“BOOMING” Trump-Led Economy As the U.S. Added 139,000 Jobs in May, Exceeding Expectations
By The Blog Source
The month of May saw 139,000 new jobs created in the United States, the third consecutive month of higher-than-expected growth. The White House hailed it as more evidence of a "BOOMING" Trump-led economy, with wages up almost 4% and all gains going to native-born Americans.
With 48,000 new jobs, leisure and hospitality came in first, followed by construction (+4,000) and transportation and warehousing (+5,800). Over the past year, real average hourly wages increased by almost 4%, significantly above projections. Real disposable personal income has increased at an annualized rate of 7.5% since Trump took office.
In stark contrast to the latter two years of the Biden administration, when one in four new employment opportunities was government-funded, the White House reports that 99.8% of all job increases under Trump have been in the private sector. The White House said Friday that President Donald Trump's "America First Economic Agenda" is working, praising May's better-than-expected job growth.
White House Press Secretary Karoline Leavitt declared, "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." "American-born workers accounted for all of the more than 139,000 good jobs that were added to the private sector in May."
Almost all of the jobs generated since Trump took office in January have now been created in the private sector. This includes four consecutive months of construction gains, while working Americans' wage growth is still exceeding forecasts. Over the past year, real average hourly wages have increased by almost 4%. The White House also underlined that real disposable personal income is increasing under Trump at a rate that is more than three times faster than it was during Biden's last year in office.
Additionally, the study reverses the trend under Biden, when a sizable portion of employment gains were attributable to government workers. The private sector has accounted for 99.8% of all new employment created under Trump. "Americans should continue to trust in President Trump, who continues to beat expectations," Leavitt said; this represents a return to a market-driven labor force.
Since January, more than half a million jobs have been created, all of which are going to native-born workers, according to Council of Economic Advisers Chair Steve Miran on Fox News. "Hundreds of thousands of jobs are being created by the President."
Steve Moore, an economist, praised the data as another proof of a "blockbuster economy," citing robust GDP growth and low inflation. "This tells us that there are jobs available right now for those who want them."
"This is exactly what Donald Trump aimed to achieve in reversing the policies implemented by Biden," said Alfredo Ortiz, CEO of Job Creators Network, who joined Miran and Moore in supporting small businesses. The fact that we are once again generating jobs in the private sector is wonderful.
"The markets might be encouraged by the fact that you aren't seeing job losses," said Cheryl Casone of Fox Business, who also noted that the strong labor market could boost consumer confidence this summer. "This could be an excellent economic story," she continued, citing growing incomes and falling gas prices.
Joel Shulman, CEO of ERShares, predicted more catalysts were on the horizon, saying, "I think we're going to see another catalyst on June 11th, coupled with this better-than-expected jobs report—so I think things are looking more optimistic." The White House cited upcoming economic data as additional momentum.
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