"In his State of the Union address less than two weeks ago, the Republican president confidently told the country: "The roaring economy is roaring like never before." The latest batch of data on jobs, pump prices and the stock market suggests that Trump's roar has started to sound far more like a whimper."
"Friday's employment report showed job losses of 92,000 in February. The January and December figures were revised downward, with December swinging to a loss of 17,000 jobs. Monthly data can be rocky, but a trend has emerged that shows an enduring weakness. Without the health care sector, the economy would have shed roughly 202,000 jobs since Trump became president in January 2025."
"There is a gap between the boom that Trump has predicted and the volatile results he has produced - one that could set the tone in this year's midterm elections as he tries to defend his party's majorities in the House and Senate. With Trump's tariffs drama ongoing, the war in Iran has suddenly created inflationary concerns regarding oil and natural gas."
President Trump predicted robust economic growth for 2026, but early data contradicts his optimistic forecasts. The job market has weakened significantly, with February showing 92,000 job losses after January's revised figures and December swinging to negative territory. Outside healthcare, the economy has shed approximately 202,000 jobs since Trump took office. Gasoline prices have risen, and stock market volatility persists. Tariff policies and geopolitical tensions, including conflict in Iran, have created inflationary pressures on oil and natural gas. The unemployment rate for U.S.-born workers has increased to 4.7% from 4.4% over twelve months. This economic underperformance could significantly impact midterm elections as Republicans defend their congressional majorities.
#economic-performance #job-market-decline #trump-administration #midterm-elections #inflation-and-tariffs
Read at ABC7 Los Angeles
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