Fox Hails Trump Economy Despite 23,000 July Job Losses and 0.1% Real Wage Growth
Updated
Updated · Media Matters for America · Aug 11
Fox Hails Trump Economy Despite 23,000 July Job Losses and 0.1% Real Wage Growth
3 articles · Updated · Media Matters for America · Aug 11
Summary
Fox News and Fox Business spent the past week calling the Trump economy “booming” and urging Republicans to campaign on it ahead of the midterms.
That message clashes with recent data: July payrolls fell by 23,000, May and June were revised down by 103,000 jobs, and real average hourly earnings were up just 0.1% over the year through June.
Inflation has also stayed elevated rather than returning to the Fed’s 2% target, while growth under Trump has lagged the second half of the Biden administration, according to the report.
The report argues Trump-backed policies are worsening affordability, citing tariffs estimated to cost households about $1,000 to $1,100 a year, higher fuel and electricity costs, and healthcare, drug and food-policy changes affecting millions.