Don’t take the credit – the gains are not real!

The US has created lots of jobs since President Tump was elected.  I am sure he will take the credit – and bask in the reflected glory.

President Trump should be careful, though.  America’s productivity is not rising.  Any wage rises will be at the expense of inflation.  In a year’s time, we may have a better guide to the success of his policies – for now, those in work will be pleased… but may find their wage being eroded.

Short-term gains are often illusory.


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