When it comes to presidential elections, it’s always about the economy, and that includes strong jobs numbers. If President Trump’s chances of being re-elected are based solely on jobs, he will win handily again in 2020. With historically low unemployment numbers for Blacks, Hispanics, and women, it’s going to be very difficult for any Democrat candidate to defeat the president who also has an astounding 94% approval rating from his party. In July, President Trump tweeted about his approval rating with the Republican Party, thanking his supporters and comparing his approval rating to Ronald Reagan’s.
In addition to historically low unemployment numbers, the Epoch Times is reporting that more Americans have climbed to the middle-class under President Trump.
More than 1.2 million American households moved to above $50,000 in annual income between 2016 and 2018, according to Census Bureau data released on Sept. 10, a sign of a growing middle class.
The data is a boon to President Donald Trump, whose platform is centered on a strong economy and promises of increased prosperity.
While in 2016, some 58.5 percent of households enjoyed more than $50,000 in total money income, the share rose to more than 60 percent in 2018. The median household income, meanwhile, rose by nearly 2.3 percent—with all figures adjusted for inflation.
The comparison isn’t quite apples-to-apples since the bureau implemented a new methodology in its latest report that somewhat influenced the results for both 2018 and 2017.
Still, the data bears out a middle-class expansion unseen since the 1960s. Nearly 30 percent of households pulled in between $50,000 and $99,999 in 2018. That’s up from less than 29 percent the year before—the fastest increase since 1968.
In many respects, 2018 was a significant year for the middle class.
In the first months of 2018, the unemployment rate remained stuck at 4.1 percent, seemingly confirming forecasts of some economists that the 4 percent barrier signifies full employment. But the economy kept adding jobs. By the year’s end, unemployment fell to 3.7 percent, the lowest since 1969. Despite some ups and downs, the rate still stood at 3.7 percent in August 2019.