Americans without college degrees are still facing fewer job opportunities than everyone else.
President Donald Trump’s first State of the Union speech on Tuesday evening will be another chance for him to boast about the “roaring” US economy.
The economy is hardly booming. It’s doing fine.
Yes, the unemployment rate is at a record 17-year low, but wages are barely rising. Yes, the economy added 2.1 million new jobs in 2017, but it did so at a slower pace than the past six years. The economy grew by 2.3 percent in 2017 — better than 2016, but not 2015. Yes, the stock market is definitely booming — a sign of Wall Street’s enthusiasm about recent tax cuts. But the Dow Jones Industrial Average is hardly indicative of the US economy’s fundamental health.
All of these factors suggest that the US economy is continuing the slow expansion it was experiencing in the years before Trump took office.
“You can mostly thank a slow-but-steady domestic rebound — what you would expect after a financial crisis — and a synchronized global recovery years in the making. Trump hasn’t been in charge long enough to really take credit for what’s happened thus far,” writes James Pethokoukis, an economist at the conservative American Enterprise Institute.
Even though the economy is getting stronger, that doesn’t mean all Americans are feeling it. Here are three areas of the US economy that remain troubling:
1) Job prospects for Americans without college degrees remain grim
It hasn’t gotten much easier for Americans who didn’t go to college to get work. In fact, this is the group that has benefited the least from all new jobs created during Trump’s first year in office (and the final years of the Obama administration, for that matter).
In the past 10 years, Read More Here