Out this morning from @BEA_News: GDP surged in the third quarter, growing 7.4 percent (+33.1% at an annual rate). This is the single largest quarter of economic growth on record, and roughly twice the prior record set in 1950. The United States has now recovered 2/3 of pandemic-losses in a single quarter. It took 4x longer to recover the same share of lost economic output in the recovery from the Great Recession.

Some claim that today's booming economy isn’t the result of pro-growth policies, but instead a continuation of the earlier recovery. NOT TRUE. For income, wages, wealth, housing, jobs, stocks, and GDP, the @realDonaldTrump economy beats past forecasts, results, and trends @realDonaldTrump inherited what was by far the slowest economic recovery in the post-war era. During economic expansions, growth tends to taper as the expansions continue. Rather than slow down, the economy ACCELERATED after the 2016 election.

NEW data from @BLS_gov - the unemployment rate in September fell 0.2 p.p. to 3.5 percent, its lowest rate in over half a century. #jobsday The #unemployment rate for Hispanic-Americans reached a historic low of 3.9 percent. African American unemployment held steady at its record low of 5.5 percent.

New from @BLS_gov - in August, the #unemployment rate remained at 3.7%, and has been under 4% for 18 consecutive months, the longest such streak since 1970! The economy added 130k #jobs in August and wage growth remained strong. Nominal average hourly earnings for private workers have increased 3.2% over the past 12 months and 3.5% for private non-supervisory workers.

The 2019 Economic Report of the President is out! You can read it here: whitehouse.gov/wp-content/upl… Real GDP grew 3.1 percent during the 4 quarters of 2018, and was the fastest Q4-to-Q4 growth since 2005. It was also 0.9 percentage point above the pre-TCJA trend, and 0.8 percentage point faster than the last term of the previous administration

Real average hourly earnings rose 1.9% during the past 12 months, well exceeding the 0.4% pace during the year-earlier period. Real wages for American families are soaring. #CPI #BLSdata Gasoline prices fell 9.1% during the past 12 months, a turnaround from the 12.6% increase during the 12 months through February 2018. Americans are paying less at the pump.

New paper on The Opportunity Costs of Socialism: whitehouse.gov/briefings-stat… via @whitehouse 1/6 Wait times for elective surgery in the US are shorter for *everyone* (in 16 developed countries) -- not just seniors. Can’t use the chart as proof that socialized medicine (ie, what some believe Medicare is) works. Note that Medicare is, in fact, not socialized healthcare.