Tariff talk has overshadowed economic achievements of the second Trump administration through its first 100 days, according to a White House memo.
Nearly 350,000 jobs have been created and prices have declined in several key sectors since President Donald Trump was sworn into office Jan. 20, according to an economic memo released by the president’s Council on Economic Advisers Staff.
In fact, last month’s Consumer Price Index decline was only the second monthly decline in inflation in the last 2½ years.
Of the jobs created under Trump, 54% (188,000) were neither government nor government-adjacent jobs.
The job creation differs from the last two years under former President Joe Biden, who saw three-fourths of all new jobs created in government or government-adjacent sectors.
Among the jobs created under Trump were 2,000 for mining and logging, 27,000 for construction, and 9,000 for manufacturing.
And while the private sector experienced job gains, 15,000 jobs were cut from the federal government.
Also, the unemployment rate for veterans in March was 3.8%, down from 4.2% in January.
As for other inflation-related accomplishments, prescription drug prices were down more than 2%, gas prices down 7%, and energy prices were down 2% since Trump took office.
The council’s memo also said airfare, used motor vehicles, and motor insurance all saw price decreases last month.
Also, wholesale egg prices, which escalated under Biden, have declined 50% since Trump’s inauguration.
Each of the last two CPI inflation prints came in below expectations, as February inflation (the month prior to the most recent data) showed the smallest annual increase in core inflation in over four years (since March 2021).
Other economic achievements since Trump took office include:
- Real average hourly earnings for middle- and low-income workers were up 0.4%, and 1% for workers in the manufacturing sector.
- The biggest one-month increase in auto sales in March in more than a year.
- Mortgage rates have declined roughly four-tenths of a percentage point.
- More than 20 significant deregulatory presidential actions.
© 2025 Newsmax. All rights reserved.
Comments