Middle-class Americans are earning $4,144, or 6.8 percent, more than they were when Donald Trump became president less than three years ago.
To put this accomplishment in perspective, real median household income during the entire tenure of President Barack Obama rose “by only about $1,000,” or 1.7 percent, according to a study reported in the Wall Street Journal.
These statistics account for the recession that Obama inherited by tracking real median household income from the end of the recession in June 2009, even though Obama took office in January 2009, Americans for Tax Reform (ATF) reported.
President George W. Bush oversaw a meager $401, or 0.7 percent, rise in real median household income.
ATF said the income data shows that the economy “remains strong” during the third year in Trump’s first term.
ATF pointed to additional data regarding hiring and job openings that indicates the economy will continue to grow.
The Bureau of Labor Statistics found, in the July 2019 Job Openings and Labor Turnover Survey, that there are 0.8 unemployed Americans for every job opening.
In July, 6 million Americans started a new job, and there are 7.2 million positions that remain unfilled.
Workers appear confident in their ability to find new, better employment, as 3.6 million Americans voluntarily quit their jobs in July.
Plus, the unemployment rate overall, as well as the unemployment rate for black and Hispanic Americans, has stayed at an all-time or near-all-time low.
The prospect of higher wages also seems to be drawing more Americans into the labor force, with 571,000 citizens deciding to look for a job in July, the largest increase since October 2018.
ATF said renegotiated trade deals, including the U.S.–Mexico–Canada Trade Agreement and the U.S.–Japan tade agreement, will further contribute to economic growth if implemented.
“This stands in stark contrast to Democrats in Congress and on the campaign trail that have proposed trillions of dollars in tax increases that will undo the existing economic growth that has benefited American families and businesses across the country,” ATF reported.