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‘America Is Hot’: Job Growth Again Beats Expectations
Job growth for the month of May again beat expectations as 139,000 jobs were added to the American economy, and the unemployment rate remained steady, according to the latest report from the Bureau of Labor Statistics.
The report, released Friday, found that the private sector continued to add jobs while government employment declined. The unemployment rate did not change from April, remaining at 4.2%.
White House Press Secretary Karoline Leavitt celebrated the news, saying it reflected President Donald Trump’s successful economic policies.
“President Trump’s America First Economic Agenda has created a BOOMING economy — jobs are up, unemployment is down, wages are increasing, and inflation is dead,” she said on social media. “More than 139,000 good jobs were added to the private sector in May, all accounted for by American-born workers. Americans should continue to Trust in President Trump, who continues to beat expectations.”
The 139,000 job growth was more than the 125,000 that had been projected by the Dow Jones estimate. Last month, job growth also exceeded expectations, although the increase was revised down by 30,000 jobs in the latest report.
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Industries that saw the most growth were health care (62,000), leisure and hospitality (48,000), and social assistance (16,000). Federal government employment declined by 22,000.
The Bureau of Labor Statistics added that there was little change in mining, oil and gas extraction, construction, manufacturing, wholesale trade, retail trade, transportation and warehousing, and the financial activities industries from the previous month.
At the same time, average hourly pay increased 15 cents to $36.24 last month.
“The small business economy is growing and the private economy is growing. This is exactly what Donald Trump wanted to do for reversing everything that Biden had done,” said Job Creators Network CEO Alfredo Ortiz in response to the report. “It’s so good to see that we’re actually creating private economy jobs again.”
The stock markets rose after the job report was released, with the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average rising by more than one percent.
“GREAT JOB NUMBERS, STOCK MARKET UP BIG! AT THE SAME TIME, BILLIONS POURING IN FROM TARIFFS!!!” Trump posted on Truth Social Friday morning.
In a series of other posts, Trump lauded the economy and urged the Federal Reserve to take action to cut interest rates.
“AMERICA IS HOT! SIX MONTHS AGO IT WAS COLD AS ICE! BORDER IS CLOSED, PRICES ARE DOWN. WAGES ARE UP!” Trump wrote.
In another post, he said that the Fed’s decision not to cut rates was costing the United States “a fortune.”
“If ‘Too Late’ at the Fed would CUT, we would greatly reduce interest rates, long and short, on debt that is coming due. Biden went mostly short term,” Trump added in another post. “There is virtually no inflation (anymore), but if it should come back, RAISE ‘RATE’ TO COUNTER. Very Simple!!! He is costing our Country a fortune. Borrowing costs should be MUCH LOWER!!!”