May 2017 Jobs Report is Not Very Good
Posted on June 2, 2017
Donald Trump is supposed to be all about "jobs, jobs, jobs." But that isn't what is happening in the economy. The U.S. economy under President Trump created just 138,000 jobs in May 2017.The biggest gains were in professional and business services, which added 38,000 jobs. Food services and drinking places did well, adding 30,000 jobs. Health care added 24,000 jobs and mining added 7,000 jobs. Important industries like construction, manufacturing, retail trade, transportation and warehousing were unchanged in May 2017, showing little or no change. This is "not good" as Trump would say.
CNBC reports that 185,000 jobs were expected. That did not materialize and the actual numbers were far worse than expected.
The job numbers are even worse than the 138,000 May figure because the jobs added in March and April were revised downward. The revised numbers mean just 50,000 jobs were added in March and only 174,000 were added last month. This means under Trump the U.S. economy has only added 121,000 jobs over the past three months.