BOOM!!! 223,000 Jobs Added in May, Unemployment Rate Down to 3.8% … Black Unemployment Rate Hits New Record Low at 5.9%!
DONALD TRUMP … MAKING THE ECONOMY GREAT AGAIN!!!
The May jobs numbers are in and they were HUGE! As reported at CNBC, total nonfarm payroll employment increased by 223,000 in May, compared to an expected 188K. Also, the underemployment rate is down to 3.8%. Even CNN is reporting that unemployment rate matches lowest point in half a century. Job gains came from retail (31,000), health care (29,000), construction (25,000), professional and technical services (23,000) and transportation and warehousing, which added 19,000. Manufacturing also contributed 18,000 and mining grew by 6,000. Wait, 18,000 jobs from manufacturing? I thought Obama said manufacturing jobs would never come back? This represents another strong jobs report for the Trump administration.
The U.S. economy continued to add jobs at a solid clip in May, with nonfarm payrolls up 223,000 while the unemployment rate was 3.8 percent, the Bureau of Labor Statistics reported Friday.
Economists had been expecting payroll growth of 188,000 and the jobless rate to hold steady at 3.9 percent.
The unemployment rate was last this low in April 2000. A separate level of unemployment that adds in discouraged workers and those holding part-time positions for economic reasons fell to 7.6 percent, the lowest since May 2001.
The closely watched average hourly earnings metric rose 0.3 percent, as expected. That translates to an annualized rate of 2.7 percent, up one-tenth of a point from April.
In addition to the better-than-expected payrolls for May, March’s count was revised up from 135,000 to 155,000 while April ended lower from 164,000 to 159,000, for a net gain of 15,000.
Job gains came from retail (31,000), health care (29,000), construction (25,000), professional and technical services (23,000) and transportation and warehousing, which added 19,000. Manufacturing also contributed 18,000 and mining grew by 6,000.
US economy adds 223K jobs in May
The unemployment rate for black workers hit new record lows in May, the Labor Department’s Bureau of Labor Statistics reported Friday.
Black unemployment fell sharply to 5.9 percent, beating out the 6.6 percent record low that was set a month earlier.
The unemployment rate for Hispanic workers hit a record low in April, at 4.8 percent, but it rose slightly to 4.9 percent in May.