Trump Administration Accomplishments – Unprecedented Economic Boom

As of January 2021

Trump Administration Accomplishments

Unprecedented Economic Boom

Before the China Virus invaded our shores, we built the world’s most prosperous economy.

    • America gained 7 million new jobs – more than three times government experts’ projections.
    • Middle-Class family income increased nearly $6,000 – more than five times the gains during the entire previous administration.
    • The unemployment rate reached 3.5 percent, the lowest in a half-century.

  • Achieved 40 months in a row with more job openings than job-hirings.
  • More Americans reported being employed than ever before – nearly 160 million.
  • Jobless claims hit a nearly 50-year low.
  • The number of people claiming unemployment insurance as a share of the population hit its lowest on record.
  • Incomes rose in every single metro area in the United States for the first time in nearly 3 decades.

Delivered a future of greater promise and opportunity for citizens of all backgrounds.

  • Unemployment rates for African Americans, Hispanic Americans, Asian Americans, Native Americans, veterans, individuals with disabilities, and those without a high school diploma all reached record lows.
  • Unemployment for women hit its lowest rate in nearly 70 years.
  • Lifted nearly 7 million people off of food stamps.
  • Poverty rates for African Americans and Hispanic Americans reached record lows.
  • Income inequality fell for two straight years, and by the largest amount in over a decade.
  • The bottom 50 percent of American households saw a 40 percent increase in net worth.
  • Wages rose fastest for low-income and blue collar workers – a 16 percent pay increase.
  • African American homeownership increased from 41.7 percent to 46.4 percent.

Brought jobs, factories, and industries back to the USA.

  • Created more than 1.2 million manufacturing and construction jobs.
  • Put in place policies to bring back supply chains from overseas.
  • Small business optimism broke a 35-year old record in 2018.

Hit record stock market numbers and record 401ks.

  • The DOW closed above 20,000 for the first time in 2017 and topped 30,000 in 2020.
  • The S&P 500 and NASDAQ have repeatedly notched record highs

Rebuilding and investing in rural America.

  • Signed an Executive Order on Modernizing the Regulatory Framework for Agricultural Biotechnology Products, which is bringing innovative new technologies to market in American farming and agriculture.
  • Strengthened America’s rural economy by investing over $1.3 billion through the Agriculture Department’s ReConnect Program to bring high-speed broadband infrastructure to rural America.

Achieved a record-setting economic comeback by rejecting blanket lockdowns.

  • An October 2020 Gallup survey found 56 percent of Americans said they were better off during a pandemic than four years prior.
  • During the third quarter of 2020, the economy grew at a rate of 33.1 percent – the most rapid GDP growth ever recorded.
  • Since coronavirus lockdowns ended, the economy has added back over 12 million jobs, more than half the jobs lost.
  • Jobs have been recovered 23 times faster than the previous administration’s recovery.
  • Unemployment fell to 6.7 percent in December, from a pandemic peak of 14.7 percent in April – beating expectations of well over 10 percent unemployment through the end of 2020.
  • Under the previous administration, it took 49 months for the unemployment rate to fall from 10 percent to under 7 percent compared to just 3 months for the Trump Administration.
  • Since April, the Hispanic unemployment rate has fallen by 9.6 percent, Asian-American unemployment by 8.6 percent, and Black American unemployment by 6.8 percent.
  • 80 percent of small businesses are now open, up from just 53 percent in April.
    Small business confidence hit a new high.
  • Homebuilder confidence reached an all-time high, and home sales hit their highest reading since December 2006.
  • Manufacturing optimism nearly doubled.
  • Household net worth rose $7.4 trillion in Q2 2020 to $112 trillion, an all-time high.
  • Home prices hit an all-time record high.
  • The United States rejected crippling lockdowns that crush the economy and inflict countless public health harms and instead safely reopened its economy.
  • Business confidence is higher in America than in any other G7 or European Union country.
    Stabilized America’s financial markets with the establishment of a number of Treasury Department supported facilities at the Federal Reserve.