On the recordJuly 17, 2019
Mr. President, after years of economic stagnation during the Obama administration, we are experiencing an economic revival. Thanks to Republican economic policies, the economy has taken off during the Trump administration. Unemployment is near its lowest level in half a century. June marked the 16th month that unemployment has been at or below 4 percent. For 15 straight months--15 straight months--we have had more job openings than Americans looking for work. Right now, there are roughly 1.6 million more job openings than Americans looking for work. That is the largest margin ever recorded. June also marked the 11th straight month that wage growth has been at or above 3 percent. Before 2018, wage growth had not hit 3 percent in nearly a decade. Importantly, the benefits of this economic growth are being spread far and wide. Ordinary Americans are seeing bigger paychecks, more jobs, and more opportunities. Over the past 3 years, pay hikes for the lowest income workers have grown the fastest. Huge numbers of new blue- collar jobs have been created. Unemployment rates for minorities have decreased substantially. The unemployment rates for Asian Americans, African Americans, and Hispanic Americans are all at or near record lows. While our economy as a whole is thriving, there is one segment of our economy that is not fully enjoying the economic growth we have been experiencing.…
Source
govinfo.gov




