White House hails surge in hiring, low unemployment rate in May
The White House celebrated another strong jobs report Friday, saying the 18-year-low in the jobless rate is further proof that President Trump’s economic policies are working.
“We’ve reached yet one more historic milestone,” Mr. Trump said.
Vice President Mike Pence tweeted, “Jobs! Jobs! Jobs! Once again, the economy is growing jobs under @POTUS Trump.”
Mr. Pence noted that employers added 223,000 new jobs in May, making it “3,405,000 jobs since Election Day.”
“America is making a comeback,” he said.
The vice president also noted that May’s 3.8 percent unemployment rate was the lowest since April 2000.
“And hasn’t been lower since 1969,” Mr. Pence tweeted. “HISTORIC! The Trump administration will keep fighting to create even more jobs for the American people!”
The strong hiring in May easily beat Wall Street’s expectations, as the unemployment rate fell from 3.9 percent in April.
Stocks rose about 1 percent in early trading Friday on the stronger-than-expected jobs report. Construction spending also was 6.6 percent higher than the same period last year, the Commerce Department reported Friday.
The unemployment rate for blacks fell to 5.9 percent in May, reaching the lowest level since 1972, when the government started to record that data.
The White House said job growth in manufacturing, construction, and mining and logging “have been especially robust.”
“After averaging gains of 27,000 jobs per month during President Obama’s second term, these industries have almost doubled the pace of hiring to 46,000 jobs per month since January 2017,” the White House said.
Jobs! Jobs! Jobs! Once again, the economy is growing jobs under @POTUS Trump. 223,000 new jobs in May and 3,405,000 since Election Day. America is making a comeback. https://t.co/ClglV3bBx8 Vice President Mike Pence (@VP) June 1, 2018
At 3.8%, the unemployment rate has fallen to its lowest point since April 2000. And hasnt been lower since 1969. HISTORIC! The Trump administration will keep fighting to create even more jobs for the American people! https://t.co/jcP63968cD Vice President Mike Pence (@VP) June 1, 2018