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Economic Report of the President, Together with the Annual Report of the Council of Economic Advisers

March 18, 2019
By Donald J. Trump

A review of U.S. economic performance in 2018 and outlook for the future.

"The United States economy has created 5.3 million jobs since I was elected to office. Wage growth continued in 2018, with the lowest-earning workers experiencing the strongest gains. By the fourth quarter of 2018, real disposable personal income per household was up more than $2,200 from the end of 2017. The national unemployment rate reached a nearly 50-year low of 3.7 percent in September 2018, hovering at or below 4 percent for 11 consecutive months—the longest streak in nearly five decades. Opportunity is expanding so fast that there are more job openings in our economy than there are current job seekers."

"Unemployment among those without a high school degree is the lowest in nearly 30 years. In the past year, the unemployment rate among women fell to 3.3. percent, matching its lowest rate since 1953. Teenage unemployment reached its lowest rate in nearly 50 years. My Administration has presided over the lowest unemployment rates for people with disabilities on record. Poverty rates for both black Americans and Hispanic Americans reached record lows in 2017. Homelessness among veterans fell by 5.4 percent in the past year. The bottom 10 percent of earners are experiencing the highest wage growth on record, and we have lifted nearly 5 million Americans off food stamps since my election... In the first two years of my Administration, we have created manufacturing jobs at six times the pace of the previous Administration’s last two years, for a total of nearly half a million jobs. Blue-collar workers, on average, are on track to see almost $2,500 more in annual wages."