Washington, DC - The United States economy added 223,000 jobs in May, one of many recent indicators showing that President Donald J. Trump’s economic policies are paying dividends for American workers and businesses.
BLOOMBERG: U.S. Payrolls Rise 223,000 as Jobless Rate Matches Historic Low
“U.S. hiring rose more than forecast in May, wages picked up and the unemployment rate matched the lowest in almost five decades, indicating the strong labor market will keep powering economic growth. Payrolls increased 223,000 following a revised 159,000 gain, Labor Department figures showed Friday. The median estimate of analysts surveyed by Bloomberg called for 190,000 jobs. Average hourly earnings increased 2.7 percent from a year earlier, more than projected, while the jobless rate fell to 3.8 percent from 3.9 percent to match April 2000 as the lowest since 1969.”
REUTERS: U.S. Weekly Jobless Claims Fall More Than Expected
“Initial claims for state unemployment benefits dropped 13,000 to a seasonally adjusted 221,000 for the week ended May 26, the Labor Department said on Thursday. Claims data for the prior week was unrevised. Economists polled by Reuters had forecast claims falling to 228,000 in the latest week.”
THE WALL STREET JOURNAL: A Record Month for Raises
“The number of small companies raising wages hit a record high in the U.S. this month. That’s according to the latest National Federation of Independent Business employment survey, due out later today. A full 35% of owners of small firms report increasing labor compensation, the highest percentage since NFIB started asking about it in 1986.”
GALLUP: Optimism about Availability of Good Jobs Hits New Heights
“Sixty-seven percent of Americans believe that now is a good time to find a quality job in the U.S., the highest percentage in 17 years of Gallup polling. Optimism about the availability of good jobs has grown by 25 percentage points since Donald Trump was elected president.”
WASHINGTON EXAMINER: Job Openings Hit All-Time High of 6.6 million
“Employers advertised 6.6 million job openings in March, the Department of Labor reported Tuesday, the highest such number since they began keeping track in 2000. The private sector drove the new record. Private employers advertised 5.9 million vacancies in the month, about 200,000 more than the previous high, with the construction sector particularly strong.”
MARKETWATCH: Consumer Confidence is Close to 18-year High
“The level of confidence Americans expressed in the economy remained near an 18-year high in May, suggesting steady U.S. growth in the months ahead. The consumer confidence index rose to 128 from a revised 125.6 in April, the Conference Board said Tuesday.”
THE ASSOCIATED PRESS: U.S. Consumer Spending Up 0.6 percent, Best in 5 months
“Americans boosted their spending by 0.6 percent in April, the biggest increase in five months, while a gauge of inflation remained at the Federal Reserve’s optimal level for a second straight month. The Commerce Department said Thursday that last month’s increase in consumer spending was the largest increase since a 0.7 percent rise last November.”
REUTERS: U.S. Households, Businesses See Good Times Ahead: Fed
“Households are feeling more stable, small businesses are making money and many expect to expand and hire in the coming year, signs of continued optimism in two key parts of the economy, the Federal Reserve reported Tuesday in a pair of annual surveys. Among more than 8,000 small businesses and more than 12,000 households covered in separate surveys late last year by the Fed and its 12 regional banks, the message was similar: economic conditions have been getting better and the expectation is for the good times to continue.”
BLOOMBERG: U.S. Leapfrogs Singapore, Hong Kong to Win World’s Most Competitive Economy
“The U.S. dethroned Hong Kong to retake first place among the world’s most competitive economies, thanks to faster economic growth and a supportive atmosphere for scientific and technological innovation, according to annual rankings by the Switzerland-based IMD World Competitiveness Center.”
REUTERS: U.S. Companies Seen Investing More in Business This Year after Tax Cuts
“U.S. companies could plow more of the money saved from sweeping tax cuts into business investment later this year, perhaps even surpassing a jump in first-quarter capital expenditure that was the highest in almost seven years, strategists and analysts said…. With data in from 94 percent of S&P 500 companies, first-quarter capital expenditures total $159 billion, up more than 21 percent from a year ago and on track to be the highest year-over-year growth since the third quarter of 2011, according to S&P Dow Jones Indices data.”
FOX BUSINESS: U.S. Manufacturers Hiring More, Paying More, Thanks to Tax Reform: Survey
“U.S. manufacturers are hiring more workers, boosting wages and increasing domestic investments following the passage of the Tax Cuts and Jobs Act. Seventy-two percent of manufacturers are ramping up workers’ wages and benefits, according to a new survey from the National Association of Manufacturers (NAM). Meanwhile, 77% of survey respondents said they were hiring more workers, while 86% are investing more in plants and equipment.”
FINANCIAL TIMES: U.S. Industrial Production Clocks Third Straight Month of Gains
“U.S. industrial production grew for a third straight month in April, boosted by strong output gains in utilities and the oil and gas sectors. Industrial production — which measures output at factories, mines and utilities — rose 0.7 per cent in last month, according to data from the Federal Reserve. That’s better than the 0.6 per cent rise analysts had expected and comes as the increase for March was revised upwards from 0.5 per cent to 0.7 per cent.”
MARKETWATCH: Manufacturing Activity at Strongest Level since September 2014, Flash PMI Data Show
“The flash IHS Markit U.S. manufacturing purchasing managers index inched up to 56.6 this months from 56.5 in April and touched the highest level since September 2014. Readings over 50 indicate expansion.”
