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The news follows a string of economic releases earlier this week that suggest the U.S. manufacturing sector has started to rebound, even as gas and energy prices surge.
President Donald Trump shakes hands with Kevin Warsh as they arrive to Warsh's swearing-in ceremony to be the new Chairman of the Federal Reserve in the East Room of the White House on May 22, 2026, in Washington, D.C. | Anna Moneymaker/Getty Images
Voters think President Donald Trump’s economy is the pits. The labor market is telling a very different story.
The Labor Department on Friday reported that U.S. payrolls grew by 172,000 in May, a sign of strong economic momentum ahead of a midterm election campaign season that’s certain to be dominated by questions about affordability and the cost of living. The department’s Bureau of Labor Statistics also upwardly revised its estimates for payroll growth in March and April, tacking another 93,000 positions onto blockbuster tallies that had been reported earlier this spring.
