“JOBS, JOBS, JOBS,” he tweeted.
Leisure and hospitality added 55,000 jobs, professional and business services added 39,000 jobs and healthcare added 37,000.
Brick-and-mortar retailers cut jobs in response to withering competition from online merchants.”The jobs market added 533,000 new positions during the first three months of the year, in line with first quarters in 2016 and 2015.
That number was revised down to just 79,000 in the latest report.
President Donald Trump applauded the latest jobs figures on Twitter.
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The economy can’t break out because of low productivity
For the first quarter, productivity in the U.S. declined 0.4 percent, according to government data issued Thursday.
Productivity, as measured in economic terms, is essentially a measure of how much product comes from labor and investment.
“Longer term indicators like jobless claims, housing starts, and the ratio of leading to coincident indicators all suggest that the economy remains on a firm footing.”
The biggest dilemma so far for the administration’s growth hopes has been the inability of hard economic data like productivity and sales to catch up to the high expectations among investors, business owners and consumers.
That translates into yearly improvement of just 1.1 percent — better than the flat growth seen over the past several years but still lagging.
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The Obama economy continues: Unemployment reaches a 10-year low three months into Trump’s term
That was the lowest unemployment rate in more than 10 years and includes 211,000 jobs being added and average hourly wages increasing by 0.3 percent.
An incoming tide does not lift all boats.”It will also be difficult to assess the degree to which confidence or lack thereof in Trump’s policies is currently impacting the economic situation.
Year-over-year growth fell to 2.5 percent and the labor participation rate dipped slightly, falling to 62.9 percent in April from 63 percent in March.
New data released by the Labor Department on Friday shows that the unemployment rate dropped from 4.5 percent in March to 4.4 percent in April, according to a report by The New York Times.
That last number is particularly troubling for economists concerned about the creation of a permanent unemployed and underemployed class in America.