Trump keeps touting the fact that more Americans are working than ever before. But the boast is almost meaningless for one key reason.
- President Trump touted his handling of the economy at a speech for the New York Economic Club on Tuesday, pointing out the record number of people in the US who are employed as a measure of his success ahead of the 2020 election.
- But that figure is misleading for one key reason: the boost in the number of employed Americans largely tracks with the nation's population growth, as more Americans come of age and enter the workforce.
- While an aggregate number of people with a job is increasing along with the overall population, as Trump touts, the percentage of Americans who are employed is not at a record.
- The labor participation rate, which is the percentage of Americans who are employed or actively looking for work, stands at 63%, a drop from the record rate of 67.3% from 2000.
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