Wall Street's close on August 1, 2018. Photo: Bryan R. Smith/AFP/Getty Images
"Americans’ perceptions of the economy’s prospects increasingly depend more on their political identity than statistics on output or stock markets," points out Patricia Cohen, who covers the national economy for the N.Y. Times:
Why it matters: "The same gauges that illustrate this administration’s economic successes also make clear that they are built on the achievements of the previous one, and that the economy is following the upward trajectory begun under President Barack Obama."
- "In the 18 months before Mr. Trump moved into the White House, 3.7 million jobs were created, seven in 10 Americans said they were doing fine or living comfortably and the economy grew."
- "In the 18 months since, 3.4 million jobs were created, seven in 10 Americans said they were doing fine or living comfortably and the economy grew."
Be smart: "Stubbornly slow wage growth and wide income gaps have spanned both periods."