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• ECONOMY UNDER VARIOUS PRESIDENTS FULL SIZE

Wages may rise within a business cycle as the labor market tightens and employers chase a dwindling pool of available workers. The stall in productivity growth is particularly troubling because it portends stagnation in the long term. In that context, America’s current economic performance remains disappointing: the prime-age labor-force participation rate remains weak, wage growth lags historical levels, and productivity growth languishes near its all-time lows. But in any business cycle, the peak looks better than the trough more meaningful is a comparison across cycles, between one peak and another. Certainly, conditions are better than 10 years ago, when the unemployment rate peaked at 10%. Trump for PresidentĪmerica’s economy has experienced a long, gradual recovery from the Great Recession of 2007–09, which was the nation’s sharpest downturn since the Great Depression of the 1930s. Corey Lewandowski, former campaign manager, Donald J. "By every conventional measure, America’s economic revival since the 2016 election has been one for the history books.For workers, conditions are some of the best they have ever been." (Average best year for post- WWII presidents: 5."Lots of great things to tell you about, including the fact that our Economy is the best it has ever been." Here is the complete list of the best year of real GDP growth under each postwar president (in descending order):

ECONOMY UNDER VARIOUS PRESIDENTS FULL SIZE

The following chart shows the best year of real GDP growth under each postwar president ( full size JPG here): At the other end of the spectrum, President Obama’s best year of economic growth (2.6 percent, in 2015) has been weaker than any other postwar president’s. In fact, Truman’s best year of economic growth (8.7 percent, in 1950) was better than any other postwar president’s best year. From 1947-onward, average annual real GDP growth in the postwar era (again, through 2015) has been 3.2 percent.īut the economy also truly flourished during portions of Truman’s tenure. Indeed, one could argue that, from an economic perspective, 1946 should be regarded as part of the WWII era-it clearly was influenced by the war-rather than as part of the post- WWII era.

In 1946, the economy severely retracted, with a decline in real GDP that was more than four times as large (-11.6 percent) as in any year since. President Harry Truman’s average, for example, is held down dramatically by his having been in office in the immediate aftermath of WWII. If economic growth does not improve over the rest of 2016, however, his overall tally would drop slightly.)Īnother way to examine economic success under various presidents is to look at whether the economy ever really grew significantly on their watch. Those figures, being from an incomplete year, are not included in President Obama’s tally. (According to the BEA, real GDP growth in 2016 has been 0.8 percent in the first quarter and 1.2 percent in the second quarter. Here is the complete list of average annual real GDP growth by postwar president (in descending order):

While that has been the postwar norm, however, average annual real GDP growth has varied greatly by president, ranging from a high of 5.3 percent under President Lyndon Johnson to a low of 1.5 percent under President Barack Obama, as the following chart conveys ( full size JPG here): Commerce Department’s Bureau of Economic Analysis ( BEA), average annual real (inflation-adjusted) GDP growth in the United States since 1946 (through 2015, the last full year for which figures have been released) has been 2.9 percent. Recently released GDP figures for the second quarter of 2016 invite the question of how the gross domestic product has fared under each of the dozen post-World War II presidents, a period spanning 70 years.