This Labor Day, as we celebrate the dignity of work across our land, we can justly take solace that our economy recovers quickly from the ravages of the China virus, and the economic data points increasingly reveal a country roaring back to life, especially in job creation. We know much work still lies ahead.
We also realize that we cannot reverse time and undo the incredible damage wrought upon the world by the Chinese Communist Party. The duplicity and malfeasance of China’s rulers quite literally infected the world and crashed the global economy, inflicting an artificial halt upon an American economic boom that flourished in our nation, with particular benefits to working-class labor, the American strivers.
But we can decide, from here, how we approach this great national economic revival and we can—and will—determine that the path forward for jobs must include re-electing President Trump. We will rehire the man responsible for the conditions that led to the first Trump Boom, fully aware that the Trump Boom 2.0 already commences, and can accelerate in a second term.
On Friday, the Labor Department issued another blockbuster payrolls report. As our country renews our economic vigor, historic records for job gains have been set in each of the last four months, with over 10 million total jobs created. In addition, the breakout report for August detailed a staggering drop in the jobless rate, falling almost two percentage points in a single month to 8.4 percent. In addition, these 1.4 million new hires in August represent quality jobs, as the pace of wage gains vaulted higher to 4.7 percent, year over year.
To put that number in context, consider that during the entire Obama-Biden Administration, America did not enjoy even one single year of 3 percent or better wage growth, the worst extended wage stagnation since the Great Depression. Under President Trump, before the China virus, our nation prospered with 18 straight months of annual wage growth above 3 percent, with even larger gains accrued to the economic underdogs who so badly lagged during the slow-growth Obama-Biden years: blue-collar workers, minorities, and those with lesser educational credentials.
Now, President Trump’s wage acceleration encore unfolds, defying skeptics, and surprising economists. In fact, some of the biggest gains detailed in this recent report also flowed to the groups most in need of relief. For example, just three sectors accounted for more than one-third of all the jobs added in August, all of them industries typically staffed by economic strivers: retail, hospitality, and transportation. The hard economic numbers prove that store clerks, waitresses, and truckers returned back to work in record numbers.
Regarding trucking, the Wall Street Journal reports that volume surges higher, causing long-haul rates for big rigs to climb to $2.22 per mile, up 22 percent over the same time last year, before any of the virus issues, and almost 40 percent off the lows of the spring during the most severe shutdown restrictions. Such data, combined with the breakout jobs numbers, prove that America is, quite literally, rolling onward. In fact, economic data points, from soaring home sales to strong industrial production, all quantify that American enterprise forms a “super V” shaped recovery.
The last thing this burgeoning economic rebound can abide is a return to the statist and globalist policies of Joe Biden. His threats to inflict a massive $4 trillion tax hike on our country would smash the economic revival and punish 82 percent of all taxpayers. Moreover, he promises to remove President Trump’s tariff upon China, without any conditions for fairness or reform from Beijing. Biden would clearly return America to a place of economic supplication to the tyrants of the CCP.
We are not going back to globalism. Our economic rebound gains steam, and this revival already leads to an America growing in confidence, and more secure with supply lines returned to our shores.
In Trump’s second term, the United States will continue to pursue economic nationalism. We will prioritize our workers in trade deals and aggressively restrain the tax and regulatory burdens upon American innovators. Re-electing our jobs president will ensure that future Labor Days are indeed celebratory for American workers.