Difference between revisions of "Donald Trump achievements: Economic policy and labor (2019)"

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*Higgens, Sean (September 6, 2019). [https://www.washingtonexaminer.com/policy/economy/nlrb-rules-companies-can-bar-nonemployee-union-activists-from-property NLRB rules companies can bar nonemployee union activists from property]. ''Washington Examiner''. Retrieved September 10, 2019.
 
*Higgens, Sean (September 6, 2019). [https://www.washingtonexaminer.com/policy/economy/nlrb-rules-companies-can-bar-nonemployee-union-activists-from-property NLRB rules companies can bar nonemployee union activists from property]. ''Washington Examiner''. Retrieved September 10, 2019.
 
*Bokhari, Allum (September 12, 2019). [https://www.breitbart.com/tech/2019/09/12/nlrb-google-must-let-employees-speak-out-on-political-workplace-issues/ NLRB: Google Must Let Employees Speak Out on Political, Workplace Issues]. ''Breitbart News''. Retrieved September 12, 2019.
 
*Bokhari, Allum (September 12, 2019). [https://www.breitbart.com/tech/2019/09/12/nlrb-google-must-let-employees-speak-out-on-political-workplace-issues/ NLRB: Google Must Let Employees Speak Out on Political, Workplace Issues]. ''Breitbart News''. Retrieved September 12, 2019.
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*Higgins, Sean (September 20, 2019). [https://www.washingtonexaminer.com/policy/economy/nlrb-proposes-preventing-undergrads-and-graduate-students-from-unionizing NLRB proposes preventing undergrads and graduate students from unionizing]. ''Washington Examiner''. Retrieved September 20, 2019.
 
See also:
 
See also:
 
*Wheeler, Lydia (September 13, 2018). [https://thehill.com/regulation/court-battles/406589-nlrb-proposes-rule-to-establish-joint-employer-standard NLRB proposes rule to establish joint-employer standard]. ''The Hill''. Retrieved September 10, 2019.</ref>
 
*Wheeler, Lydia (September 13, 2018). [https://thehill.com/regulation/court-battles/406589-nlrb-proposes-rule-to-establish-joint-employer-standard NLRB proposes rule to establish joint-employer standard]. ''The Hill''. Retrieved September 10, 2019.</ref>

Revision as of 08:06, 20 September 2019

Official presidential photo of President Donald Trump
Main article: Donald Trump achievements: Economic policy and labor

This article is a non-exhaustive list of achievements by U.S. President Donald Trump, his administration, and Congress related to economic and labor policy in 2019.

By 2019, President Trump had created a strong bond between him and blue-collar workers, enough to make labor union leaders worried.[1] The National Labor Relations Board made several pro-worker and pro-employer rulings at the expense of labor unions.[2]

Executive actions, 2019

  • The Trump Administration continued promoting apprenticeships as in the previous two years.[3]
  • January 31, 2019—The National Mediation Board proposed a new rule that would make it easier for railroad and airline employees to decertify their labor unions.[4]
  • March 27, 2019—President Trump signed a memorandum directing his administration to develop a plan to reform the federal housing-finance system, including Fannie Mae and Freddie Mac.[5] On September 5, 2019, the administration released its plan.[6]
  • April 1, 2019—The Labor Department proposed a rule rolling back an Obama-era joint-employer regulation.[7]
  • April 3, 2019—President Trump signed a memorandum cracking down on online counterfeit goods trafficking on websites such as Amazon and eBay.[8]
  • April 17, 2019—The Treasury Department issued new guidelines for "opportunity zones" in low-income areas, making it easier and more attractive for investors to invest in them.[9]
  • April 23, 2019—The Federal Reserve proposed clarifying regulations and making it easier for investors to own large stakes in banks without needing Fed oversight.[10]
  • April 29, 2019—The Labor Department ruled that "gig economy" workers are independent contractors rather than workers, a decision helping the gig economy and which undid an Obama Administration decision.[11]
  • May 2, 2019—The Centers for Medicare and Medicaid Services finalized a rule that repealed a 2014 Obama Administration regulation that had allowed unions to collect dues directly from Medicaid payments to American workers despite a law prohibiting this practice in most cases.[12] The CMS had originally proposed the rule on July 11, 2018.[13]
  • July 9, 2019—The Trump Administration adopted a finalized rule to exempt small community banks from the Volcker Rule, freeing them from various regulations.[14] The administration moved forward with the revamped rules on August 20, 2019.[15]
  • July 31, 2019—The Labor Department released a finalized rule making it easier for small businesses to create 401(k) plans for their employees.[16]

Other achievements, 2019

President Trump speaking at Lima Army Tank Plant, March 2019

While the following achievements were not official United States government policy actions by the Trump Administration, they were closely related to the Trump Administration and its policies:

  • President Trump denounced socialism several times in 2019.[17] In his State of the Union Address on February 5, 2019, President Trump condemned socialism, stating that "America was founded on liberty and independence and not government coercion, domination and control" and that "we renew our resolve that America will never be a socialist country."[18] On February 18, 2019, in a speech primarily condemning Venezuela's Maduro regime, President Trump strongly denounced socialism.[19] Among other Trump Administration officials,[20] Larry Kudlow strongly condemned socialism at CPAC,[21] along with Vice President Mike Pence.[22] Council of Economic Advisers chairman Kevin Hassett also criticized socialism.[23] In a March 2019 interview, President Trump described socialism as "seductive" and "tough to govern on, because the country goes down the tubes."[24] On March 19, 2019, speaking with conservative Brazilian President Jair Bolsonaro, President Trump again criticized socialism,[25] and at another meeting with Bolsonaro on June 28, 2019, Trump again criticized socialism and joked that the Democratic Party would rename itself the "Socialist Party."[26] On July 15, 2019, President Trump again criticized the Democratic Party for its embracing of socialism.[27]
  • Because of the 2017 tax cut bill, the average tax refund increased 1.3% by February 2019 according to the IRS.[28] According to H&R Block, based on tax returns filed through March 31, 2019, Americans paid 25% less on average in taxes in 2018.[29] The National Taxpayers Union Foundation reported that the tax cuts saved American taxpayers 41 million hours of tax filing preparation.[30]
  • March 18, 2019—The 2019 Economic Report of the President, released by the Council of Economic Advisers, strongly criticized socialism and socialist policies.[31]
  • March 20, 2019—Speaking at a tank plant in Ohio, President Trump criticized labor unions and left-wing union bosses.[32]
  • September 2, 2019—President Trump criticized AFL-CIO Richard Trumka for opposing his conservative policies, noting how labor unions under left-wing leadership had seen a significant decline.[33]

Economic growth

Real Personal Income gains under President Trump beginning from the flat base of President Obama's last year in office.
Source: Federal Reserve Board

The U.S. economy, under President Trump's MAGAnomics, continued its strong growth in 2019.[34] Between November 2016 and the end of January 2019, over 5.3 million new jobs were created.[35] The Council of Economic Advisers reported in March 2019 that 71% of newly-employed people under the Trump Administration came from outside the labor force,[36] and the labor force continued expanding despite predictions that the opposite would happen.[37] By March 2019, the economy under President Trump averaged lower unemployment than any other president at that point in their respective presidencies.[38] In July 2019, the economic boom broke the record for the longest period of economic expansion in United States history.[39] Consumer confidence remained at record levels even with trade tensions.[40] U.S. companies outperformed companies in other countries in their market value.[41]

  • The stock market continued increasing.[42] In the first quarter of 2019, the stock market experienced its best quarter in nearly a decade, with the S&P 500 having its best first quarter of the year since 1998.[43] On April 23, 2019, the S&P 500 and Nasdaq closed at record highs.[44] On April 26, 2019, the S&P 500 and Nasdaq again closed at record high levels.[45] In the first week of June, U.S. stocks had their best week since November 2018,[46] and the S&P 500 reached additional record highs on June 20 and 21, 2019.[47] During the entire month of June 2019, the Dow Jones saw its best June in 81 years while the S&P 500 saw its best June in 64 years and best first half of the year in 22 years.[48] The S&P 500 hit another record high on July 1, 2019,[49] and it did so again on July 3, 2019, along with the Dow Jones and Nasdaq.[50] On July 10, 2019, the S&P 500 reached 3,000 points for the first time ever,[51] and the following day, the Dow Jones closed above 27,000 for the first time ever.[52]
  • The Commerce Department reported that in the first quarter of 2019, the U.S. saw an economic growth rate of 3.2%, exceeding expectations.[53] The economy grew 2.1% in the second quarter of 2019, less than the previous quarter but more than expected.[54]
  • Manufacturing levels increased in the U.S.[55] as it fell in China.[56] According to the Institute for Supply Management, manufacturing levels increased in January 2019,[57][58] and the Atlanta Fed reported that manufacturing wage growth in December 2018 and January 2019 reached the highest level since May 2008.[59] By early 2018, U.S. manufacturing employment had increased for eighteen consecutive months.[60] In January 2019, U.S. durable goods orders increased at the highest level in six months,[61] and over 300,000 durable goods manufacturing job openings existed in January 2019, a 17% increase from the previous year.[62] While durable goods orders fell in February 2019, the decline was less than expected.[63] In March 2019, the Philadelphia Fed manufacturing index increased more than expected.[64] According to the Institute for Supply Management, U.S. manufacturing activity increased in March 2019.[65] For April 2019, different studies showed differing results, with IHS Markit reporting an increase in factory activity,[66] and between January and March 2019, manufacturing wages grew the most since 2008.[67] In March 2019, U.S. factory orders increased at the highest level in seven months.[68] The New York Fed's Empire State Manufacturing Survey in May 2019 found an increase in manufacturing activity in New York State,[69] while the Philadelphia Fed's Manufacturing Business Outlook Survey in May 2019 also found an increase in manufacturing activity.[70] A significant number of manufacturing jobs were created in May[71] and June 2019,[72] and the U.S. was one of the only countries in the world to see manufacturing activity improve that month.[73] Factory production increased more than expected in June 2019,[74][75] and the Philadelphia Fed reported another increase in factory activity in July 2019,[76] Durable goods orders rose significantly in June 2019.[77] and they again increased in July 2019.[78] In July 2019, the number of manufacturing job openings reached a record high.[79] The Federal Reserve reported that manufacturing production in August 2019 increased strongly, more than expected.[80]
  • By 2019, not only did wages increase for American workers, but productivity also improved.[60] In the first quarter of 2019, worker productivity increased at the fastest rate since 2014, and the yearly productivity rate increased at the fastest pace since 2010.[81] Productivity also increased more than expected in the second quarter of 2019.[82] Wages continued increasing for American workers.[83] For example, in February 2019, wages increased 3.4% from a year earlier, the fastest growth since April 2009.[84][85] According to the Spectrum Group in March 2019, 10.2 households — more than the entire population of Sweden — had a net worth of between $1 million and $5 million.[86] A July Paychex survey found that wages rose that month, the fourth month in a row where that happened,[87] data confirmed by the Bureau of Economic Analysis.[88] The tight labor market also helped increase wages.[89] Among other positive economic statistics, states that had seen weak economic growth in the years after the Great Recession saw significant income growth in 2019.[90]
  • Inflation remained lower than expected in January 2019,[91] and it remained at low levels in February 2019.[92] Producer prices grew slower than expected in April 2019,[93] and the rate of consumer price increases also remained low.[94]
  • In the first week of 2019, jobless claims fell more than expected, illustrating the strong economy,[95] and later that month, jobless claims fell to a 49-year low.[96] According to ADP/Moody's Analytics, the private sector added significantly more jobs than expected.[97] The Labor Department also reported that 304,000 jobs were created in January 2019, significantly more than expected and the most in eleven months,[58][98] making it the 100th month of increased employment.[99] Jobless claims fell more than expected in mid-February 2019.[100] The services sector performed well in February 2018, among other positive economic data.[85][101] In mid-March 2019, weekly jobless claims fell more than expected,[102] and they again fell later that month.[103] In the last week of March, the number of jobless claims fell to the lowest level since 1969,[104] and they fell again to the lowest level the following week.[105] The Labor Department's jobs report for March 2019 was very strong, with significantly more jobs created than predicted and with the unemployment rate remaining steady at 3.8%.[106] In mid-April 2019, jobless claims fell again, this time to a nearly 50-year low.[107] ADP and Moody’s Analytics reported that 275,000 new private sector jobs were created in April 2019,[108] and in an extremely positive report, the Labor Department reported 263,000 jobs created in April 2019 while the unemployment fell to 3.6%, nearly a 50-year low.[109][110] In early May 2019, jobless claims fell more than expected,[111] and they fell even further later in the month.[112] In mid-June 2019, jobless claims fell more than expected.[113] The Labor Department's jobs report for June 2019 was very positive with a significantly greater number of jobs created than expected and with a stable unemployment rate.[114] Jobless claims fell more than expected in the week ending in very late June 2019,[115] and they fell again in the first week of July 2019.[116] Jobless claims continued falling in July 2019.[117] The July 2019 jobs report showed continued strong employment and job creation data.[118] In mid-August 2019, jobless claims again fell more than expected.[119] On Labor Day 2019, the Labor Department reported that a record 157 million Americans were employed.[120] According to the ADP, private-sector job growth exceeded expectations in August 2019,[121] and the Institute for Supply Management reported service sector growth accelerated that month.[122] The Labor Department's August 2019 jobs report found steady job growth and strong wage growth.[123] Jobless claims fell significantly in early September 2019.[124]
  • In January 2019, the number of job openings increased more than expected and outnumbered unemployed Americans by 1 million.[125] In March 2019, the number of job openings again increased more than expected.[126] In April 2019, the number of job openings again increased while the number of Americans hired for jobs rose to a record high.[127] The number of job openings decreased in June 2019 but still remained strong.[128]
  • In the economic boom, women performed very well,[129] entering the labor force faster than men.[130] In April 2019, the unemployment rate for women reached the lowest level since 1953.[131][132] In April 2019, Hispanic unemployment fell to the lowest level ever recorded.[133][131] Also in April 2019, unemployment for those without bachelor's degrees fell to the lowest level in 19 years,[134] and in May 2019, unemployment for the same group fell to a record low.[135] Unskilled workers benefited significantly from the economic boom.[136] Veteran unemployment reached the lowest level in 19 years in April 2019.[137] Meanwhile, Asian-American unemployment fell to 2.1%.[110] Homeownership among Hispanics increased significantly.[138] In July 2019, black unemployment fell to the lowest level ever recorded,[139] and it fell even further in August 2019 while the unemployment gap between whites and blacks also fell to the lowest level on record.[140]
  • Entering 2019, a Pew Research Center survey, as well as other polls, found high economic confidence and general approval of President Trump's economic performance.[141] A UBS Investor Watch Pulse Poll conducted in early January 2019 found very high levels of long-term investor confidence,[142] and a Zogby Analytics Poll found that 79% of businesses planned on hiring new employees.[143] Also in January 2019, the Bank of America found that consumer spending and optimism remained strong.[144] A Gallup poll released in February 2019 found that the optimism of Americans in their finances reached a 16-year high, and the percentage of Americans who stated they were better off financially compared to the previous year reached the highest level since 2007.[145] In February 2019, the University of Michigan reported that consumer confidence increased more than expected.[146][147] Homebuilder confidence increased more than expected in February 2019.[148] According to the Conference Board, not only did consumer confidence increase in February 2019, but Americans' views of the economy reached the best level since December 2000.[149] The National Association of Manufacturers reported continued record optimism from both large and small manufacturing companies regarding economic growth.[150] The University of Michigan reported in early March 2019 that consumer sentiment increased more than expected.[151] A CNN poll in Mach 2019 found that 71% of Americans believed the economy was in good condition, the highest level since February 2001.[152] According to the University of Michigan, consumer sentiment increased in March 2019, with the survey reporting that the monthly proportion of American households seeing wage gains reached the highest level since 1966.[153] In March 2019, consumer spending rose at the highest level in nine years.[154] The Conference Board reported that consumer confidence rose more than expected in April 2019.[155] A Gallup poll in April 2019 found that financial optimism reached the highest level in eighteen years and that a majority stated their financial situation was either "excellent" or "good."[156] A Wells Fargo/Gallup Small Business Survey released in May 2019 found that 84% of small business owners had high optimism for the coming year.[157] The National Federation of Independent Business's Small Business Optimism Index for April 2019 found an increase in small business optimism.[158] In May 2019, the University of Michigan found that consumer sentiment rose to the highest level in fifteen years.[159] Gallup found in May 2019 that Americans' confidence in the job market reached a record high level.[160] A May 2019 Quinnipiac University poll found that 71% of Americans – including Democrats – thought the economy was "excellent" or "good," the highest proportion in nearly 18 years.[161] The Conference Board reported an increase in consumer confidence in May 2019.[162] A Job Creators Network/ScottRasmussen.com Weekly Pulse poll in May 2019 found that 52% of Americans thought the economy was either "excellent" or "good."[163] The NFIB's small business optimism index found that optimism increased in May 2019.[164] In May 2019, American consumer spending increased, exceeding expectations.[165] The University of Michigan reported that while consumer sentiment declined in June 2019, it performed better than expected.[166] Retail sales increased more than expected in June 2019.[74][167] The University of Michigan found that consumer sentiment in July 2019 was higher than expected.[168] A Pew Research Center study released in July 2019 found that a majority of Americans had a positive view of the economy, one of the highest levels in nearly 20 years.[169] The individual states also saw record business creation.[170] U.S. retail sales increased more than expected in July 2019,[171] and overall consumer spending also increased that month.[172][173] Low gas prices encouraged consumers to travel and, thus, helped the U.S. economy.[174] Retail sales increased more than expected in August 2019,[175] and according to the University of Michigan, consumer sentiment increased.[176] The NFIB also found continued small business optimism,[177] and optimism in the construction industry reached a record high.[178] Homebuilding also increased significantly.[179]
  • On January 14, 2019, VW announced it would spend $800 million on an expanded plant in Tennessee that would create 1,000 new jobs.[180] In early February 2019, Ford announced it would invest $1 billion into two Chicago-area factories, something which would create 500 new jobs and which Ford announced as it reduced its overseas operations,[181] and later in the year, it announced another $50 million in a Chicago factory and the creation of 450 full-time jobs.[182] On February 26, 2019, Fiat Chrysler announced it would spend a total of $4.5 billion to expand its operations in Michigan and create 6,500 new jobs, including building the first new auto assembly plant within Detroit's city limits since 1991.[183] On March 14, 2019, Toyota announced it would invest an additional $3 billion in five American plants, with a total investment of $13 billion by 2021, creating an additional 600 new jobs.[184] On March 20, 2019, Ford announced it would spend $900 million and create 900 new jobs in Michigan to manufacture electric and self-driving vehicles.[185] On March 22, 2019, GM announced it would invest $300 million in one of its plants in Michigan, creating 400 new jobs,[186] as well as $1.8 billion in overall investment in all its U.S. factories.[187]
  • The economy performed well across the country in 2019. Among other notable examples, wages in Indiana grew quickly because of President Trump's policies,[188] and the unemployment rate in Pittsburgh reached the lowest level since the early 1970s.[189] Red counties, which supported Trump in 2016, performed well economically compared to the country overall.[190] The housing market performed strongly in mid-sized cities such as Boise, Idaho, and Grand Rapids, Michigan.[191]

Failures, 2019

Many of these failures and setbacks to the MAGA agenda, if not all of them, were caused by Congress or officials in the Trump Administration, rather than President Trump himself:

  • Because of opposition from the GOP Senate establishment, President Trump was unable to appoint pro-Trump conservatives to the Federal Reserve Board.[192]

References

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  107. Multiple references: Jobless claims data two weeks later:
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  110. 110.0 110.1 Kafozoff, Kristian (May 3, 2019). US Unemployment at 49-year Record Low, 2.1% for Asian-Americans. The Epoch Times. Retrieved May 3, 2019.
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  118. Multiple references:
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  138. Kusisto, Laura; Eisen, Ben (July 15, 2019). Wave of Hispanic Buyers Shores Up U.S. Housing Market. The Wall Street Journal. Retrieved July 16, 2019.
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    See also:
  142. Bedard, Paul (January 15, 2019). 10-year economic optimism jumps: More hiring, investing, seeing fundamentals ‘strong’. Washington Examiner. Retrieved January 15, 2019.
  143. Bedard, Paul (January 19, 2019). Still hot: 79 percent of businesses to add jobs, tax cuts a big help. Washington Examiner. Retrieved January 19, 2019.
  144. Multiple references:
  145. Multiple references: See also:
  146. Adelmann, Bob (February 15, 2019). Consumer Confidence Up, Food Stamp Use Down in Trump Economy. The New American. Retrieved February 15, 2019.
  147. Multiple references: Data from later that month, from the University of Michigan:
  148. Multiple references:
  149. Multiple references:
  150. Bedard, Paul (March 5, 2019). 90% big manufacturers high on Trump economy, set 4.4% growth target. Washington Examiner. Retrieved March 5, 2019.
  151. Multiple references:
  152. Multiple references:
  153. Multiple references: Later data:
  154. Multiple references: See also:
  155. Multiple references:
  156. Multiple references:
  157. Multiple references:
  158. Multiple references: See also:
  159. Multiple references: See also:
  160. Multiple references:
  161. Multiple references: See also:
  162. Multiple references: The University of Michigan also found that consumer sentiment increase in May 2019, though it increased less than expected:
  163. Hudson, Jerome (May 30, 2019). Poll: 52 Percent of Adults Say the Economy Excellent or Good. Breitbart News. Retrieved May 31, 2019.
  164. Multiple references:
  165. Multiple references: See also:
  166. Multiple references:
  167. US retail sales beat expectations in June. CNBC (from Reuters). July 16, 2019. Retrieved July 16, 2019.
  168. Multiple references: Data later that month:
  169. Multiple references:
  170. Tanzi, Alexandre (July 18, 2019). Record Business Creation Seen in Presidential Battleground State. Bloomberg. Retrieved August 4, 2019.
  171. Multiple references:
  172. Multiple references:
  173. Mutikani, Lucia (August 30, 2019). Strong consumer spending propping up U.S. economy. Reuters. Retrieved August 30, 2019.
  174. Multiple references: See also:
  175. Multiple references:
  176. Multiple references:
  177. Jones, Brad (September 18, 2019). Most Small Business Owners Remain Optimistic Despite U.S.-China Trade War: NFIB. The Epoch Times. Retrieved September 18, 2019.
  178. Bedard, Paul (September 17, 2019). Hammer time: US construction index at record high, more work than workers. Washington Examiner. Retrieved September 19, 2019.
  179. Multiple references:
  180. Multiple references: President Trump's reaction:
  181. Multiple references: See also:
  182. Multiple references:
  183. Multiple references:
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  185. Multiple references: See also:
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  187. Multiple references:
  188. Munro, Neil (April 24, 2019). Indiana Wages Are Rising amid Donald Trump’s ‘Hire American’ Immigration Policy. Breitbart News. Retrieved April 24, 2019.
  189. Moore, Daniel (April 2, 2019). Pittsburgh jobless rate hits lowest point since the early 1970s. Pittsburgh Post-Gazette. Retrieved April 30, 2019.
  190. Boyle, Matthew (May 7, 2019). ‘Forgotten Man’ Comeback Story: Under Trump, Red Counties Economically Thrive. Breitbart News. Retrieved May 7, 2019.
  191. Kusisto, Laura; Butchireddygari, Likhitha (August 11, 2019). In Boise and Grand Rapids, the Housing Market Looks Red Hot. The Wall Street Journal. Retrieved August 11, 2019.
  192. Multiple references: See also: