As Donald Trump heads into his third year as president, he’s preparing to deliver his second State of the Union address on the heels of a year riddled by market volatility, a bipartisan funding feud and a tit-for-tat trade battle with China.
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In the nearly one-year period since Trump declared the State of the Union “strong,” he’s touted the strength of the economy, job creation and a record-low unemployment rate, even as jitters about slowing global growth emerge.
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FOX Business takes an in-depth look at how the economy has fared since the last State of the Union speech — and before Trump offers his own assessment Tuesday night.
Stock market: As of Monday’s close, the Dow Jones Industrial Average is down 3.2 percent from when he gave his last State of the Union address on Jan. 30. The Dow closed at 26,076.89 on that day, compared to 25,239.37 on Monday. That same year, the Dow set 71 new records at the closing bell, making it the best one-year performance for the blue-chip index.
Trump took a moment last week, however, to applaud the Dow, which just had the strongest performance in more than 30 years.
The broader S&P 500 — which also mounted a record run during Trump’s first year in office — fell about 3.5 percent during his second year, while the tech-heavy Nasdaq Composite fell about 0.7 percent.
Unemployment: Fewer people are actively seeking employment compared to the year-ago period. In January of 2018, the unemployment rate was at 4.1 percent — at the time, it was the lowest rate in more than 17 years.
Over the course of the year, unemployment ticked down slightly to 3.7 percent, the lowest rate in nearly five decades. It remained