The U.S. economy added 172,000 jobs in May, significantly surpassing expert predictions, according to President Donald Trump. He hailed the figures as the strongest employment numbers of his administration so far, emphasizing steady job growth despite global geopolitical tensions.
Speaking at an agriculture roundtable in Wisconsin, Trump underscored that economists had forecasted a far lower job increase, around 30,000, making the actual results “three months in a row” of exceeding expectations. He also noted upward revisions in previous months’ employment data, adding nearly 100,000 more jobs to past counts.
Beyond overall job creation, the President pointed out notable advances in manufacturing and construction sectors, with 7,000 and 17,000 jobs added respectively in May. He linked this momentum to his administration’s trade, energy, and tax policies, asserting higher domestic investment and lower energy prices as key growth drivers. Trump claimed the U.S. has attracted $18 trillion in investment commitments during his time in office.
Wage growth also featured in Trump’s remarks, particularly for manufacturing workers who have seen pay increases exceeding 8 percent since his presidency began. The President argued that economic expansion, rather than restrictive monetary policy, was the best path to controlling inflation.
Trump seized the occasion to challenge the Federal Reserve’s interest rate strategy, criticizing Fed Chair Jerome Powell for maintaining what he views as overly high rates. He expressed support for former Fed governor Kevin Warsh to take over the role, suggesting he would handle monetary policy more effectively. Trump contended that strong economic growth helps curb inflation, countering the market’s reaction to improved job numbers with expectations of rate hikes.