Then-candidate Donald Trump promised American voters and workers that his tax, trade and deregulatory policies would deliver jobs and prosperity, and that is a promise that now-President Trump has kept thus far.
The Department of Labor’s jobs report for the month of May was released on Friday, and it revealed employment statistics far better than what had been predicted by the economic analysts and “experts.”
According to Breitbart, the U.S. economy added roughly 223,000 nonfarm payroll jobs over the course of May, beating the estimate of around 190,000 new jobs.
The overall unemployment rate also dropped down to 3.8 percent instead of holding steady at 3.9 percent, as had been predicted.
Broken down by demographics, that rate includes 3.5 percent for white workers, a historically low 5.9 and 4.9 percent for blacks and Hispanics, respectively, and an astonishing 2.1 percent unemployment for Asian workers.
Of those new jobs added to the economy, some of the strongest sectors included construction (25,000), manufacturing (18,000), health care (29,000) and even retail (31,000), all of which have been trending higher over the past year.
Meanwhile, average hourly wages increased slightly — 2.7 percent higher than this point last year — a key indicator finally moving up that has been lagging behind other economic metrics for some time.
A sure sign that the economy is not only booming but on solid footing as well is the fact that businesses are also investing more in their own infrastructure and growth by way of new equipment like industrial machinery, computers and software.
All of that has contributed to increased economic optimism looking forward, with some analysts and experts predicting a gross domestic product growth rate of well more than 4 percent over the second quarter of the fiscal year, which could place the nation on the path for an average GDP growth rate of around 4 percent on the entire year.
Recall all of the so-called “experts” who issued dire predictions that Trump’s policies would result in lost jobs and higher unemployment, or that he would never see a GDP higher than 2-3 percent.
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As it turns out, cutting taxes for corporations and individuals alike, not to mention rolling back oppressive and unnecessary regulations, has worked out well for the U.S. economy thus far.
Who would’ve thought that placing a successful businessman in charge of the nation would create a pro-business environment in which businesses and the economy would flourish and prosper?
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