Council of Economic Advisers

.@RealDonaldTrump cited our state inflation data in the SOTU last night, highlighting how record-setting inflation cost the typical family $34,000 under Democrats. Our latest analysis shows families paid $700 less in price increases during his first year than Biden’s.

Construction employment in specialty trades rose by 25K in January, the highest monthly change since 2020

Prime-age labor force participation rose to its highest level since 2001 as more Americans are coming off the sidelines. Average hourly earnings rose 3.7% in President Trump’s first year in office while average weekly earnings 4.3%

🚨Jobs Day Data Dump🚨

The President’s efforts to bring drug prices down continue to be successful. Prescription drug prices are down -0.5% since the President took office after rising 4.5% in Biden’s last year.

Cars have become more affordable under President Trump. Prices are down -0.4% over the month and -0.5% since the President took office.

🚨December CPI🚨

"You know where red tape is most egregious?... Blue states where no one can build," says Acting @CEA47 Chair @YaredPierre on housing. "Blue states... are riddled by red tape and bureaucrats that are preventing construction." President Trump is committed to fixing it.

Earnings growth continues to boom under President Trump. Average private sector weekly earnings are on track to rise by 4.0% in President Trump’s first full year in office.

President Trump has added 654K private sector jobs since taking office. All of the net job growth in the Trump administration is native born employment and in the private sector, unlike in the Biden administration.

🚨December Employment Data🚨

This report shows that President Trump’s trade policies are helping to drive an export boom. Net exports rose at an 8.8% seasonally adjusted annualized rate in Q3.

Consumers are showing their confidence in the economy with their strong spending, which rose at a 3.5% seasonally adjusted annualized rate in Q3.

🚨Q3 GDP🚨