Under President Trump, the United States economy has added 223,000 jobs in the month of May and unemployment is now at 3.8 percent, an 18-year low.
The jobs added were well above expert predictions of 188,000 jobs, Fox Business reports.
-U.S. added 223,000 jobs in May, beating expectations.
-Unemployment at 3.8%, the lowest since early 2000
-Black unemployment hits record low of 5.9%; first time it has ever been under 6%.
-Average earnings are up 2.7 percent over the past year.
— RNC Research (@RNCResearch) June 1, 2018
Per the report:
Job creation was also above the average 190,000 jobs created each month after the past year.
The unemployment rate ticked down to 3.8% from April’s 3.9%. The unemployment rate is now at an 18-year low.
Wage inflation came in above expectations, at 0.3%. Analysts polled by Thomson Reuters were anticipating wages would increase by 0.2%.
— Secretary Acosta (@SecretaryAcosta) June 1, 2018
— CNBC Now (@CNBCnow) June 1, 2018
One of the notable achievements Trump is quick to tout is declining unemployment rates among minority groups, including Black and Hispanic Americans. As Real Clear Politics reports, both are continuing to see historic lows under the Trump administration.
Check it out:
It’s baseball season in America, and any fan knows that going 6 for 7 in batting is stellar. Well, President Trump just pulled off a 6 for 7 performance — not in at-plate appearances but instead in an arena far more crucial: record jobs gains for Hispanic Americans.
Among Latinos, the jobless rate has only registered below 5 percent for seven months total – in the history of this country. Six of those months have occurred with Donald Trump in the White House, including the April report released last week.
The jobs data was terrific news for Americans of all ethnicities. For the first time since the year 2000, the overall unemployment rate dipped below 4 percent. Just as significant, almost 1 million Americans who had previously given up on finding a job have rejoined the workforce since Trump was elected.
— FOX Business (@FoxBusiness) June 1, 2018
In contrast to the mainstream media narrative that the current president represents a retrenchment to a monolithic white America, the results so far suggest that exactly the opposite is happening as both Hispanic and African-American jobless figures reach all-time lows. Small and start-up businesses – the normal engine of job creation – particularly thrive under the sensible regulatory restraint of this administration. In addition, recent surveys show soaring confidence among Americans about the humming U.S. economy.
This expansion among small business represents an especially crucial improvement for Hispanics, who are statistically the most entrepreneurial demographic in America. Perhaps this start-up grit among my fellow Hispanics explains why Latinos massively outperformed polling and media expectations for Trump in the 2016 election despite widespread predictions of doom.
And as CNN Money reports, the job growth comes amid ongoing trade negotiations with China and a number of other countries.
According to the report, U.S. Commerce Secretary Wilbur Ross will be visiting with Chinese trade negotiators this weekend. Trump recently expressed he wanted China, one of the largest economies in the world, to change their disadvantageous deal with the U.S. and announced tariffs to influence the negotiation process:
The negotiations come after a rocky week during which the United States tore up a tentative trade truce with Beijing and hit Canada, Mexico and the European Union with big tariffs on metal imports. All three will retaliate.
Washington and Beijing have been exchanging threats for months, announcing plans for tariffs on tens of billions of dollars of each others’ exports.
“America is making a comeback,” Vice President Pence tweeted, following the release of the new jobs report.
— Vice President Mike Pence (@VP) June 1, 2018
Pro-growth Republican policies mean more jobs and higher wages for Americans. From #TaxReform to cutting through Washington red tape, we are working with @POTUS to grow this economy and help families achieve the American Dream! https://t.co/H1YjDnWloX
— Rep. Steve Scalise (@SteveScalise) June 1, 2018