Trump's tweet on economy almost checks out

12 News reporter Brahm Resnik verifies whether Trump's tweets about the record high stock market and the nation's low unemployment rate are accurate.

President Trump likes to talk up the economy with his tweets.

Here’s what he posted Monday:

We checked his claims against Wall Street charts and numbers the US government puts out. Trump's tweet almost checks out.

'Highest Stock Market EVER'

That's an easy one. The Dow Jones Industrial Average was at 18,332 when Donald Trump was elected nine months ago.

Today, the Dow is flirting with a new record: 22,000.

That would be a 20 percent gain since Election Day.

For context, the Dow soared almost 200 percent after Barack Obama's election in 2008 through the end of his term.

We can verify the Dow Jones Industrial Average has broken several records since Donald Trump won the White House.

'Best economic numbers in years.'

Trump doesn't say what those economic numbers are. He's probably referring to a new estimate that the nation's economy grew by 2.6 percent in the last three months.

But that's not a "best number" for the economy.

It's grown faster in recent years. That pace was topped eight times in the last 4 1/2 years, according to government data.

We can verify the country is not seeing the best economic numbers in years.<

‘Unemployment lowest in 17 years’

The June unemployment rate was 4.4 percent.

That number is not the lowest in 17 years, but it is the lowest in 10  years, since May 2007, according to the Bureau of Labor Statistics.

For context -- the nation's jobless rate trended below 5 percent for President Obama's last nine months in office.

We can verify the jobless rate is at a decade low -- not Trump’s 17-year low.

‘Wages raising’

We’ll assume that’s a "twypo" (the tweet posted at 5:30 in the morning), and the president meant wages rising.

He's right, but that's not saying much.

Hourly pay has been rising month by month for the last 2 1/2 years,  but workers' gains have been puny, according to BLS.

During the first six months of 2016, hourly pay inched up by 25 cents.

During the first six months of this year, wages rose just 23 cents.

We can verify that wages are rising, but at a tepid rate.

© 2017 KPNX-TV


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