UNDER PRESIDENT TRUMP, UNEMPLOYMENT DROPS TO THE LOWEST IN A DECADE
Figures released by the American Labor Department shows that the country’s unemployment rate has dropped to 4.4%. This is the lowest level since May 2007 and it is another landmark achievement for President Donald Trump and the current administration.
According to figures released by the Bureau of Labor Statistics, the American economy gained an additional 211,000 jobs in the month of April. A sharp contrast to the mere 79,000 jobs gained in March. Chief investment strategist at State Street Global Advisors Michael Arone says, "It's a very strong report, we're nearing full employment in the US economy."
Tony Bedikian, the head of global markets for Citizens Bank said the increase in the growth of jobs shows that the situation in March was only a weather-related aberration. Speaking to Business Insider, he said, "Businesses are certainly hiring and there's no sign that we see of any bump in the road in hiring trends”
After a two-month slide, the retail sector added 6,300 jobs and the low rate of unemployment in April showed that almost everyone who looked for a job got one. Several analysts and economists are of the opinion that the United States is nearing a zero unemployment situation and this could mean an increase in wage growth.
Cathy Barrera, chief economic adviser at Zip Recruiter, a job search site, said "The unemployment rate is even lower than expected. We're seeing that continued wage growth. To me, these are all good signs"
This is the third jobs report of President Donald Trump’s administration and during that time, there have been an extra 522,000 jobs in the United States of America.