(ThyBlackMan.com) When former president Bill Clinton said, “It is the economy stupid,” in his defeat of former president George H. W. Bush, the nation’s unemployment rate stood at 7.8%. The Bureau of Labor Statistics (BLS) reported March’s most comprehensive unemployment rate, the U-6 category rate, from the Table of Alternative Measures of Labor Underutilization is now, 8.0%, while President Donald Trump’s official unemployment rate, the U-3 category rate clocked in at 4.3%, almost half of the most accurate unemployment rate.
When President Donald Trump looks at the economy he has created, he has to feel things are not looking, so good. In a perfect world the Federal Reserve would do its job, and crush inflation, by raising interest rates. That would resolve the issue of affordability. After that success, solutions, which voters could embrace, when it comes to creating millions of Jobs, and growing the economy, would be proposed and enacted.
The problems of solving economic immigration, Job scarcity, inflation, affordability and economic growth would be addressed forthrightly, which is what Americans, American workers, professional, blue collar, union, and working-class Americans want. Believe it or not, Americans and working-class American voters, shifted their votes from Democrats, electing Donald Trump to the presidency, to resolve these very issues. He has failed!
Regardless of what Democratic party leaders say, regardless of their current efforts to save domestic programs, in 1994, when the Clinton administration embarked upon the policy of underreporting/undercounting the nation’s unemployment rates, which is still active to this very day, Democrats as a party deserted working-class Americans, which ultimately led to the election of President Donald J. Trump. Their abandonment through underreporting/undercounting the nation’s unemployment rates was clearly illustrated through the Biden administration’s policy, when it came to economic immigrants.
Former president Joe Biden, during his term in office crisscrossed America, as he opened the nation’s borders to millions of economic immigrants, wrongly saying, in his promotion of the U-3 category rate as the most comprehensive unemployment rate, “And [un]employment has been the lowest — been below 4 percent for the longest stretch in 50 years.” The U-3 category unemployment rate at that time was 3.9%. Of course, the U-3 category rate was not the most accurate description of our unemployment situation, which is the point being made here. As economic immigrants crossed the border, they competed for whatever Jobs were available, and this distressed American workers.
When the unemployment rates were adjusted in 1994, economists at the time clearly indicated without any ambiguity, the U-6 category rate of unemployment was the most accurate, and comprehensive rate of unemployment. The U-6 category rate for March is 8.0%, which makes the African American unemployment rate, which averages 2.7% higher, 10.7% for March. That 10.7% rate means out of every 100 black workers, 11 Black American workers cannot find a full-time Job that pays a living wage, as these workers understand what a living wage means.
And out of every 100 workers at large, when it comes to the American labor force of 170 million workers, 8 out of every 100 cannot find a full time Job which pays a living wage in President Trump’s poor economy. Don’t take my word for this when it comes to what economists have stated, as the most comprehensive rate of unemployment, read the article for yourself on page 24 at the following link, https://www.bls.gov/opub/mlr/1995/10/art3full.pdf.
The above is an article in the Monthly Labor Review, a journal established in 1915, and known as the principal journal of the BLS. In the October 1995 issue, John E. Bregger, a retired Assistant Commissioner for Current Employment Analysis, and Steven E. Haugen, an economist, at the time, in the Division of Labor Force Statistics, Bureau of Labor Statistics commented on the adjustments done to the employment rates in 1994 under the Clinton administration. They wanted us to know their conclusion, when it came to, what is the most accurate and comprehensive unemployment rate, which of course is the U-6 category rate, which is 8.0% for the month of March and not Trump’s 4.3%.
Additionally, no matter what politicians promote as the most comprehensive rate which is what President Donald Trump is doing, working-class Americans know and feel how the economy affects them because they are living in it. Come November, no matter what Trump and Republicans say, if their policies don’t result in creating enough good Jobs consistently, they will be turned out of office.
However, working-class voters have been doing this, shifting from the Republican party to the Democratic party and back to the Republican party, and back to the Democratic party, in an effort to get something definitively done when it comes to long-term Job creation. So, with Trump they got economic immigration halted, but there has been nothing done about underreporting/undercounting the nation’s unemployment rates and a long-term economic policy to create Jobs.
It is not, as if politicians, like former presidents Clinton, Bush, Obama, Biden and now Trump do not know and understand the demands of working-class Americans when it comes to long-term Job creation, they actually mention in their promotions of their policies, the concerns of working-class Americans.
Arrogantly, Trump referenced the demands of working-class people in his promotion of his $3.4 Trillion 10-year Tax Cut to the upper Top 10%-20%, billionaires, millionaires and corporations. He calls his tax cut to this group of consumers, the One Big Beautiful Bill or the OBBB. Here is what President Donald Trump said or was stated on the White House site on June 24th , 2025, where the “One Big Beautiful Bill,” Trump’s tax cut proposal was promoted: “The One Big Beautiful Bill delivers for the American worker: The One Big Beautiful Bill delivers the largest tax cut for working-and middle-class Americans in history. Put simply President Trump’s One Big Beautiful Bill will unleash our economy and deliver a Blue-Collar Boom.”
Notice, what Trump said, “the largest tax cut for working-and middle-class Americans in history. And then there is a reference to unleashing our economy and delivering “a Blue-Collar Boom.” In delivering the largest tax cut for working-and middle-class Americans in history, which of course did not amount to enough capital to affect Job creation in our $20 trillion economy, he delivered a gargantuan tax cut to the Top 10%-20% of Americans. So much so, that we as a nation are now living in a 10-year Top 10%-20% Consumer Tax Cut driven economy.
However, there is no Blue-Collar Boom when it comes to Jobs. Nevertheless, Mr. Trump and Republicans knew that is, what working-class people wanted to hear mentioned. So, it’s a demonstration of politicians, like Trump and others who know the demands of working-class people, and they tease them, with slogans, but do not deliver. So American voters, American workers, professional, blue collar, union, and working-class Americans, have nowhere to go, but back to Democrats, to seek a long-term solution to Job creation.
Trump and Democratic leadership know economic growth does not come from trickle-down revenue due to huge Tax Cuts to billionaires, millionaires, and corporations. It comes from the Bottom 70%-80% of Consumers with disposable income to spend on products and services. When the Bottom 70%-80% spend money on products and services, Job growth rises leading to an economy that lifts all boats at the same time. The Covid 19 recovery illustrates this, go to TheFixThisTime.com for factual data that shows this.
We, and even billionaires and millionaires know Tax Cuts to the Top 10%-20% do not create Jobs at the rate the economy needs because, as stated above we are actually living in a 10-year Top 10%-20% Consumer Tax Cut Driven economy, and it is not working for the majority of Americans. The April Bureau of Labor Statistics showed 178,000 Jobs were created in March, however when you average Job creation out over the last 3 months in Trump’s erratic economy, we get a different story. January saw 160,000: February saw no Jobs created, as a matter of fact, there was 133,000 Jobs lost. Thus, the average number of Jobs created over the last 3 months is 68,000; woefully inadequate when you consider the nation has a 170 million labor force.
The solution to the nation’s Jobs, and growth problem is to move immediately away from a 10-year, Top 10%-20% Consumer Driven Economy to a Bottom 10% 10- year $25,000 70%-80% Boomer Consumer Driven Economy, where you are going to get 4 times the spending on products, and services through a larger group of some 62 million consumers. The bottom 70%-80% spending will also be on a wider array of products and services, whereas the top 10%-20% usually spend tax cut money on real estate and in the investment markets.
Staff Writer; James Davis
Mr. Davis is a Financial Analyst. His articles are about relating facts in a usable, truthful, and understandable way. That way, WE ALL WIN. James is, the author of three books, among them, “The Fix This Time,” Boost Your Retirement Income! Simultaneously Create Jobs and Spur Economic Growth (https://www.amazon.com/dp/B00MI3PD2M). Reach out to James @ his blog https://thefixthistime.com.
Question? Comment? One may use this email address; MrDavis@ThyBlackMan.com.
