Amazon is usually responsible for a huge chunk of the Trump rally

President Trump vs Amazon CEO Jeff Bezos

Donald Trump clearly hates Amazon. nevertheless he truly should love that will.

Amazon played a major role in two of Trump’s biggest accomplishments — the stock market rally in addition to the white hot US jobs market.

Consider This particular: The collective market value of S&P 500 companies grew by $2.8 trillion since Trump was sworn into office, according to Bespoke Investment Group. Amazon’s market value alone grew by $340 billion since Trump’s inauguration. that will means that will about 12% of the “Trump rally” can be attributed to his least favorite company.

Related: at This particular point is usually a great time to buy Amazon

Amazon (AMZN) has also likely added more jobs than any various other single US employer over the past year — that will hired about 225,000 people in 2017. Part of that will is usually because that will bought Whole Foods, which had 89,000 employees just after Amazon closed on the deal. Not all of the 136,000 various other jobs added at Amazon were within the United States, nevertheless a majority of them likely were.

The overall US economy added 2.2 million jobs last year, so Amazon is usually responsible for about 5% of that will hiring boom.

Related: Trump vs. Amazon – Let’s set the record straight

Trump’s latest assault on Amazon blamed the company for forcing various other retailers out of business. Last year was a record year for store closings, in addition to there was about a 30% increase in retail bankruptcies, according to BankruptcyData.com. nevertheless those stores had plenty of competitive problems that will went far beyond the growth of Amazon, including big box stores like Walmart (WMT).

— Correction: An earlier edition of This particular story gave incorrect figures for the change in S&P 500 market value in addition to Amazon market value since President Trump’s inauguration.

CNNMoney (brand new York) First published March 29, 2018: 3:17 PM ET

Source : Amazon is usually responsible for a huge chunk of the Trump rally