ICYMI: U.S. Unemployment Rate Falls to 50-Year Low
| Crozer, William F. EOP/WHO | Oct 8, 2019, 3:23 PM (20 hours ago) | ||
American workers are thriving in today’s job market. The strong economy has created an environment where job opportunities are plenty and Americans are lifted out of poverty. The unemployment rate dropped to 3.5% in September, its lowest level in 50 years! We continue to see strong job growth as President Trump’s pro-growth policies drive an economic resurgence. More than 6.4 million jobs have been added since President Trump’s election. This is more jobs than the entire population of Maryland in 2018.
Below you will find additional information on recent economic and workforce development announcements. Several to highlight include:
· Monday, October 8, 2019, President Donald J. Trump signed the U.S.-Japan Trade Agreement & U.S.-Japan Digital Trade Agreement. The two agreements being signed will help create jobs, expand investment, reduce our trade deficit, and promote fairness. You can find a White House Fact Sheet (here) and a Fact Sheet from the Office of the United States Trade Representative (here).
· Tuesday, October 1, 2019, Secretary Ben Carson (HUD) accounted a new website (www.opportunityzones.com) that will serve as a hub of information for the array of audiences that work with the Opportunity zones Initiative. In 2017, President Donald J. Trump signed the Tax Cuts and Jobs Act, which established Opportunity Zones to incentivize long-term investments in low-income communities nationwide. More than 8,760 communities in all 50 States, the District of Columbia, and 5 Territories have been designated as Opportunity Zones.
· More than 350 companies and trade associations have signed the White House Pledge to America’s Workers, contributing to over 14 MILLION education and training opportunities for American students and workers over the next five years. For more information, visit here.
What You Need To Know: U.S. Unemployment Rate Falls to 50-Year Low
· Fact Sheet: American Workers Are Thriving as the Unemployment Rate Drops to Lowest Level in 50 Years (see below)
· Council of Economic Advisers: U.S. Unemployment Rate Falls to 50-Year Low (here)
· Presidential Proclamation on National Manufacturing Day, 2019 (here)
· Associated Press: Google Commits to White House Job Training Initiative
“Google pledged Thursday to help train a quarter of a million people for technology jobs, adding its name to a White House initiative designed to get private companies to expand training opportunities for Americans. CEO Sundar Pichai announced the commitment during an appearance with White House senior adviser Ivanka Trump at El Centro community college in Dallas.” Full article here.
· ICYMI – President Trump’s Policies Continue to Benefit All Americans, Especially the Disadvantaged
September 10, the Census Bureau released its official measures of the economic well-being of Americans in 2018. While Americans across the board generally saw improvements, the data show that in many cases those who had been forgotten in the past were lifted up the most. Real median household income increased to more than $63,000 in 2018, the highest level in nearly two decades. A growing economy that produces more jobs and higher earnings has driven the improvement in economic well-being. There were 2.3 million more full-time, year-round workers in 2018 than in 2017, of which 1.6 million were women. More information here.
· STEM Announcement: The Trump Admin is Working to Give Americans of All Backgrounds Access to STEM Education
“U.S. Secretary of Education Betsy Devos announced $123 million in new grant awards to 41 school districts, nonprofit organizations and state educational agencies across the United States as part of the Education Innovation and Research (EIR) Program. […] in addition to promoting innovation generally, the awards include over $30 million to eight grantees serving rural areas and over $78 million to 29 grantees focused on science, technology, engineering, and math (STEM) education. Over 85% of the funded stem projects include a specific focus on computer science.” More information here.
· U.S. Department of Labor Secretary Scalia Starts: Eugene Scalia was sworn in as U.S. Secretary of Labor.
“I am deeply honored to have the opportunity to serve in President Trump’s Administration and to lead this great Department where I worked nearly 20 years ago as Solicitor of Labor. The Department has important responsibilities to further its mission and implement the President’s agenda to protect and strengthen the American workforce. I am excited to get to work.”
· U.S. Department of Labor: Helping Workers Learn Skills
The U.S. Department of Labor has awarded nearly $29.2 million in demonstration grants to help workers learn skills for family-sustaining job opportunities in the Appalachian and Delta regions.
What The Admin Is Saying: Kudlow: “A Very Powerful Jobs Report”
NEC Director Larry Kudlow joined Fox Business and Bloomberg this morning to discuss the strong economy, trade talks, and more.
Click to watch
Please let me know if you have any questions.
The White House Office of Intergovernmental Affairs
William F. Crozer
Special Assistant to the President/Deputy Director
White House Office of Intergovernmental Affairs
O: 202-456-8491 | C: 202-881-8545 | E: William.F.Crozer@who.eop.gov=
What You Need To Know: American Workers Are Thriving as the Unemployment Rate Drops to Lowest Level in 50 Years
American workers are thriving in today’s job market. The unemployment rate is plummeting for Americans of all backgrounds.
· The unemployment rate dropped to 3.5% in September, its lowest level in 50 years.
· American workers are thriving in today’s job market, as the unemployment rate has remained at or below 4% for 19 consecutive months – the longest such streak in five decades.
· Today’s strong economy is lifting up Americans of all backgrounds.
o The Hispanic unemployment rate fell to a new record low of 3.9% in September, dropping below 4% for the first time ever.
o The African American unemployment rate remained at a record low of 5.5% in September.
o The unemployment rate for Americans with a disability reached its lowest level on record.
o The unemployment rate for Americans with less than a high school diploma fell to 4.8%, a record low.
We continue to see strong job growth as President Trump’s pro-growth policies drive an economic resurgence.
· More than 6.4 million jobs have been added since President Trump’s election.
o This is more jobs than the entire population of Maryland in 2018.
· 136,000 jobs were created for American workers in September, showing the continued strength of the economy.
· Our continued economic resurgence is defying expectations and demonstrating the effectiveness of President Trump’s pro-growth policies
o Job gains have exceeded 100,000 in 31 of the 34 months since President Trump’s election.
o We have averaged 179,000 new jobs per month over the last year.
o In contrast, the Congressional Budget Office predicted only 14,000 new jobs per month at this point in its pre-2016 election forecast.
· More than 500,000 manufacturing jobs and nearly 700,000 construction jobs have been created since President Trump’s election.
