Donald Trump promised to put Americans back to work again, and he has done just that.
The latest jobs reports showed that jobless claims are at their lowest since 1969 under Trump.
The Trump Effect
The last time this few Americans filed for unemployment benefits was December 1969.
There several factors that have created the job spurt in this country.
First and foremost, there were tax cuts. Companies finally had money to grow and add jobs, and that is exactly what they did with the tax cuts.
This added jobs across the board and revived positions in some niches that were cut back in 2008.
Second, the administration has been cracking down on immigration, which means fewer illegals taking under-the-table jobs.
Companies that were using illegals regularly have been forced to create real positions that are now being filled by actual Americans.
This has also created an increase in wages.
With the talent pool drying up, companies that want the top talent in their respective fields are being forced to pay more money to these individuals to either keep them or lure them away from other companies.
No Signs of Slowing Down
As the initial impact of the tax cuts fades, many pundits were expecting layoffs to run rampant — but that is not happening.
Companies are still reporting a shortage of workers, and that does not appear to something that will change drastically anytime soon.
And while job growth has slowed somewhat, it is still significantly higher than growth in the working-age population.
Most critics of Trump’s economic plan predicted that the country would be in a downward spiral by this time, but that is obviously not the case.
The only thing that is capable of hurting the economy at this point is a Democrat winning the presidency in 2020.