President Donald Trump's deregulation and tax cut policies have given him a reason to celebrate this new year with his administration's economic achievements, including the stock markets hitting record highs with the Dow Jones Industrial Average jumping past 25,000 for the first time ever.
Here are his top five triumphs.
1) Stock Market Surpasses 25,000 for First Time
The Dow Jones passed the 25,000 mark Thursday thanks to faster economic growth around the globe and improving sentiment from consumers and businesses, The Wall Street Journal reported.
"The turn of the calendar year doesn't change the dynamics of economic growth and earnings growth," Kate Warne, investment strategist at retail brokerage Edward Jones, was quoted as saying. "We shouldn't be surprised that markets continue to move higher because fundamentals continue to be positive and investor optimism is actually improving rather than investors becoming more cautious."
On Wednesday night, Trump tweeted, "Stock Market had another good day, but now that the Tax Cut Bill has passed, we have tremendous upward potential. Dow just short of 25,000, a number that few thought would be possible this soon into my administration!"
2) Lowest Number of Layoffs Since 1990
Also on Thursday, global outplacement consultancy Challenger, Gray & Christmas reported that U.S. employers' plan to cut only 32,423 jobs in December brought the year's total to the lowest figure since 1990.
"The tight labor market, coupled with uncertainty surrounding healthcare and tax legislation, possibly kept employers from making any long-term staffing decisions this year," CNBC quoted CEO John Challenger as saying in a statement. "However, 2018 may see an increase in job cut announcements, as companies realign with consumer demand."
The tax bill has led to unprecedented hiring plans for 2018, as employers plans to hire more than 1.1 million near hires, 27 percent more than last year.
"While companies in the pharmaceutical, healthcare, construction, and food industries did announce more job cuts than last year, it was nothing like the energy cuts seen in the last two years or the financial cuts seen during the recession," Challenger added.
3) 250,000 Jobs Added in December
ADP and Moody's Analytics said this week that companies hired 250,000 new workers to close out the year, well above Wall Street expectations of 190,000, according to CNBC.
Last year's private payroll growth stood at 2.54 million, an average of 212,000 a month.
"The job market ended the year strongly," Moody's chief economist Mark Zandi said in a statement. "Robust Christmas sales prompted retailers and delivery services to add to their payrolls. The tight labor market will get even tighter, raising the specter that it will overheat."
Economists expect that the U.S. economy added about 189,000 jobs in December.
4) Food Stamps Down by 2 Million
According to U.S. Department of Agriculture data, the number of participants in the Supplemental Nutrition Assistance Program, also known as food stamps, dropped to 42.1 million for fiscal 2017, which is a decline of 2 million from the fiscal 2016 total of 44.2 million, as reported by Fox News.
The program went from costing taxpayers about $250 million for about 2.8 million recipients in 1969, under President Richard Nixon, to nearly $80 billion for roughly 48 million recipients in 2013, under President Barack Obama, according to USDA figures.
President Trump has indicated that eligibility rules for SNAP need to be tightened and states should be asked to contribute matching funds for the program to continue to reduce the number of recipients, according to Governing.com.
5) Black Unemployment at Lowest Since 1970s
The Bureau of Labor Statistics shows that unemployment rate for black workers was 6.8 percent in December, the lowest since the early 1970s, when the government started tracking data, according to CNBC.
In the 45 years the data has been tracked, the unemployment rate for African-American workers aged 16 years and older has remained above 7 percent.
The unemployment rate for white workers was 3.7 percent in December.
Writing for Daily Independent, Stephen Moore, a senior fellow in economics at the Heritage Foundation, noted that House Minority Leader Nancy Pelosi had said Trump's policies would cause "Armageddon" for family finances, the American economy and the stock market.
"Trump's critics, so far almost all have been dead wrong," Moore remarked.
In October 2016, The Washington Post wrote an editorial, titled, "A President Trump Could Destroy the World Economy."
Moore wrote that the left now needs "to engage in logical contortions to explain how the red-hot American economy is really a result of Obama policies — every which one Trump has systematically been dismantling."
The author pointed out that anyone who sold stock "on the basis of predictions by liberal 'experts' such as Larry Summers, Paul Krugman and Steve Rattner missed out on a 30 percent-plus surge in their financial wealth." He then asked readers, "Would you take financial advice from these people?"