It's been (he wrote, belaboring the obvious) 100 days of the second Trump administration, and this is traditionally one of those inflection points where a new administration stops, takes a breath, and issues some statements counting coup on their early successes.

The Trump administration is certainly doing so; an email sent out by the White House on Tuesday is touting the economic successes of the president's first 100 days. Some key highlights include:

Jobs Statistics:

• President Trump has created 345,000 jobs since taking office in January. 
  • 188,000 (54%) of these were in non-government and government-adjacent sectors. This is a dramatic improvement from the last two years of the Biden Administration, when three-fourths of all new jobs were in government or government-adjacent sectors. 
    • 2,000 of which were mining and logging jobs.
    • 27,000 of which were construction jobs.
    • 9,000 manufacturing jobs were created (compared to the 6,000 manufacturing jobs lost per month from Jan 2023 to Dec 2024).
  • At the same time that there were large private sector job gains, 15,000 federal government jobs were cut.

The key takeaway here is the sectors in which these new jobs are coming in. During the Biden administration, many of the job gains that administration so breathlessly announced were government jobs, and many were also just a resurgence from the COVID-19 lockdowns. Mining, logging, and manufacturing jobs are the key gains now, and of course, there is the satisfying cutting of federal jobs, which we can categorize as a "good start."

Inflation Statistics: 

• Prescription drug prices are down over 2% since President Trump took office. 
• Last month’s drop in the price of prescription drugs was the largest ever recorded.
• Gasoline prices, as measured by the Consumer Price Index (CPI), are down 7% since President Trump took office.
• Energy prices are down 2% since President Trump took office.
• Wholesale egg prices down are about 50% since President Trump took office. Most consumers have seen relief in prices on the shelf, but all consumers should see it within the next month or two.
• February inflation (the month prior to the most recent data) showed the smallest annual increase in core inflation in over four years (since March 2021).

Gasoline prices have a seasonal element, and it will be interesting to see what happens with them when the summer vacation season starts. But, while eggs have been a benchmark, energy prices overall are the key driver here; everything in the nation's economy, every economic transaction made by every person and every organization, is downstream from energy cost. The best and fastest way to ensure a robust economy is to keep energy prices down. Also, inflation ticking downwards is good, but there is still the issue of government spending; the DOGE is making efforts to rein in the most egregious stupidity, but the swamp intends to fight them every step of the way.

See Also: Tuesday Morning Minute: 100 Days

During Trump's First 100 Days, Veterans Come First

The administration also described successes in some other areas:

Miscellaneous Positive Economic Statistics: 

• Real average hourly earnings for middle- and low-income workers are up 0.4% and up 1% for workers in the manufacturing sector since President Trump took office.
• The automotive sector is growing: under President Trump, we already had the biggest one-month increase in auto sales in March in more than a year.
• Mortgage rates have declined roughly four-tenths of a percentage point since President Trump took office.

The key here is mortgage rates. Being able to afford a home is a big part of the American dream, and too many young people now can't afford even a starter home. That has to change; mortgage interest rates dropping will help, but states and municipalities have to chip in with reduced permitting fees, faster turnaround, relaxed zoning, and decreased regulation.

Finally, in a separate email, the White House also announced some successes in increased investment in American industry:

President Donald J. Trump has secured over $5 trillion in new U.S.-based investments in his first 100 days, which will create more than 451,000 new jobs as he sets the stage for a new era of American prosperity. From advanced manufacturing to cutting-edge artificial intelligence infrastructure, these historic investments — spurred by President Trump’s unwavering commitment to revitalizing American industry — will reinforce the U.S. as the global leader in innovation and economic growth.

The key here is manufacturing. America must become once more a nation that makes things. We've tried the "service economy," and the primary output of that is that it's made us dependent on nations that aren't very fond of us, like China.

It's been an interesting first 100 days. There are 1363 left to go, and it's a safe bet that they will be as eventful as the first 100.

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