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The unemployment rate has risen on average under Republican presidents, while it has fallen on average under Democratic presidents. Budget deficits relative to the size of the economy were lower on average for Democratic presidents. [1] [2] Ten of the eleven U.S. recessions between 1953 and 2020 began under Republican presidents. [3]
What was the unemployment rate under Trump? According to Bureau of Labor Statistics, unemployment during Trump's presidency peaked in April 2020 at 14.8%, heavily due to the COVID-19 pandemic.
The unemployment rate when Trump took office was 4.7%; when Trump left office, the unemployment rate was 6.3%, [211] which is above the median historical norm (5.6% is the median U.S. unemployment rate for all months since 1948). [212]
The Democratic presidents were in office for a total of 429 months, with 164,000 jobs per month added on average, while the Republicans were in office for 475 months, with a 61,000 jobs added per month average. The table below summarizes the results for the past seven presidents, with data through January 2021 for President Trump: [5]
When looking at the numbers, Donald Trump is mostly better than average. Inflation was just 1.4% during his years, which is the second lowest. ... but the unemployment rate under Biden is the ...
The unemployment rate has fallen to even lower levels under Biden than it did for Trump. Unemployment has fallen 2.4 percentage points under Biden’s term so far, while rising 8.5 percentage ...
The unemployment rate fell by 2 percentage points under Obama versus 1.2 points under Trump. [32] ... 19 months where the unemployment rate declined. On average ...
That said, average hourly earnings growth under Trump had - prior to the pandemic - climbed persistently above 3% to its highest level in any year since the 2008 global financial crisis.