A Year of MAGAnomics Outlined…

WHITE HOUSE – AMERICA’S ECONOMY IS FIRING ON ALL CYLINDERS: President Donald J. Trump has unleashed America’s economic growth engine and ushered in a new era of economic optimism.

  • Under President Trump, nearly 1.7 million new jobs have been created.
    • 159,000 jobs have been created in the manufacturing industry.
    • 57,000 jobs have been created in the mining and logging industries.
  • The unemployment rate has fallen to 4.1 percent, the lowest in nearly 17 years.
    • Thirteen States have reached record low unemployment rates.
  • Gross Domestic Product (GDP) in the United States has grown by more than 3 percent in the last two quarters.
    • The GDP growth rate was 3.3 percent in the third quarter of this year.
    • The GDP growth rate was 3.1 percent in the second quarter of this year.
  • Productivity in the United States economy grew to 3 percent last quarter.

  • Americans’ confidence in the economy has soared to record highs under President Trump.
    • The Conference Board Consumer Confidence Index reached a 17-year high in November.
    • The National Association of Manufacturers’ Outlook Index had the highest annual average it has ever recorded.
  • The Dow Jones Industrial Average has hit record highs 70 times in 2017—the most ever recorded in one year.
    • For the first time in its history, the Dow closed higher than 24,000 points.
    • Since President Trump was elected, more than $5 trillion in wealth has been added to the United States economy.

HARD AT WORK: The Department of Labor has implemented pro-growth programs, rolled back overreaching regulations, and taken action to support American workers.

  • The Department of Labor has convened a Task Force on Expanding Apprenticeships, which will work to create more opportunities for American job seekers and job creators.
    • The 20-person task force brings together leaders from business, labor unions, educational institutions, and trade groups to advise the Administration on how to expand the number and breadth of apprenticeships.
  • Following President Trump’s Executive Orders on regulatory reform, the Department of Labor is working to identify regulations that place an undue burden on employers with minimal impact on worker protections.
  • The Department of Labor is actively involved in the process of renegotiating and improving the North Atlantic Free Trade Agreement.
  • Secretary of Labor Alexander Acosta has directed the Department to aggressively confront visa fraud and abuse.

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