This is certainly good news for the country. It’s also good news politically for President Trump, who’s re-election is going to heavily depend on a booming economy.
The June jobs report has been released and it has blown past expectations, with 224,000 jobs added and a large increase in the labor participation rate.
Massive June jobs report:
*224,000 new jobs, smashing expectations of 165,000
*unemployment rate at 3.7%
*3.1% wage growth
— Steve Guest (@SteveGuest) July 5, 2019
Wage growth of 3.1% is also really big news because that’s been one area Democrats have tried to make headway on. As recently as their debate last week, you heard candidates in their 2020 primary talking about how the economy is only working for the rick. The truth is that this is a broad, vibrant economy that is lifting all boats. It’s going to be increasingly difficult to make the case that we are in the midst of a bad economy when we continue to get numbers like this.
Of course, those racing to face off against Trump in 2020 will certainly still try. I suspect it’ll continue to fall on deaf ears though. Even a majority of Democrats currently believe the economy is good. The facts simply do not back up any of the doomsday scenarios we’ve heard. Even in the midst of the current boom, we’ve had others predicting a recession. That hasn’t materialized either and we are getting to the point where one clearly won’t happen before the 2020 election.
That leaves Democrats making nonsensical cases for utopias that can’t actually be achieved. Telling people who are enjoying growing wages and steady work that they need the government to step in and essentially start running the economy, from healthcare to loans, is a hard sell. Running on raising taxes, as Biden and Harris (among others) are doing is likely political suicide.
For Trump’s part, all he needs to do is stay focused. Avoid slap fights with irrelevant people and do what he did yesterday on the Fourth of July. Present a unifying message of American exceptionalism backed up by an economy that is crushing it by every tangible measure. If he does that, he makes his re-election much more likely.