 and 2.5 percent in 2010.”