In the run up to the presidential election, Hillary Clinton positioned herself to be a continuation of the economic policies of President Barack Obama. On the other hand, Republican nominee Donald Trump has said that the economy is broken and he’s the only who can fix it.
Americans routinely cite the economy as one of their top concerns surrounding an election and academic studies have shown a link between personal economic standing and voting behavior, so it’s not surprising the candidates are highlighting the part of the economy that make their case.
So in the final days before the election, it’s important to look back at just how the economy is performing to see how it may influence the outcome.
Labor market data and broad indicators of economic activity aren’t going gangbusters, but are good enough to tip the scales in a favorable manner towards the incumbent party, and thus, Hillary Clinton.
The labor market is strong
Probably the strongest case for maintaining the so-called status quo with Clinton may be the US jobs markets.
Despite Friday’s jobs report coming in slightly under expectations, the labor market appears to be much stronger than it was four years ago. Gains have been slower in recent months, but steady. Wage growth is at a post-recession high and is spiking for the lowest wage earners; initial jobless claims have been under 300,000 for 85 straight weeks (the longest such streak since 1970); and job openings have recently been at or near all-time highs.
The U-6 measure of employment, which captures unemployed persons as well as those with a part-time job seeking a full-time job, was also at the lowest point since the recession in Friday’s report. Additionally, discouraged workers and median duration of unemployment are also at pre-crisis levels.
Read more: The tea leaves of the US economy point to a Clinton win
Americans routinely cite the economy as one of their top concerns surrounding an election and academic studies have shown a link between personal economic standing and voting behavior, so it’s not surprising the candidates are highlighting the part of the economy that make their case.
So in the final days before the election, it’s important to look back at just how the economy is performing to see how it may influence the outcome.
Labor market data and broad indicators of economic activity aren’t going gangbusters, but are good enough to tip the scales in a favorable manner towards the incumbent party, and thus, Hillary Clinton.
The labor market is strong
Probably the strongest case for maintaining the so-called status quo with Clinton may be the US jobs markets.
Despite Friday’s jobs report coming in slightly under expectations, the labor market appears to be much stronger than it was four years ago. Gains have been slower in recent months, but steady. Wage growth is at a post-recession high and is spiking for the lowest wage earners; initial jobless claims have been under 300,000 for 85 straight weeks (the longest such streak since 1970); and job openings have recently been at or near all-time highs.
The U-6 measure of employment, which captures unemployed persons as well as those with a part-time job seeking a full-time job, was also at the lowest point since the recession in Friday’s report. Additionally, discouraged workers and median duration of unemployment are also at pre-crisis levels.
Read more: The tea leaves of the US economy point to a Clinton win
