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Trump Promotes Low Unemployment and Rising Wages in State of the Union


I'm David Brancaccio New York president trump address both houses of Congress last night into a quick can be seen as a victory lap on America's place in the world and the state of the economy tonight I said for you to share the incredible results jobs are blooming incomes asorio poverty is plummeting crime is falling confidence is surging and our country is thriving and highly respected again he said he was thrilled to report the US economy is quote the best it is ever been it does need to be said that average growth in the economy as measured by gross domestic product during this administration is much lower than it was under presidents Bill Clinton and Ronald Reagan however the president headline the low unemployment rate market places Nancy Marshall ganzer joins us here from Washington with some context on that even the president said the unemployment rate is at the lowest level in half a century that's true the president also talked about what he called the blue collar Boone wages are rising fast and wonderfully they are rising fastest for low income workers who have seen a sixteen percent pay increase since my election but which is aren't rising as much as they normally would with an unemployment rate this low in the present also talked about factories he said his administration was restoring manufacturing is that right well the president said the US has gained twelve thousand new factories under his administration that number is a little off but the bigger issue is most of these factories employed five people or fewer the government has a very broad definition of a factory including things like bakeries candy stores and custom tailors also the institute for supply management's manufacturing index of more traditional factories fell for five straight months last year although there was an increase last month Nancy thank you the president's headline case that these are now with the good times has weight however this could be a risky strategy to pitch to people who have their own gauges of the economy we have our own stakes states of the union and may judge this in part on how their own household economy is doing Felicia Wong is president CEO of the liberal leaning nonpartisan think tank the Roosevelt institute thanks for joining us thank you David so it is the lowest unemployment in fifty years people on the left and right thought the trading system with China was broken and there's a phase one deal now with China wasn't the president right to show off his achievements I think the real argument it's hard to understand what's going on under the hood of the economy first of all trump inherited a recovery that's important to remember he didn't mess it up which is good they're also doesn't mean that he deserves any credit for some of that things that are happening out there that are intact better for American workers the question is whether the groceries yet there is either shared or last name and we look under the hood growth really isn't shared wages are barely rising even though they are better at the bottom adjusted for inflation we just for workers are up in less than one percent which is worse than under president Obama and more importantly wages are rising in part because we see minimum wage increases at the state level the president did refer to the fact that the lower half of incomes are improving but you're saying yeah in part because of increases in minimum wage which the ministration unlike that's right you have not seen a federal minimum wage increase because the Republicans opposed it but what you have seen in dozens and dozens of states and municipalities across the country is increases in the minimum wage pushed for by labor unions and other kinds of movement actors and this is a lot of what's actually driving wages are at the bottom where you really see growth in health care and other industries but a lot of those jobs are very precarious and a lot of that a lot of health care jobs are actually very low wage all right Felicia Wong head of the Roosevelt institute a liberal leaning nonpartisan think tank and we also spoke to conservative economist Glen Hubbard who used to be the chair of the council of economic advisers under George W. bush the marketplace morning report podcast feed has that if you missed it on the

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