The Trump economy has once again shocked the pundits and “experts”,” this time by adding 139,000 jobs, which is about 15,000 more than the “experts” predicted.
Economists expected only about 125,000 jobs to be added to the workforce, though they did successfully predict that the unemployment rate would remain steady at 4.2 percent.
Amazingly, this higher job growth rate came even though the federal government has shed tens of thousands of jobs.
ABC News was even forced to admit that the unemployment rate is at historic lows.
Per Breitbart News:
President Donald Trump’s program of shrinking the federal government is showing signs of progress. Employment in the federal government fell by 22,000 in May and is down 59,000 since January.
The private sector added 140,000 jobs, more than the 120,000 forecast. The services sector expanded by 145,000 jobs while the good producing side of the economy contracted by 5,000. Manufacturing employment contracted by 8,000 jobs but the prior month’s figure was revised up from a loss of 1,000 to a gain of 5,000.
Over the past 12 months, the economy has added 149,000 jobs each month on average.
The labor force participation rate slipped to 62.4 from 62.6 in the prior month.
Average hourly earnings climbed at a rapid rate, rising 0.4 percent in May. That is double the April rate of increase and more than the consensus forecast. Compared with a year ago, average hourly earnings are up 3.9 percent, handily beating inflation.
So, once again, we find that Trump’s economic plans are not tanking the country like the “experts” and the liberals keep claiming.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, X at WTHuston, or Truth Social at @WarnerToddHuston.
