Don’t Look Now, But Minority Unemployment Is At Record Lows Under Trump | Stock News & Stock Market Analysis

Jobs: While economists and Wall Street analysts described December’s jobs report as “below consensus” or even “disappointing,” there was nothing disappointing for one broad group of Americans: minorities. For them, the Trump economy is delivering, big time.

It’s really about all of those at the bottom doing better. As we wrote in December, “the most interesting part of the jobs report, which goes almost unnoticed by the media, is that it’s not just a few groups seeing more jobs and opportunity — it’s broad-based, with minorities, women, men and even those with low incomes, showing the best gains.”

X And that’s still true this month. But it’s especially true for minorities.

Almost unnoticed by the mainstream media, unemployment rates for Hispanics, African-Americans and Asians have not only fallen, but are now at all-time lows. That’s right: Unemployment has never been lower for minorities, at least not since 1972, when such records first started being kept.

Over the past year, the unemployment rate has dropped 17% for Hispanics, 14% for African Americans and 11% for Asians.

More significantly, the jobless rate for African Americans fell to a record low 6.8% in December from 7.2% the month before. And it was the first time ever that unemployment for African Americans ever fell below 7%.

No Hidden Agenda: Get News From A Pro-Free Market, Pro-Growth Perspective

Hispanics, too, have seen unemployment drop to record-low levels. For Hispanics, unemployment fell below 5% for the first time ever in October. It stood at 4.9% in December, just a tick above its all-time low of 4.8% in October and November.

Meanwhile, Asians as a group saw their unemployment rate spike to as high as 8.4% in 2009. In December, it fell below 3% for the first time since 2007, dropping to a record-low 2.5%.

What’s interesting is that it is completely contrary to the reigning orthodoxy among leftist pundits and the media: That Donald Trump and his economic policies embody a kind of racism intended to keep minorities down.

Indeed, a quick Google search of the terms “Trump racism” returned 25.9 million hits in just 0.56 second. Headlines such as “Here Are 13 Examples Of Donald Trump Being Racist” (HuffPost), “How Donald Trump Happened: Racism Against Barack Obama” (Slate), and “Economic Anxiety Didn’t Make People Vote Trump, Racism Did” (The Nation) were common.

If that were so, however, why would President Trump put in place policies that, factually speaking, benefit minorities? It’s funny, too, that those that sell this toxic brew of false racism don’t mention the truth: That, like the rest of us, minorities thrive as the economy’s growth picks up.

To the media, minorities are mostly ignored — all but invisible — if they don’t confirm the bleak prevailing narrative of poverty and despair.

The truth is, Donald Trump’s policies on deregulation, tax cuts, justice reform and so much more have been good not just for the wealthy or any other single group, but for all Americans. Even the invisible ones.


Trumps’ Inclusive Jobs Boom  

Is The Trump Jobs Boom Beginning?

The Fraud Of Full Employment  

Click here for more Commentary and Opinion from Investor’s Business Daily.

Want to make more money in the stock market? Start with IBD University.



Source link

Originally posted 2018-01-06 23:24:55.


No comments.

Leave a Reply

error: Content is protected !!