President Donald Trump on Friday lauded federal data showing the U.S. economy added far more jobs than expected in May, even as the share of Americans working or looking for work remained unchanged, while recent reports indicated a stable job market despite a steady decline in total employment.
Recent data pointed to a stable job market, even as total employment declined.
The U.S. added 172,000 nonfarm jobs in May and the unemployment rate remained 4.3%, the Bureau of Labor Statistics reported, far surpassing consensus analyst estimates of 105,000 new jobs, according to FactSet.
“With a great jobs report, like just announced, stocks should go up, not down,” Trump wrote on Truth Social, adding, “Growth does not mean inflation! How else can a country attain GREATNESS???”
Total employment growth for March was revised up by 29,000, rising to 214,000, and April was revised up by 64,000 to 179,000, nearly triple projections for an added 65,000 jobs in the month.
