FACT FOCUS: Trump boasts about the economy but there’s more to the story
President Donald Trump has been extolling his economic accomplishments on social media and at events like a rally at a Las Vegas resort Wednesday. He touts recent record stock market highs and claims a boom in…
President Donald Trump has been promoting his economic achievements on social media and at an event in Las Vegas on Wednesday, August 5, 2026. Trump highlighted recent record stock market highs, increased hiring, manufacturing, and investment. However, the claims are a mix of truth, exaggeration, and ambiguity. With the upcoming midterm elections in November 2026, determining whether Trump's Republican Party will maintain full control of Congress, the public's frustration with the economy and high cost of living is evident.
Only 32% of U.S. adults approved of Trump's handling of the economy in an AP-NORC poll conducted late in July. Additionally, 69% of Americans labeled the economy as "poor."
The story reveals that while the number of jobs in the U.S. has been hitting records, this isn't the whole picture. Trump claimed, "More Americans are working in the United States right now than at any point in the history of our country." This is technically true, but it requires context. The economy consistently adds jobs each month, so new highs are being set regularly.
In June 2026, the United States had nearly 159 million jobs, marking a record. If the July jobs report shows another uptick, as is expected, U.S. payrolls will again set a new high. However, during Trump's second term, job growth has significantly slowed. In 2025, companies, government agencies, and nonprofits added only 9,700 jobs a month, the weakest hiring since 2002 outside a recession.
So far this year, they have created 92,000 jobs a month, which is better but unimpressive by historical standards. In President Joe Biden's four years, employers added an average of nearly 329,000 jobs a month. Those numbers were boosted by a record hiring surge in 2021 and 2022 following the end of COVID-19 lockdowns. By 2023 and 2024, job growth averaged 166,000 a month.
Factors contributing to lower job growth include high interest rates, Trump's own immigration crackdown, and the ongoing retirement of Baby Boomers.
Written by urgent.news from Associated Press's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
