Since the Trump Administration began, 15 months ago, the economy is growing, companies are expanding, some moving back from abroad. On the labor side, unemployment has been dropping for the last fifteen months. Now at 3.8 percent. It’s all good. And, all the result of unleashing the economic engine that had been ignored for too long.
Remember what the unemployment rate was after Obama’s “stimulus” spending? There were two of them. It’s only relevant to mention Obama to understand the impact that government regulations, including taxes, have on the economy. Obama did it the classic, well post Kennedy, Democratic way of using the tax code and other regulations (including minimum wages) to “manage” the private sector. You lived the results.
Trump did it the free market capitalistic way. Minimizing taxes and regulations. And literally turning the economy loose.
What happened is that, as of the end of April, there are 6.7 million job openings according to the Bureau of Labor Statistics. And over the 12 months ending in April, hires totaled 66.1 million and
separations totaled 63.7 million, yielding a net employment gain of 2.4 million. And, as of April, the total workers looking and eligible for jobs fell to 6.35 million, a decrease from 6.58 million the previous month. There are 350,000 more jobs than people looking for them.
A free market economy is self-regulating when given the chance. And when given a chance, it will decide the right wage for a given job. Not the government.
With more jobs than people looking to fill them, you will see “Help Wanted” signs on store fronts. You’ll see “Now Hiring” on the back of tractor trailers on the Interstates. And you will also see employers competing for employees by paying higher wages. Economic supply and demand at work. Not a raving Marxist calling for a mandatory living wage.