(Voiced by: Kenny Chang)
Last Thursday, I had the honor of attending the White House Economic Summit at Washington D.C. We had the opportunity to see First Daughter, Ivanka Trump, Director of the National Economic Council, Larry Kudlow, Director of the Office of Management and Budget, Mick Mulvaney, United States Secretary of the Treasury, Steven Mnuchin, officials from the Small Business Administration, as well as many small business owners.
A main topic of discussion included the tax reform and deregulation. Larry Kudlow elaborated on how a healthy economy can make the United States a better country—giving us an optimistic and positive outlook for the future. He mentioned, “…consumer confidence continues to soar to the highest level in 20 years. Small business confidence recently achieved its highest mark in 35 years.”
He also touched on unemployment rates in the United States: “Overall unemployment has dropped to 3.9% as 4 million new jobs have been added to the economy since the election. In 2018, many minority groups achieved record low unemployment rates: the African American unemployment rate hit an all-time low of 5.9% in May, the Asian unemployment rate hit an all-time low of 2.1% in May, and the Hispanic unemployment rate hit an all-time low of 4.5% in July. Women’s unemployment rate recently reached a 65-year low. Youth unemployment rate recently hit a 48-year low. Poverty rates are falling. Median incomes are rising. Since the election, nearly 400,000 new manufacturing jobs have been created.”
With Kudlow so optimistic about the potential the United States can reach, I left with a lasting impression that our country has a promising future and a lot to look forward to. Here’s to staying hopeful for 2019!