When President Trump began implementing his promised tariff regime in order to force countries around the world who have been unfairly levying duties on our goods while we essentially allowed them to flood America with their products, Democrats and their lapdog media allies began predicting – and then claiming – that the commander-in-chief was crashing the economy.
They even got a bit of a boost for about 25 minutes last month when the stock market fell fairly dramatically in response to the media- and Democrat-driven hysteria over tariffs. Of course, Wall Street quickly recovered and with good reason: The ‘sky is falling’ pronouncements about a cratering economy under Trump were quickly proven to be false, and what’s more, the latest jobs report from the Labor Department further puts the lie to that false narrative.
The U.S. Labor Department reported on Friday that nonfarm payrolls increased by 177,000 in April—down from 228,000 in March but still above the consensus forecast—and the unemployment rate remained unchanged at 4.2%. Private?sector employment rose by 167,000 jobs, well above the 125,000 economists surveyed by LSEG had anticipated. Government payrolls added 10,000 positions overall, reflecting a 9,000?job decline at the federal level offset by gains of 6,000 in state government and 13,000 in local governments. These figures include workers on paid leave or receiving severance.
Manufacturing employment fell by 1,000 jobs, a smaller drop than the 5,000?job loss forecast by LSEG analysts. At the industry level, job gains were broad?based, led by healthcare (+51,000), transportation (+29,000), financial services (+14,000), and social assistance (+8,000). The labor participation rate remained 62.6%, a result that’s been relatively consistent over the past 12 months, Fox News reports.
An additional 4.7?million workers reported earning part?time wages, reflecting those still seeking full?time work but limited by reduced hours or similar constraints. Meanwhile, the number of Americans holding multiple jobs fell by 76,000, a potential positive indicator that more workers can support themselves on a single paycheck.
In short, the ‘Trump is collapsing the economy’ narrative has been proven to be a big, fat Democrat-driven lie. And as the companies who have pledged to invest more than $5 trillion begin to break ground on these new manufacturing centers, ‘Trump’s economy’ will begin to resemble the “Golden Age of America” he has promised.