You can hate President Trump all that you want, but unfortunately for those of you who deal in feelings, facts matter to those of us in the real world.
The facts are that President Trump’s economy is on fire.
The U.S. added 263,000 new jobs in April, crushing Wall Street expectations of 190,000.
The Unemployment rate fell to 3.6% vs the 3.8% experts predicted. This is the lowest unemployment rate since 1969.
The last time that unemployment was this low in the United States, it was December of 1969. That’s when it hit 3.5%.
In other strong news, the unemployment rate for Asians fell from 3.1% to 2.2%.
“Leaving aside month-to-month fluctuations, the labor market is still very strong, adding almost double the number of workers needed to keep pace with new entrants to the labor force in any given month,” said Eric Winograd, AllianceBernsetein’s senior economist. “Wages may have been slightly tepid this month relative to expectations but are still growing at just about the highest rate this cycle, and the unemployment rate is at multi-generational lows.”
Professional and business services led job creation with 76,000 new positions. Construction added 33,000, bringing to 256,000 the total new jobs created in the field over the past year.
Health care rose by 27,000, bringing its 12-month total to 404,000, while financial positions increased by 12,000, rounding out an increase of 111,000 in the 12-month period thanks largely to growth in real estate and rental and leasing.
You can read more of the full report HERE.