Economy

San Diego Unemployment Rate Dips as National Economy Remains Strong

Written by Michael Palomba

San Diego County’s unemployment has dropped to 2.8%, significantly lower than the 3.4% national unemployment rate. 

An estimated 2,500 jobs in non-farm industries were created in November. Farming jobs fell by 600 from 8,700 in November to 8,100 in December. This is the third month in a row that the county’s unemployment rate was below 3%.

All this great news, however, hasn’t stopped alarmism from Democrats who claim that only the rich are benefiting from the booming economy. 

Sen. and presidential candidate Elizabeth Warren’s (D-MA) website claims that we need to “build an economy that works for everyone” and she has claimed on multiple occasions that the economy is only working for “the wealthy and well-connected.” 

In response to a tweet about the Dow soaring past 29,000, Rep. Alexandria Ocasio-Cortez (D-NY) tweeted:

At a Pittsburgh Union workers rally, former Vice President Joe Biden falsely claimed “there was a $2 trillion tax cut last year. Did you feel it? Did you get anything from it? Of course not…All of it went to folks at the top and corporations.”

House Speaker Nancy Pelosi (D-CA) asserted, with no evidence, “Unfortunately, the evidence shows that most of the economic gains continue to benefit those already well off” in response to an extraordinary jobs report for April 2019.

Sen. Bernie Sanders (I-VT) falsely claimed that 83% of the benefits from GOP tax cuts went to the top 1%. Surprisingly, the claim was deemed false by none other than CNN, which said, “This isn’t true right now, but if certain tax cuts are not extended, it will be the case in 2027.”

It’s incredible that Democrats across the country, including all of the presidential front runners, are fear-mongering about what is considered to be one of the greatest economic states in history. 

Unfortunately, it’s really no surprise. Democrats are desperate to win the 2020 election, and they have shown that they will do whatever is necessary to win—which is very evident by the partisan impeachment they are currently pursuing.

Luckily, Americans are smart and Democrats’ smoke and mirror show isn’t working.

Data show the consumer confidence levels under the Trump administration have hit new highs. Furthermore, 2019’s Black Friday and Cyber Monday sales hit record breaking highs. Sales for the 2019 Holiday season rose 3.4% to $723 billion.

Fox business recently published an article, Trump 2020 win could turbocharge US economy: Wall Street, in which they highlight, “a record 127 consecutive months of expansion and an unemployment rate at a 50-year low of 3.5 percent” The author goes on to say, “the economy has been bolstered by Trump’s Tax Cuts and Jobs Act, which lowered the top corporate rate from 35 percent to 21 percent and reduced personal income taxes for many Americans.”

Despite apocolyptic predictions from Democrats regarding our local and national economy, we’re doing just fine. Better than fine, in fact.