Trump Economic numbers since 2016
Much ado about what a wizard #45 is when the economy is discussed. Be mindful that Obama left an economy that was steadily improving and the unemployment rate was the lowest in 50 years. Also recall the mess Obama inherited in 2009 with the banks in virtual collapse.
My theory as to why he won't publish his taxes is he is not a wealthy as people seem to think. More of a $M and definitely not a $B as we are led to believe. Not publishing the taxes allows him to keep up the false narrative.
From Factcheck.org
Posted on January 20, 2017
https://www.factcheck.org/2017/01/what-president-trump-inherits/
Jobs & Unemployment
Jobs — The economy has added nearly 2.2 million jobs in the most recent 12 months.
It has gained jobs for 75 straight months – the longest streak on record.
President Barack Obama was not so fortunate. When he took office,
the economy had already lost 4.4 million jobs in the preceding 12 months.
During Obama’s first 13 months, the economy continued to shed another 4.3 million jobs. But as Trump enters office, employers are eager to hire millions more. The number of job openings continues to hold at near record levels.
The most recent figures show that as of the last business day in November, there were more than 5.5 million unfilled job openings — double the number in the month Obama took office in 2009.
The highest ever recorded in the nearly 16 years the Bureau of Labor Statistics has tracked this figure was in April 2016, when job openings topped 5.8 million. The figure has now been above 5 million every month for 22 months in a row.
Unemployment —
Obama also leaves Trump an unemployment rate that is well below the historical norm.
Currently it stands at 4.7 percent. In all the months since 1948 the median jobless rate was 5.6 percent.
Thus Trump has been dealt a far better hand than Obama, who took office when the jobless rate was 7.8 percent and rising. It hit a peak of 10 percent in October of Obama’s first year.
Growth Profit & Markets
Economic Growth — Trump inherits an economy that is growing steadily — but more slowly than the 4 percent annual rate he proposed as a “national goal” during his campaign.
The economy posted six straight years of annual increases in real (inflation-adjusted) gross domestic product under Obama, and almost certainly will post a seventh for his final year; it already posted gains for the first three quarters of 2016. But year-to-year growth hasn’t reached 4 percent since the end of the dot-com bubble in 2000, which peaked with a 4.7 percent GDP gain in 1999.
The best year since then was 2004, when the economy gained 3.8 percent. Under Obama, the best year so far was 2015, when growth was 2.6 percent.
We won’t know for several months exactly how fast the economy grew in 2016, but the gain is likely to be well short of 4 percent. The most recent official measure put growth at a yearly rate of 3.5 percent in the third quarter of 2016. But that followed two much weaker quarters — a scant 0.8 percent annual rate gain in the first quarter, and a 1.4 percent rate gain in the second quarter.
And the last three months of 2016 aren’t expected to be as strong as the third quarter. The Federal Reserve Bank of Atlanta’s “GDP Now” model projected, as of Jan. 19, that the official fourth quarter estimate will be 2.8 percent when the Bureau of Economic Analysis issues it on Jan. 27.
