Now, there’s even more good news for the Trump economy. On Thursday, the nonpartisan Bureau of Labor Statistics announced that young people are doing very well on the job front.
“From April to July 2018, the number of employed youth 16 to 24 years old increased by 2.0 million to 20.9 million,” the BLS said.
“The unemployment rate among young Americans fell to its lowest level in more than 50 years this summer,” The Wall Street Journal reported.
Trump himself proudly shared that information via Twitter on Friday, in a post that was “liked” over 84,000 times.
Just announced, youth unemployment is at a 50 year low! @foxandfriends
— Donald J. Trump (@realDonaldTrump) August 17, 2018
Perhaps the most interesting observation is that many of the groups who have been reluctant to vote for Trump — black Americans and young people, for instance — are benefiting the most from his presidency. – READ MORE
[divider][/divider]Top Reagan economic adviser Art Laffer stated on Friday that the current boom the U.S. economy is experiencing could last for up to a decade.
On Fox News, Laffer was asked to respond to Trump National Economic Council director Larry Kudlow’s assertion that 4.1 percent Gross Domestic Product growth rate achieved during the second quarter is sustainable.
“It is surely possible,” he answered. “My view is it’s really possible for the next eight or ten years, it’s possible to get this type of growth to bring us back to the standard of living we were living at when Clinton left office and we had the disaster of (George W. Bush) and (Barack) Obama.”
Laffer added, “Whether it will happen or not as Larry said, it’s all policies oriented. Policies really matter. Tax cuts, sound money, free trade, minimum regulations and spending restraint, all of that matters and this administration can do it and really set us off on the launch pad.”
In his 2009 book, “The End of Prosperity: How High Taxes Will Doom the Economy — If We Let It Happen,” Laffer, along with co-authors Stephen Moore and Peter Tanous, argued that the tax and deregulation policies enacted under Ronald Reagan beginning in the early 1980s unleashed a 25-year economic boom. – READ MORE
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