President Donald Trump’s second term is off to a fast-paced economic start, with a new memo from the White House touting significant gains in job creation, cooling inflation, and sweeping regulatory rollbacks.
Released by the Council of Economic Advisers, the internal report outlines the administration’s performance over the first 100 days and signals a sharp contrast with the economic trends of the Biden years.
According to the memo, more than 345,000 jobs have been added since January, with the majority—188,000—coming from private and semi-private sectors rather than government payrolls.
Key industries like mining, construction, and manufacturing saw net growth, including 9,000 new manufacturing jobs, reversing what had been a steady monthly decline under the previous administration.
Meanwhile, the federal government shed 15,000 jobs as Trump moved aggressively to reduce bureaucracy and return federal workers to physical offices.
Veterans and workers without a high school diploma saw encouraging signs as well. The veteran unemployment rate dropped to 3.8%, while labor force participation among less-educated Americans increased by 0.7%.
In March alone, 228,000 new jobs were created, marking one of the best private sector months in the past two years.
The Trump administration also reports that real earnings for middle- and low-income workers are rising, with hourly wages up 0.4% and 1% respectively.
In the automotive sector, March saw the biggest one-month surge in auto sales in over a year, a trend that coincides with new 25% tariffs on imported cars and parts, measures intended to bolster domestic manufacturing.
Inflation has been another focal point for the administration.
The White House notes that prescription drug prices are down over 2% since January, with March recording the largest monthly drop ever recorded.
Gasoline prices fell 7% in the same period, while energy prices dropped 2%.
A particularly sharp decline was seen in wholesale egg prices, down about 50% since the start of the year. Though retail prices remain elevated, averaging $6.23 per dozen in March, Trump officials say consumer relief should follow shortly.
According to the Bureau of Labor Statistics and reporting from Fox News, the overall Consumer Price Index (CPI) declined by 0.1% in March, and inflation for February showed the smallest annual increase in core inflation in over four years.
Used cars, motor insurance, and airfare all saw price decreases, while rent and meat costs rose only slightly. Analysts say that cumulative inflation during Trump’s first three months in office amounts to just 0.17%, far lower than the persistent spikes seen in the final months of Biden’s presidency.
The administration also claims major victories on the regulatory front. Trump blocked all unfinalized Biden-era rules upon taking office, a move expected to save Americans $180 billion, or $2,100 per family of four over the next decade. He also reinstated a deregulatory policy that eliminates 10 rules for every new one added. This includes rollbacks on EPA tailpipe emissions and DOT fuel economy standards, projected to save $755 billion combined.
Since Trump returned to the Oval Office, at least $5 trillion in new investments have been pledged by private firms and foreign governments.
Industrial production in March reached one of the highest levels on record, surpassed only by Trump-era peaks in 2018 and February of this year.
With tangible momentum across jobs, inflation, and regulation, the first 100 days of President Trump’s second term are shaping up to be a centerpiece of his administration’s economic narrative.