Trump's Economy Breaks Another Unemployment Rate Record

  • 2019-05-03
  • Source: TTN
  • by: TTN Staff
Trump's Economy Breaks Another Unemployment Rate Record
By Gage Skidmore from Peoria, AZ, United States of America via Wikimedia Commons
 
President Trump just got another win on the economy with job numbers beating estimates and the unemployment rate dropping to the lowest since1969.

According to CNBC:

The U.S. jobs machine kept humming along in April, adding a robust 263,000 new hires while the unemployment rate fell to 3.6%, the lowest in a generation, according to a Labor Department report Friday.

Nonfarm payroll growth easily beat Wall Street expectations of 190,000 and a 3.8% jobless rate.

Average hourly earnings growth held at 3.2% over the past year, a notch below Dow Jones estimates of 3.3%. The monthly gain was 0.2%, below the expected 0.3% increase, bringing the average to $27.77. The average work week also dropped 0.1 hours to 34.4 hours.

Unemployment was last this low in December 1969 when it hit 3.5%. At a time when many economists see a tight labor market, big job growth continues as the economic expansion is just a few months away from being the longest in history.

President Trump has made the economy his top priority in his p[residency and the numbers so far this year have shown continued success.

 Source: TTN

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