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Reality Check Team. BBC Corporation. 23rd September 2020.
According to BBC, President Trump has claimed that he built the most outstanding US economy ever before the coronavirus pandemic. Although his claim is valid since it was a positive economic growth before the pandemic onset, the economic stimulation began during the Obama administration. However, there have been cases where the growth has been more robust under the Trump administration.
The Trump administration had been on a positive annual economic growth of 2.5%, which is higher than the last three years of Obama’s presidency. Still, the economy shrunk to about 30% with the onset of Covid-19. However, 1950 had an annual economic growth of up to 10% of GDP, which is significantly higher than under Trump. The author points at the rapid growth in the stock market, hitting an all-time high one month before the onset of Covid-19 and still showing resilience throughout the pandemic.
The author further suggests that Trump delivered the lowest unemployment rate of 3.5% over 50 years before the pandemic. Whereas the underpayment rate jumped high with pandemic onset, the rate is continually reducing a few months into the pandemic. The average annual wage increment significantly remained low under Trump compared to Obama’s presidency. In 2019 according to the author, Trump oversaw a record low poverty rate at 10.5%.