The good economic news just keeps rolling in. On Friday, the Bureau of Labor Statistics released a positive May jobs report, announcing the U.S. economy added 223,000 jobs and the unemployment rate reached its lowest level since 2000, dipping to 3.8 percent.
While this report shatters expert predictions by nearly 30,000 jobs and continues to show signs of a strong economy, it also makes clear that as people continue to leave the workforce, employers will need to step up their game in order to attract workers to fill open positions.
The strong jobs report shows that a record number of Americans are employed, nearly 3 million people have found a job since President Donald Trump took office, and over the past 12 months we have averaged 191,000 new jobs per month.
In addition to this, African-American unemployment has fallen dramatically from 7.8 percent when Trump took office to 6.6 percent in April, and now to 5.9 percent. This represents a record low.
In addition, Hispanics continue to experience near historic lows in unemployment, reaching 4.9 percent. The unemployment rate for women, now at 3.6 percent, is also at its lowest point in decades.
This brings the unemployment rate down 0.5 percent over the last year, unemployment down by 772,000, and long-term unemployment down by half a million.
The top gains in the report are in retail trade (+31,000 jobs), health care (+29,000 jobs), construction (+25,000 jobs), manufacturing (+18,000 jobs), and mining (+6,000 jobs).
A year and a half into his presidency, Trump continues to add jobs to key sectors he targeted during his campaign. Since he was elected, the U.S. has added 322,000 manufacturing jobs and has reversed the trend of losing mining jobs, adding 91,000 jobs since November of 2016.
Poster Comment:
I do oppose his support of Israel.