Donald Trump Jr. sent out a tweet on Wednesday touting what he perceives to be his father’s economic achievements.
The tweet included a link to an article in the Economist on the subject.
Ironically, the main thrust of the Economist article actually questions the influence of any of President Donald Trump’s policies on the main economic achievement noted in the article, which is the rise of real wages.
The article stated that, despite the economic recovery from the end of the recession, by "2014 the median worker’s inflation-adjusted earnings, by one measure, were no higher than they were in 2000."
The article went on to say that "Trump’s rise seems to have coincided with a turnaround in fortunes for the middle-class. In 2015, median household income, adjusted for inflation, rose 5.2 percent; in 2016 it was up another 3.2 percent. During those two years, poorer households gained more on average than richer ones.
Of course, those two years of progress are well before Trump was elected president.
The article does state that this progress has continued since Trump entered the White House, and "hat blue-collar wages have begun to rocket. In the year to the third quarter, wage and salary growth for the likes of factory workers, builders and drivers easily outstripped that for professionals and managers. In some cases, blue-collar pay growth now tops 4 percent."
The Economist then asks if this means that Trump has delivered on his promise to revive American manufacturing and mining.
However, despite the effusive praise from Trump Jr., the Economist concludes with the less than flattering statement about the president’s role in this that “A more probable explanation is that he came to office just as America began to run out of willing workers to fill all of its job vacancies.
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