Unemployment rate drops AGAIN, but everyone wants to complain about this…

by The Right Scoop

The unemployment rate has dropped another point to 3.8%, which is the lowest it’s been since 1969:

WSJ – The unemployment rate fell to an 18-year low in May and employers steadily added jobs, signs of enduring strength for the labor market.

U.S. nonfarm payrolls rose a seasonally adjusted 223,000 in May, the Labor Department said Friday. The unemployment rate ticked down to 3.8%, matching April 2000 as the lowest reading since 1969.

Wages in May improved modestly, growing 2.7% from a year earlier.

Economists surveyed by The Wall Street Journal had expected 190,000 new jobs and a 3.9% unemployment rate.

Revised figures show employers added 159,000 jobs in April and 155,000 in March, a net upward revision of 15,000. Through the first five months of the year, employers have added an average of 207,000 workers to payrolls, outpacing 2017’s average monthly growth of 182,000. That runs counter to economists’ expectation for hiring to broadly ease as the labor market tightens.

U.S. employers have added to payrolls for 92 straight months, extending the longest continuous jobs expansion on record.

A tighter labor market should also produce better wage growth, but gains have remained in check, thought they improved somewhat last month.

But this seems to be what everyone wants to talk about:

The tweet seems harmless enough. Why are people complaining about this?





Market Watch also included this in their reporting of the good unemployment news:

In an unusual and controversial move, President Trump foreshadowed the strong employment report in an early-morning tweet in which he said he looked forward to the May jobs figures. Investors took that to mean they should expect a good report.

One business journalist even suggests this is insider trading!

C’mon. That seems a bit far-fetched dontcha think?

Look maybe Trump shouldn’t be tweeting about the jobs report at all prior to it being officially released, but his tweet seemed pretty benign to me. Suggesting he’s looking forward to the jobs report is a far cry different than actually commenting on it.


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