Live by Inequality, Die by It

When you've spent ten years trumpeting 'growing inequality' as the chief economic measure, well...
Take the economy, which is faring better under Mr. Trump by many measures than it has in a generation or longer. Each week throughout this summer has brought almost nothing but economic sunshine. The pace of factory hiring has more than doubled since last year. A July survey from the National Federation of Independent Business notes that optimism among small-business owners, who employ nearly half the nation’s private-sector workforce, is at levels not seen since 1983. Wages are also increasing, which was reflected in a Commerce Department report last week that showed retail sales—on groceries, restaurants and clothing—far exceeding economic forecasts and surging at double the rate of inflation.

The best feature of this economic growth is its inclusiveness. The simultaneous gains among various demographic groups is something the country hasn’t experienced in a long time, if ever. Older workers, women, minorities, seniors and the less-educated all are faring better in the labor force today than they did under President Obama. The jobless rate for Americans age 16 to 24 hit a 50-year low this summer. In May, the black unemployment rate dipped to 5.9%, the lowest number on record at the Bureau of Labor Statistics. People who had stopped looking for work are sending out resumes. More people are quitting jobs because they are confident that a better one awaits. Employers are increasing perks and benefits in an effort to attract new hires and keep the ones they already have. There were 6.7 million job openings last quarter, a 17-year high.

When the media reports this good news, the stories too often resemble a Democratic National Committee press release.

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