Economists had been expecting payroll growth of 180,000 and a slight decline in unemployment. Last month, the economy added 231,000 jobs.
Where is this new employment coming from?
Employment stats are rising in the areas of restaurants and bars, meaning that Americans are feeling confident enough to spend money on entertainment and also in the white collar office job arena and in healthcare. So far, employment in the mining and manufacturing sectors are unchanged. Mining and manufacturing were some of Trump’s major areas of focus during the campaign and an unchanged number of jobs in these areas could easily indicate that the job losses that have been feared over years are being held back.
But, this morning President Trump tweeted this about new manufacturing jobs coming to America:
Toyota & Mazda to build a new $1.6B plant here in the U.S.A. and create 4K new American jobs. A great investment in American manufacturing!
So far, the numbers show that the labor force participation rate stayed at 62.9% and has stayed steady since last year. That means that the percentage of people who want to be employed and who are currently employed has stayed the same.
Just a few minutes ago, Mike Pence tweeted: “Thanks to @POTUS’ agenda, American businesses are optimistic in our future once again & they’re investing & creating jobs HERE in America.”
Thanks to @POTUS' agenda, American businesses are optimistic in our future once again & they're investing & creating jobs HERE in America. pic.twitter.com/XphlbGXFA2
In just these first six months, the U.S. economy has added MORE THAN 1 MILLION JOBS under @POTUS Trump. And we're just getting started. pic.twitter.com/FHLNAXtaTL