The U.S. economy added 157,000 jobs in the month of July dropping the unemployment rate to 3.9 percent in another strong sign of a robust growth.
July’s jobs report is in.
-The U.S. created 157,000 jobs in July, vs 190,000 expected.
-The unemployment rate fell to 3.9%.
-Average hourly earnings increased 2.7%.https://t.co/USPQNA30PD— CNBC (@CNBC) August 3, 2018
The strong jobs and unemployment numbers come just a week after the Trump administration announced that the second quarter GDP growth reached 4.1 percent.
The 3.9-percent unemployment rate puts it at the lowest number in nearly 50 years, a fact the president frequently touts during public appearances.
President Donald Trump maintains that this economic growth is because of his de-regulatory agenda and the tax cuts and jobs act he signed into law nearly 8 months prior.
“If economic growth continues at this pace, the United States economy will double in size more than 10 years faster than it would have under either President Bush or President Obama,” he said in a recent speech.