The Trump administration once again has some good economic news to close out the work week with the latest release of Bureau of Labor Statistics’ July job report on Friday.
Here are the highlights of Friday’s numbers:
BLS also reported Friday that black employment is now at its highest point since the bureau started keeping records on the data in 1972 at 19,481,000. That’s 282,000 higher than June’s number of 19,199,000.
“July’s Employment Situation Report demonstrates the steady and consistent growth of the American economy,” said Acting Labor Secretary Patrick Pizzella. “With Labor Day a month away, we have not seen an unemployment rate this low on a Labor Day since 1952.”
Editor’s note: A Department of Labor spokesman notified CR that 1952 is incorrect. The spokesman said, “In a recent statement, the Department of Labor mistakenly cited 1952 as the last year the unemployment rate preceding Labor Day was lower than 2019.
Republican lawmakers praised the news, pointing to Republicans’ tax cuts and deregulation agenda as the cause of economic growth.
“A record number of workers are on the job in America’s strong, healthy and growing economy,” said Senate Republican Conference Chair John Barrasso, Wyo. “Republicans’ tax reform and regulatory relief have set the stage for robust job growth and wage gains, and American workers are winning.”
Senate Finance Committee Chairman Chuck Grassley, R-Iowa, tweeted that the numbers were “good news for families+ society+ the entire country.”
New jobs report shows a RECORD HIGH 157.3 MILLION Americans are working That’s good news for families+ society+ the entire country Under Pres Trump’s economy wages are rising especially for blue collar workers & unemployment has been historically low
— ChuckGrassley (@ChuckGrassley) August 2, 2019
In related news, a recent survey found that a majority of Americans think that government is in the way of growing the economy further, with 56 percent saying that big government spending is holding things back.