The unemployment rate fell to 3.9 percent in April, a drop of two-tenths of a percent and the lowest level since 2000, the Labor Department reported Friday morning.
Among the jobs added were 24,000 by manufacturers, a level consistent with previous months – and also consistent with President Trump’s pledge to his voter base to bring back the beleaguered sector. The economy had generated 245,000 manufacturing jobs during the last year, and the latest increase comes even amid all the handwringing about Trump’s threat to impose tariffs on various trading partners, including big-time cheaters like China.
The 164,000 total jobs created was fine but below expectations of around 200,000. And part of the reason the unemployment rate dipped is that the labor force participation rate declined for the second month, to 62.8 percent, near the lowest levels in 40 years. It’s an Obama-era problem Trump has not been able to fix.
JUST OUT: 3.9% Unemployment. 4% is Broken! In the meantime, WITCH HUNT!
— Donald J. Trump (@realDonaldTrump) May 4, 2018