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‘JOBS, JOBS, JOBS!’: Trump celebrates excellent June jobs report
As a presidential candidate, Donald Trump promised to bring back jobs to America. The numbers continue to show that he is doing just that.
The latest Bureau of Labor Statistics report, released on Friday, shows that jobs continue to be created under the Trump Administration. “JOBS, JOBS, JOBS!” the president tweeted in celebration of the good news.
Continued growth
With Trump in office, the economy has seen its longest consecutive streak of positive monthly job numbers. And according to the most recent Employment Situation Report, that trend continued in June.
The month saw an increase in Nonfarm payroll employment by 213,000, exceeding the expectations of economists, who were only predicting an increase of 195,000.
In 2018, the economy has been growing, on average, by 215,000 jobs per month, which surpasses both 2016 and 2017.
Sector by sector
The most significant increases were found in education and health services, by 54,000, professional and business services, by 50,000, and manufacturing, by 36,000.
These were not the only areas to show positive growth — leisure and hospitality rose by 25,000, transportation and warehousing by 15,000, and government by 11,000. The growth in all three of these areas exceeded the previous 12-month average.
Totaling the numbers, since Trump was elected in November 2016, 3.7 million U.S. jobs have been created, 3.2 million since he took office in January 2017. Three areas alone — construction, manufacturing, and mining/logging — have seen an increase of 876,000.
But didn’t unemployment rise?
It is indeed true that the unemployment rate rose by .2 percentage points in June to reach 4 percent. However, this is one of those times when rising unemployment is not actually a bad thing. This is because the increase was due to a rise in labor force participation, paradoxically enough.
To explain, if people seeking reentry into the workforce do not immediately find employment, then they are counted among the unemployed, causing the unemployment rate to rise. And this is exactly what happened in June.
According to the report, the percentage of re-entrants in June was the highest since before the Great Recession. Of course, not all of these re-entrants were able to find employment immediately, causing that .2 percent increase.
But the fact that previously discouraged job seekers are now seeking reemployment shows just how healthy the economy is. June’s rise in unemployment is actually an encouraging sign.
Presidential celebration
Following the report’s release, Secretary of Labor, Alexander Acosta spread the news, tweeting:
The June unemployment rate moved up to 4.0%, as 601,000 Americans entered the labor force. https://t.co/3dOFCiSpcl
— Secretary Acosta (@SecretaryAcosta) July 6, 2018
The President retweeted this message, adding the caption “JOBS, JOBS, JOBS!”:
JOBS, JOBS, JOBS! https://t.co/Tz2PQ2xetT
— Donald J. Trump (@realDonaldTrump) July 6, 2018
The president has good cause to celebrate as the economy continues to grow under his administration — just as he promised and predicted it would.
