Job Growth Exceeds Expectations for Third Month Running

They immediately went from claiming that Biden was running the hottest economy in history to forecasting -- or wishcasting -- a recession from the moment Trump was elected.

The U.S. added 139,000 jobs in May, marking the third straight month of stronger-than-expected growth. With wages up nearly 4% and all gains going to native-born Americans, the White House called it further proof of a "BOOMING" Trump-led economy.

Key Details:

Leisure and hospitality led with 48,000 new jobs, followed by transportation and warehousing (+5,800) and construction (+4,000).

Real average hourly earnings rose nearly 4% over the past year, far surpassing forecasts. Since Trump took office, real disposable personal income has risen at a 7.5% annualized pace.

According to the White House, 99.8% of all job gains under Trump have been in the private sector--a sharp contrast from the final two years of the Biden era, when one in four new jobs were government-funded.

Diving Deeper:

President Donald Trump's "America First Economic Agenda" is delivering, according to the White House's Friday statement celebrating May's stronger-than-expected jobs numbers.

"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," said White House Press Secretary Karoline Leavitt. "More than 139,000 good jobs were added to the private sector in May, all accounted for by American-born workers."

The private sector has now accounted for nearly every job created since Trump took office in January. That includes four straight months of gains in construction, while wage growth for working Americans continues to beat expectations. Real average hourly earnings are up nearly 4% over the past year. The White House also emphasized that under Trump, real disposable personal income is growing at more than three times the pace of Biden's final year in office.

The report also marks a reversal from the trend seen under Biden, where government jobs made up a significant share of employment gains. Under Trump, 99.8% of jobs added have been in the private economy. Leavitt argued that this reflects a return to a market-driven labor force: "Americans should continue to trust in President Trump, who continues to beat expectations."

Council of Economic Advisers Chair Steve Miran noted on Fox News that over half a million jobs have been created since January--all going to native-born workers. "The President is succeeding in creating hundreds of thousands of jobs."

posted by Ace at 02:25 PM

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