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Verification of the facts of the day
This has occurred at least 185 times over the last century.
The GDP rate (4.2%) is higher than the unemployment rate (3.9%) for the first time in more than 100 years!
– Donald J. Trump (@realDonaldTrump) September 10, 2018
facts
False.
Gross domestic product grew at an annualized rate of 4.2% in the second quarter of 2018, and the unemployment rate was 3.9% in April, 3.8% in May and 4.0% in June .
But Mr. Trump is wrong that G.D.P. growth has not been higher than the unemployment rate of the last century. In fact, this has happened in 185 months since 1948, according to data from the Federal Reserve Bank of St. Louis.
More recently, in the first quarter of 2006, gross domestic product grew by 5.4%, while the unemployment rate was 4.7% in January, 4.8% in February and 4.7% in March. .
The largest positive difference between the growth rate of quarterly gross domestic product and unemployment occurred in September 1950. At that time, the US unemployment rate was 4.4% and gross domestic product increased 16 points in the third quarter. .
Kevin Hassett, chairman of the Council of Economic Advisers, acknowledged at a press conference Monday that Trump's tweet was not accurate.
"What's true is that it's the highest in 10 years. At one point, someone probably passed it on, adding a zero to that, and they should not have done it, "said Mr. Hassett.
Linda Qiu is a reporter in Washington. She arrived at the Times in 2017 from the PolitiFact fact-checking service. @ylindaqiu
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