In Trump's Economy
By: Henrry J.
Federal Reserve data identified an additional $15.8 trillion in household net worth since President Donald Trump took office in 2017. According to our friends at Reuters, household wealth increased by 54% under Trump. Wages for lower-skilled jobs rose faster than higher-skilled occupations. In January, non-farm payroll data showed a bigger-than-expected jump in overall employment, bolstered by an increase in construction jobs. Collectively, the bottom half of American households saw their net worth rise by 54% under Trump, from $1.08 trillion to $1.67 trillion.
During his time in office, Trump pledged to restore blue-collar fortunes, which previously lost $0.4 trillion in net worth. 84% of recent wealth gains accrued to 64% of households identified as white. 4.6% of wealth gains went to 14.5% of households identified as black, and 3.8% to 10.1% of households classified as Hispanic. Trump says, “This is a blue-collar boom,” and the data indicates that whites, college grads and baby boomers are leading the way with economic gains, how will this affect you in Trump’s economy?
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