PULSE POINTS:
❓What Happened: Economic and employment data show 99.8 percent of the job growth since President Donald J. Trump’s inauguration in January has come in the private sector, compared to just 75 percent under the final two years of the former Biden government.
👥 Who’s Involved: President Donald Trump, White House Press Secretary Karoline Leavitt, Bureau of Labor Statistics (BLS).
📍 Where & When: United States, May 2024.
💬 Key Quote: “Jobs are up, unemployment is down, wages are increasing, and inflation is dead,” said White House Press Secretary Karoline Leavitt.
⚠️ Impact: The U.S. economy added 139,000 jobs in May, with nearly all growth occurring in the private sector, according to the Bureau of Labor Statistics (BLS). The unemployment rate held steady at 4.2 percent, and wages for private-sector workers also saw a notable increase.
IN FULL:
Private sector job growth surged during the first six months of President Donald J. Trump‘s second term. Employment data released by the Bureau of Labor Statistics (BLS) shows 99.8 percent of job growth has been in the private sector, compared to just 75 percent during former President Joe Biden‘s last two years in office.
The data underpins claims that much of the job growth touted by the former Biden government was the direct result of the increase in federal government spending and not an actual expansion of the U.S. economy. Notably, the job numbers released during Biden’s term saw a number of post-facto corrections, with a benchmark revision in August 2024 revising the total jobs between April 2023 and March 2024 downward by nearly one million.
“Jobs are up, unemployment is down, wages are increasing, and inflation is dead. More than 139,000 good jobs were added to the private sector in May, all accounted for by American-born workers. Americans should continue to trust in President Trump, who continues to beat expectations,” White House Press Secretary Karoline Leavitt said in a statement regarding last month’s jobs data. The U.S. economy added 139,000 jobs in May, with nearly all growth occurring in the private sector, according to the Bureau of Labor Statistics (BLS). The unemployment rate held steady at 4.2 percent, and wages for private-sector workers also saw a notable increase.
The Biden government used high levels of new government employment to give the impression that the U.S. economy and labor market were stronger than expected. However, the high federal government spending required to expand public sector employment likely exacerbated inflation, which has now almost entirely subsided under President Trump.
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