Despite rapid growth in wages, Trump should be concerned | Larry Elliott

This is as good as it gets for the president's first term - labour shortages will fuel interest rates

The US has its lowest unemployment rate since Richard Nixon was in the White House 48 years ago. Wages are growing at their fastest rate in almost a decade. No other G7 country will come close to matching America's growth rate this year.

All of which ought to be a concern for Donald Trump. If that sounds weird, consider the facts. When running against Hillary Clinton in 2016, Trump said he would put the world's biggest economy back to work and so far he is doing so. He said he would repudiate or rewrite the "horrible" trade agreements his predecessors entered into and he has been as good as his word. The promise in his inauguration speech to put "America first" has been met in full.

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