In an interview today with CNBC, White House economic adviser Gary Cohn admitted that February’s strong jobs growth is actually not attributable to new President Donald Trump.
Cohn pointed out that all of the promises of adding more American jobs that Trump has been obtaining from various corporations haven’t happened yet. The promises have been extracted, but the workers haven’t been hired.
“Look, there’s clearly a good February as part of the number. I’m not going to deny that. But on the other hand, when you look at what we’ve been doing here at the White House and all of the CEOs that we’ve brought in — whether it be Exxon or Sprint or Intel — they’ve promised enormous amounts of jobs and job creation in the United States. Those hirings have not been done yet. Those are future hirings.”
Furthermore, current hirings are a result of the steady job growth and economic growth that began under Barack Obama’s administration:
“So we’re still living on the hirings from the normalized economic growth that’s built into the system here. So when you look at what’s ahead of us and what’s built into the system, we have a huge backlog of hiring that we already know about in the normal run rate of the economy, so we’re very excited about what’s ahead of us.”
When Trump’s own staffers admit that Obama’s economic policies worked and Americans across the country reaped the benefits, you know that his success is undeniable.
While Obama inherited the worst recession in American history since the Great Depression, Trump has inherited a strong, stable economy. Unemployment is below 5% and the economy has been adding 2.4 million jobs per year since 2010.
Real wages have increased too, meaning that workers’ paychecks buy more than they used to.
We hope that the economy continues to grow under Trump so that all Americans can thrive. However, we are skeptical. Most of all, we will not sit by and let Republicans claim credit for growth that remains Obama’s strongest legacy.
Watch the interview here:
— CNBC Now (@CNBCnow) March 10, 2017