KEY POINTS

  • The GOP should be "plastering absolutely everywhere" a chart comparing unemployment from Reagan to Trump, says Deirdre Bolton
  • "It appears the Trump era has been reducing (income inequality)," claims James Freeman
  • Charles Payne said blue collar wages "have grown faster than their supervisors"

Supporters of president Donald Trump are trying to make the case the steadily falling U.S. unemployment rate should be reason enough for Trump to be reelected on November 3.

Hosts at Fox Nation's "Deep Dive" on Thursday tried to make the most out of the statistic the average U.S. unemployment rate is the lowest in recorded history under Trump. Deirdre Bolton, who once hosted the business show, "Risk & Reward," on Fox Business Network, exclaimed Trump's re-election campaign should be "plastering absolutely everywhere" a bar chart showing the average unemployment rate in the first 35 months of each president's first term going back five decades, or from Ronald Reagan to Trump.

The simplistic chart shows the unemployment rate under Reagan at 9 percent; George H.W. Bush at 5.9 percent; Bill Clinton at 6.2 percent; George W. Bush at 5.5 percent; Barack Obama at 9.3 percent and Trump at 3.9 percent.

Taken without context, the chart cited by Bolton looks good for Trump on its face. Bolton didn't bother to point out, however, Obama had to contend with a sharp economic downturn caused by the Great Recession during his first four years in office starting 2008. That explains the 9.3 percent unemployment rate for Obama's first three years.

Neither did Bolton mention it was Obama's decisions and economic policies that saved the U.S. from the Great Recession, and put it squarely on the strong economic growth path leading directly led to the 3.9 percent unemployment rate under Trump.

Other panelists cited rising wages as a good reason for Trump's re-election. Tied to the low unemployment rate, rising wages are a huge challenge for Democrats in November, contends the "Deep Dive" panel.

"Workers' wages have lately been rising faster than the salaries of their bosses. It pretty much knocks out the inequality argument," said James Freeman, an assistant editor for the The Wall Street Journal. "It appears the Trump era has been reducing (income inequality).

It's because of this that the Democrats need a new economic message, argues Freeman.

"They're basically giving the same talking points from 2015 and 2016, when we talk about the average person's wages are stagnating and the middle class doesn't have the same opportunity."

News anchor Charles Payne entered the discussion, saying the first time this happened was September 2018. Payne also pointed out a dynamic between workers' and supervisors' wages.

"And it's happened every single month, except one, were blue-collar workers', not supervisory workers', wages have grown faster than their supervisors'. It's amazing," according to Payne.

US monthly unemployment since Jan 2017 US monthly unemployment since Jan 2017 Photo: AFP / STF