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Economy

Unemployment Hits Half-Century Low

The Trump economy continues its steady upward growth, as 263,000 jobs were added in April.

Thomas Gallatin · May 3, 2019

The jobs numbers for April are out and it’s more good news, as 263,000 jobs were added, surpassing Wall Street expectations of 190,000. With the economy continuing its steady upward trajectory, a milestone was reached that has not been seen since 1969 — the headline unemployment rate fell to 3.6%. Meanwhile, the more complete U6 unemployment measure held steady at 7.3%.

The Bureau of Labor Statistics reported, “Among the major worker groups, the unemployment rates declined in April for adult men (3.4 percent), adult women (3.1 percent), Whites (3.1 percent), Asians (2.2 percent), and Hispanics (4.2 percent). The jobless rates for teenagers (13.0 percent) and Blacks (6.7 percent) showed little or no change.”

CNBC notes, “GDP increased 3.2% during the first quarter, far exceeding expectations, while productivity during the quarter jumped 3.6% for its best gain in five years. Pending home sales rose 3.8% in March, providing some hope in the real estate market so long as rates are held in check.”

This is more good news for all Americans and for President Donald Trump. Clearly, his commitment to deregulation coupled with the Republican tax cut is paying off, and an increasing percentage of the country is seeing this. Even anti-Trump CNN’s own poll found that 56% of Americans view Trump favorably on the economy. It’s becoming increasingly difficult for Democrat presidential candidates to spin this booming economy as somehow bad for Americans.

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