How have Americans fared financially under Trump?

President Donald Trump warned Thursday in a ...

Posted: Aug 24, 2018 9:41 AM
Updated: Aug 24, 2018 9:41 AM

President Donald Trump warned Thursday in a Fox News interview that "everybody would be very poor" if he were impeached.

But how are Americans doing since Trump took office a year and a half? Depends on who you are.

Certainly, the economy is doing well, and the unemployment rate has fallen to 3.9%. But the country has been growing jobs at a rapid clip for the last few years. The United States added 2.7 million jobs in 2015 and 2.3 million in 2016. It added 2.2 million last year and is doing even better so far this year.

This job growth has helped boost Americans' median income, which stood at $62,175 in June, according to Sentier Research. When Trump took office in January 2017, it was $59,672.

Income, however, grew robustly under the Obama administration, too. It recovered from a low of $54,643 in June of 2011, when unemployment was at 9.1%.

Household wealth is also on the upswing, but here is where the gains are less equal.

Americans' net worth was just over $100 trillion in the first quarter, according to Federal Reserve data. That's up 4.6% from the same period a year earlier.

Related: Trump says impeachment would crash the market. Really?

Much of that increase, however, was fueled by gains in the stock market. Americans saw the value of their equity holdings -- which includes investments in stocks, mutual funds and retirement accounts -- soar to $29.4 trillion in the first quarter of this year. That's up 8.1% from the same period in 2017.

But only roughly half of Americans invest. Some 55% of those surveyed by Gallup in April said they had money in the stock market.

Many of those folks are wealthy. The average value of stock holdings among the Top 10% was $1.4 million in 2016, according to the most recent Federal Reserve data. For those investors in the bottom 50%, it was $52,300.

Trump has frequently pointed to the stock market's gains during his administration as a sign of American prosperity.

In the Fox News interview, he implied the reverse would happen if he were removed from office.

"I think that if I ever got impeached, the market would crash," Trump said. "Everybody would be very poor."

Wall Street experts, however, said that while stocks might retreat, it's unlikely the market would crash.

For many Americans, their home is their biggest source of wealth. The total value of the nation's real estate, which is spread out among more Americans, grew more slowly during Trump's first year in office. It increased to $25.1 trillion in the first quarter of 2018, up 4.7% from the same period a year earlier.

CNNMoney's Matt Egan contributed to this report.

Minnesota Coronavirus Cases

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Reported Deaths: 7037
CountyCasesDeaths
Hennepin1133801672
Ramsey46957847
Dakota41493415
Anoka37550413
Washington24418273
Stearns20651216
St. Louis16500296
Scott15592116
Wright14440124
Olmsted1260496
Sherburne1031779
Carver956143
Clay769089
Rice7454101
Blue Earth682140
Kandiyohi621879
Crow Wing596486
Chisago539948
Otter Tail535173
Benton521396
Mower447732
Winona435749
Douglas434270
Goodhue431971
Nobles396848
Morrison386359
McLeod383254
Beltrami366957
Isanti363959
Itasca359451
Polk359466
Steele349714
Becker346548
Lyon343748
Carlton324352
Freeborn321729
Pine306521
Nicollet300742
Brown291239
Mille Lacs272548
Le Sueur266222
Todd265830
Cass243826
Meeker229337
Waseca227820
Martin209729
Wabasha19803
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Renville168543
Dodge16834
Redwood163935
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Kanabec126121
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Pope9936
Swift97718
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Clearwater75614
Koochiching75612
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Mahnomen4898
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Cook1440

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Cases: 355246

Reported Deaths: 5797
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Linn20170329
Scott18763234
Black Hawk15468306
Woodbury14792219
Johnson1387680
Dubuque13035202
Dallas1082796
Pottawattamie10627160
Story1024647
Warren549086
Clinton531989
Cerro Gordo519386
Webster506191
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Muscatine455096
Des Moines439365
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Jasper406670
Plymouth394179
Lee366855
Marion353975
Jones292355
Henry285537
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Carroll277750
Crawford261739
Boone256331
Benton249155
Washington248249
Dickinson238743
Mahaska223449
Jackson217242
Kossuth211561
Clay208625
Tama206371
Delaware201039
Winneshiek192633
Page189320
Buchanan187331
Cedar182723
Fayette182641
Wright178835
Hardin178742
Hamilton177049
Harrison174673
Clayton165455
Butler161834
Mills157520
Cherokee156438
Floyd154542
Lyon153641
Madison152219
Poweshiek152133
Allamakee149051
Iowa144824
Hancock142734
Winnebago135331
Grundy134732
Cass133954
Calhoun133011
Jefferson130535
Emmet127340
Shelby126637
Appanoose126247
Louisa126049
Sac125819
Mitchell125241
Union123732
Chickasaw122015
Humboldt117926
Guthrie116828
Franklin112421
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Howard102622
Unassigned10040
Montgomery99737
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Monroe93228
Ida88533
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Davis79824
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Lucas74822
Osceola73816
Worth7018
Taylor65012
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Ringgold53322
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