The U.S. economy is on a high, according to the Labor Department’s Friday report. The April numbers indicate a buzzing economy with an addition of 263,000 jobs and a low unemployment rate of 3.6%. Moreover, the last time the unemployment rate was this low was in 1969. President Trump shared the news Friday on Twitter, “JOBS, JOBS, JOBS!”
JOBS, JOBS, JOBS!
“Jobs surge in April, unemployment rate falls to the lowest since 1969” https://t.co/4DGpumMISf
— Donald J. Trump (@realDonaldTrump) May 3, 2019
First Quarter Report
According to a report from the Bureau of Economic Analysis released last month, GDP increased at a rate of 3.2 percent for the first quarter of 2019. White House Economic Advisor Larry Kudlow called the record growth “a blow out number” and encouraged the Federal Reserve to cut rates.
“We are clicking on all cylinders, the inflation rate is coming down, the Federal Reserve will be looking at that,” Kudlow said during an interview with CNBC.
This latest report showcases continued growth for the U.S. economy. According to a U.S. Secretary of Labor Alexander Acosta’s Friday statement, the job market, wages, and unemployment rates are moving in the right direction. April’s report surpassed many economists expectations.