Full Employment & Jobs Creation Under Trump is the Worse in Almost 100 Years

President Trump once said he would be "the greatest jobs president that God ever created." This is in stark contrast to the 22 million jobs lost since the start of the pandemic.

However, the December jobs reports are telling another story. For the current news, 6.7% of Americans are officially unemployed. Furthermore, 11.7% of Americans are unofficially unemployed, having given up searching for employment.

Trump is leaving office having lost more jobs than any other president in modern history. From inauguration to departure, Trump has lost more than 3 million jobs compared to previous presidents. The Labor Bureau has kept statistics from 1939 on job creation.
 

1. Trump -3


2. Obama: 11.6


3. Bush: 1.4


4. Clinton: 22.9


5. Bush Sr.: 2.6


6. Reagan: 16.1


7. Carter: 10.3


8. Ford: 2.1


9. Nixon: 9.2


10. Johnson: 12.2


11. Kennedy: 3.6


12. Eisenhower: 3.5


13. Truman: 8.7



 

 

The Economic Downturn

The economy has ebbs and flows. Now and then, the economy will go through a downturn. Trump, unfortunately, happened to have large job losses towards the end of his presidency. The shockwave was so large that all the gains from his administration's previous four years were wholly wiped out.

You cannot blame a president for an economic downturn. As you may have noticed, presidents love to take the credit when the economy is doing well. Who would not love to boast that the stock market is above 30,000 points for the first time in history and the employment rate is only 3.5%?

Thanks to Trump's economic policies and tax cuts for major U.S. corporations and the wealthy, the U.S.A. enjoyed an employment boom with significant job creation and financial bounty. It may take several years for the nation to get back to full employment, as seen from 2016-2019.

However, the global pandemic was Trump's most valid test of economic leadership. While you cannot blame the president for the pandemic and the subsequent financial fallout, Trump is responsible for how he handled the outcome.
 

Economic Policies

That being said, some of Trump's behaviors and economic policies in 2020 made things worse on a broader scale. Every American lost causes unimaginable pain. The nation loses its presence of companionship and employment expertise. Children lose the support of their parents, and insurance companies must settle large claims.

President Trump could have done several things to save more American lives and limit economic pain. This included the simple task of wearing masks and closing the border from Europe and South America in early March.

Trump did not put too much emphasis on wearing masks. He would wear one during times of necessity and take it off as soon as he was alone. Simple leadership in mask-wearing would have stopped the vast spread of the virus.

People thought that mask-wearing was not a big deal. The service industry lost many customers because of his example. Hotels and many restaurants had to close because of a lack of customers. A few beloved chains had to declare bankruptcy.
 

Delayed Aid

His administration's next mishap was the back-and-forth bickering on the rescue aid package. Americans waited in long snake-like lines for food for several hours in their cars. The unemployment boost ran out, and many residents were unable to pay full rent and mortgage payments.

Trump did not put much pressure on his party to get a deal done expediently. He kept flip-flopping on aid; first, he said let us get a deal done, then he said let us wait until after the election.

Businesses could not get additional PPP loans, and the airlines had to lay off pilots and flight attendants.

When Trump finally made a deal, people had already lost their unemployment benefits, and now may have to wait weeks for the new payments to start. The December jobs report reflects this economic reality, with over 140,000 jobs lost, held mainly by women.
 

Biden Fiscal Policy

Consumer spending accounts for over 80% of America's economic growth. The Biden Administration's top priorities should be adding targeted aid-like several additional weeks of unemployment assistance. The monetary aid, plus food assistance, could be tied to a state's economic growth for the quarter, leaving safety-net programs to kick in automatically without the necessity of congressional approval.

States must have balanced budgets. The new Congress can administer more aid to maintain public services without raising taxes for the middle class.
 

The Local Economy

State and local governments pled with Washington for additional help. Congressional leaders declined to lend states more assistance, calling it a "blue state bailout." As a result, 1.4 million people have lost their healthcare, education, and law enforcement jobs since February 2020.

The loss of jobs in the public sector hindered the growth of employment in the private sector. Congress must act to keep the Great Recession and Public Health Crisis of 2020 from ever happening again.