President Donald Trump praised the robust US job market performance in May, highlighting the addition of 172,000 jobs, surpassing predictions. Trump, speaking in Wisconsin, emphasized that the job numbers had consistently exceeded forecasts for three consecutive months. He noted that experts had anticipated a much lower job creation figure.
The President lauded the May employment report as the most impressive during his term, citing significant job gains in manufacturing and construction sectors. Trump mentioned the addition of 7,000 manufacturing jobs and 17,000 construction jobs in a single month. Additionally, he pointed out that previous employment reports had been revised upward by nearly 100,000 jobs.
Trump criticized the Federal Reserve’s stance on interest rates, advocating for economic growth as a means to control inflation instead of tightening monetary policies. He expressed discontent with the stock market’s reaction to positive job numbers, attributing market fluctuations to concerns about potential interest rate hikes. Trump also reiterated his disapproval of Federal Reserve Chairman Jerome Powell’s rate decisions, endorsing former governor Kevin Warsh for the role.
The President highlighted ongoing investments and construction activities as driving forces behind the country’s economic progress. He emphasized the substantial investment commitments, reaching $18 trillion since he assumed office. Trump also underscored the wage growth, particularly in the manufacturing sector, with wages rising over 8% since he took office. He attributed these economic achievements to his administration’s trade, energy, and tax policies, anticipating sustained growth supported by lower energy costs and increased domestic investments.
