WASHINGTON | For a U.S. economic expansion now entering its 10th year, hiring remains strong, growth has picked up and the outlook is a mostly positive one on the eve of congressional elections.
On Friday, the government reported that employers added 250,000 jobs in October and that the unemployment rate remained 3.7 percent, the lowest level in nearly 50 years. Pay also rose at a consistent pace. Consumers are confident, spending freely, fueling brisk economic growth and encouraging employers to keep hiring.
“Unemployment at 3.7%. Wages UP!” President Donald Trump tweeted Friday morning. “These are incredible numbers. Keep it going, Vote Republican!”
Yet one surprising element of the midterm campaign season has been how little the sunny economic picture appears to be benefiting the administration and Republican congressional candidates. Polls show that while voters broadly approve of the economy, they give low ratings to Trump himself. Many appear motivated by non-economic factors. And nationally, voters prefer Democrats to Republicans in elections for the House, according to surveys of voters’ generic preferences.