Since President Trump has taken a hold of the economy, jobs are continuing to be added to the economy and unemployment is continuing to see record lows.
On Friday, the Bureau of Labor Statistics released the newest of the jobs reports for the month of April. More than 164,000 nonfarm jobs were added to the economy and unemployment came under expert predictions at 3.9 percent. This unemployment score is the lowest the nation has seen in the last 18 years.
BREAKING: US created 164K jobs in April vs. 192K expected; unemployment rate at 3.9% vs. 4.0% expected.https://t.co/2oYu7945uY
— CNBC Now (@CNBCnow) May 4, 2018
President Trump tweeted about the robust numbers, criticizing those who are continuing the Russia investigation (what Trump calls a distraction), while he continues to grow the economy.
He simply said, “JUST OUT: 3.9% Unemployment. 4% is Broken! In the meantime, WITCH HUNT!”
JUST OUT: 3.9% Unemployment. 4% is Broken! In the meantime, WITCH HUNT!
— Donald J. Trump (@realDonaldTrump) May 4, 2018
Check it out, per CNBC:
Economists surveyed by Reuters had expected payroll growth of 192,000 and the jobless rate to drop by one-tenth of a percent to 4.0 percent. The official jobs tally showed an increase from an upwardly revised 135,000 in March.
Stock market futures moved lower following the release, while government bond yields also drifted downward.
“The expectations were a little bit elevated going into this probably just because last month’s report was a little bit weaker,” said Charlie Ripley, senior investment strategist at Allianz Investment Management. “Net-net this was a little bit softer than people were expecting. This goes into a lot of the other data that we’ve been seeing, … a little bit of a soft patch.”
The closely watched average hourly earnings number rose by 4 cents, equating to a 2.6 percent annualized gain, a bit off the pace from the previous month and a shade less than expected. The average workweek was unchanged at 34.1 hours.
— CNBC Now (@CNBCnow) May 4, 2018
While the record-low 3.9 percent figure represents those in the workforce which are working full time positions, according to the report, employment for people holding part-time positions “fell to 7.8 percent, the lowest since July 2001.”
Unemployment for Black Americans set a new record-low at 6.6 percent, down 0.3 percent, and the lowest ever figure set since the BLS started recording the data. Here’s more:
Professional and business services created the most new jobs, with 54,000, while manufacturing and health care added 24,000 apiece. Mining saw 8,000 new jobs, bringing to 86,000 the total unemployment growth since October 2016 for a sector that President Donald Trump promised to target when he campaigned.
Services jobs overall led the way, with 119,000 new positions. Leisure and hospitality increased by 18,000.
In addition to the upward revision for March, February’s number edged lower from 326,000 to 324,000.
Obama lost 17k manufacturing jobs in his final year and said they were never coming back. Trump added 300k.
Next question? https://t.co/spdlqB2Dxw
— Bill Mitchell (@mitchellvii) May 4, 2018
Here’s even more, per the Hill:
Employers have added jobs for 91 straight months, and the economic expansion, which began in June 2009, is now in its 107th month, which is the second-longest expansion in U.S. economic history.
Mark Zandi, chief economist for Moody’s Analytics, said this week he expects the nation to break the record for the longest period of growth in June 2019.
The nation’s longest span of growth lasted 120 months, from 1991 to 2001.
Note: The author of this article has included commentary that expresses an opinion and analysis of the facts.
LISTEN: @cvpayne told @SandraSmithFox, “Remember they said it couldn’t be done? Now we’re approaching 300,000 manufacturing jobs in America since @realDonaldTrump was inaugurated.” pic.twitter.com/8BUBRk4W1O
— America’s Newsroom (@AmericaNewsroom) May 4, 2018