Aug 09
Trump’s Economic Outlook: A Mixed Bag of Job Losses and Wage Growth in July Report
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In this week’s Discussion Points, David Winston breaks down the latest Bureau of Labor Statistics’ employment data and its implications for Trump’s economic legacy. Key takeaways include:
- July’s job gain of just 73,000 fell short of expectations, while revisions for May and June revealed a loss of 258,000 jobs—altering the narrative on job creation.
- On a positive note, weekly wages rose by 4.2% year-over-year in July—the best showing since Trump’s presidency, with a 2.3% increase since January.
- The upcoming CPI report will be crucial to gauge whether wage growth can outpace inflation, which has risen 1.7% since January.
Read David’s full column, “Trump’s Missed Opportunity: BLS Wage Growth Numbers,” for an in-depth analysis of these trends and their potential impact on the economy.
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