The latest report from the nonpartisan Conference Board confirms what working families already know: Trump’s economic agenda is hurting the middle class while Wall Street skates by.
In August, the U.S. Leading Economic Index (LEI) collapsed 0.5%, the largest decline since April, wiping out July’s modest uptick and signaling a slowdown that hits ordinary households hardest. Over the last six months, the LEI is down 2.8%, a clear signal of broad economic weakening.
The Conference Board directly cites Trump’s tariffs as a major drag on growth, noting they already cut into the first half of 2025 and will continue slowing the economy through 2026.
What Trump’s economy looks like for working class families:
- Rising unemployment claims: more Americans are losing work.
- Fewer hours for manufacturing workers: paychecks are shrinking.
- Weak new orders: factories are slowing production, threatening jobs.
- Sinking consumer confidence: families know they’re falling behind.
The only things keeping the economy from deteriorating even more quickly are the very wealthy investors in trading markets that Trump caters to. At the same time, families face higher costs and fewer opportunities.
“This report makes it clear: Trump’s economic policies aren’t working for American families. Paychecks are shrinking, job security is vanishing, and the cost of living keeps climbing,” said American Bridge 21st Century spokesman Brandon Weathersby. “At the same time that Trump gets a luxury jet, entertains on a new White House patio, and pours millions into a new White House ballroom – he’s gaslighting working households about the state of the economy, but data doesn’t lie, and neither do families’ bank accounts.”
Published: Sep 18, 2025