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The U.S. economy added 223,000 job in May as U.S. companies continued their hiring spree, according to the Labor Department's monthly jobs report released Friday. The unemployment rate fell to 3.8 percent, the lowest since 2000.
In a highly unusual move, President Trump tweeted early Friday morning that he was "looking forward to seeing the employment numbers." Trump's tweet moved markets as many on Wall Street thought the president was signaling that job gains would be far higher than the 200,000 that had been expected. Stocked jumped at the open with the Dow rising more than 200 points.
Many economists predict the unemployment rate will fall even further this year, potentially dropping to 3.5 percent, which would be the lowest rate since 1969. Wage growth ticked up slightly to 2.7 percent over the past year, but is still sluggish.
"The labor market is continuing its longest streak of job growth on record," said Martha Gimbel, researcher director at Indeed.com, an employment website. "This recovery is showing no sign of slowing down."
https://www.washingtonpost.com/news...dd-200000-jobs-in-may/?utm_term=.140ad52b828c
In a highly unusual move, President Trump tweeted early Friday morning that he was "looking forward to seeing the employment numbers." Trump's tweet moved markets as many on Wall Street thought the president was signaling that job gains would be far higher than the 200,000 that had been expected. Stocked jumped at the open with the Dow rising more than 200 points.
Many economists predict the unemployment rate will fall even further this year, potentially dropping to 3.5 percent, which would be the lowest rate since 1969. Wage growth ticked up slightly to 2.7 percent over the past year, but is still sluggish.
"The labor market is continuing its longest streak of job growth on record," said Martha Gimbel, researcher director at Indeed.com, an employment website. "This recovery is showing no sign of slowing down."
https://www.washingtonpost.com/news...dd-200000-jobs-in-may/?utm_term=.140ad52b828c
