This morning President Trump decided to take credit for something that hasn’t happened in over 100 years when he tweeted: “The GDP Rate (4.2%) is higher than the Unemployment Rate (3.9%) for the first time in over 100 years!”
The only problem with Trump’s tweet, however, is that it is entirely false. In actuality it is an outrageous and ridiculous lie.
Not only has the U.S. economy seen the GDP rate surpass the unemployment rate in the past, but it has actually happened 21 times in the past 89 years since the Bureau of Labor Statistics began measuring the U.S. unemployment rate.
Since 1929, the GDP rate has been higher than the Unemployment during the following years: 1941-1944, 1948, 1950-1953, 1955, 1959, 1962, 1964-1966, 1968, 1972-1973, 1998-2000.
Additionally, Fox News Research has found that there have been 63 quarters since 1948 that have seen GDP growth rate surpass the quarterly unemployment rate.
Since 1948, there have been 63 quarters with a GDP growth rate higher than avg quarterly unemployment rate
Recent Quarters with GDP Growth higher than Unemployment Rate:
•Q2 1996 https://t.co/xc873PMf6KSee Also
— Fox News Research (@FoxNewsResearch) September 10, 2018
This isn’t the first time that President Trump has lied about the U.S. Economy. He has claimed on numerous occasions that the economy “has never been better”, when in fact it has been better many times in the past.