In June 2010, when Barack Obama was a year-and-a-half into his presidency, the unemployment rate stood at 9.5 percent.
For June 2018, a year-and-a-half into President Donald Trump’s administration, unemployment stands at 4 percent.
It’s like a contest of a soaring eagle and a field mouse. A three-legged, limping, wounded field mouse.
Once again, for those in the back of the room: Obama, circa June 2010 — 14.6 million unemployed.
Trump, circa June 2018 — 6.6 million unemployed. And that figure represents an increase of 499,999.
“The unemployment rate rose by 0.2 percentage point to 4.0 percent in June , and the number of unemployed persons increased by 499,999 to 6.6 million,” reported the Bureau of Labor Statistics.
You know what that means, don’t you?
A Trump administration’s bad day is an Obama administration’s wished-for day.
Just look at today’s headlines from the economic world under this White House:
“Nike Announces Pay Raises for 7,000 Employees Around the World,” rang Fortune.
Then this from Dallas News: “Lockheed Martin to hire 400 people in Fort Worth for F-35 jet program.”
And this bit from Fox Business: “White House economic advisers are spreading the word that second-quarter GDP, out Friday, may surpass 4% — the first time growth has hit or exceeded that number since the third quarter of 2014.”
Compare that to the news from the financial world from mid-2010.
As the left-leaning Brookings Institution summarized in December 2010: “The uneasy economy continued to dominate the headlines in 2010. Unemployment rates, climate change, the Federal Reserve and sovereign debt were among the top stories.”
Once again — any questions?
With elections on the horizon, and the face of Democrats taking a turn toward wild-eyed socialists, it’s not looking like Republicans seeking office would have much of a problem — unless, of course, they want to bash the very White House hand that’s politically feeding them.
• Cheryl Chumley can be reached at firstname.lastname@example.org or on Twitter, @ckchumley.
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