Vice President Pence took to twitter to praise the economic progress being made as President Trump continues to hammer the Federal Reserve over hiking interest rates.
“The average household has seen their income go up by more than $5,000, wages are rising at their fastest pace in an almost decade—and, most important, they’re rising fastest for our blue-collar workers. Our economy is thriving and Americans are winning! 🇺🇸” the VP tweeted.
“Under @POTUS’ leadership, the auto industry is roaring back in MI! This year alone, GM announced it will add 400 jobs, Ford has announced it will create 900 new jobs & Fiat-Chrysler is already building a $1.6B new assembly plant that will create 6,400 jobs in the Motor City!” He added.
No other recent reports have corroborated this, however CNBC ran a report last year indicating that household incomes have gone up every year since the 2016 election with the US median household income climbs to new high of $61,372
Median household income rose 1.8 percent in 2017, according to the U.S. Census Bureau.At the same time, the poverty rate fell for the third consecutive year.
The latest data boosts an already positive outlook for the U.S. middle class, with the number of job openings reaching a record high of almost 7 million in July.
The poverty rate also fell for the third consecutive year. In 2017, the official poverty rate was 12.3 percent, down from 12.7 percent in 2016.
The number of people who did not have health insurance – 28.5 million, or 8.8 percent, in 2017 – did not change significantly from 2016, according to the Census Bureau.