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Trump declares US economy booming despite affordability concerns: ‘IT’S RAINING JOBS’
The Labor Department said the unemployment rate held at 4.3% as Trump argued strong hiring should ease market worries.
- On Friday, the Labor Department reported the U.S. economy added 172,000 jobs in May, nearly double forecasters' expectations. President Trump reacted on Truth Social, arguing strong job growth should boost markets, not trigger selling.
- Fearing the strong data could pressure the Federal Reserve to raise interest rates, investors reacted with alarm. The Nasdaq Composite lost over 3.8% on Friday, marking its steepest single-day drop since April 2025.
- Kansas City Fed President Jeffrey Schmid said Thursday that inflation numbers have 'crept up into the 3.50% range,' presenting an early test for newly installed Fed Chair Kevin Warsh. High energy costs persist, with diesel averaging $5.38 a gallon.
- Trump has repeatedly tied his political fortunes to economic performance heading into November midterms, yet critics argue modern central banking has fundamentally changed how job growth translates to market gains. This disconnect undermines his economic messaging.
- How Warsh navigates his first Federal Open Market Committee meeting, scheduled for June 16-17, could prove decisive for markets and the administration's economic narrative. Analysts warn real wages will continue to fall, complicating the administration's growth story.
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Podcasts & Opinions
32 Articles
32 Articles
Trump stunned as stocks fall on great jobs report. Barclays explains why ‘we are entering the warning zone'
“With a great Jobs Report, like just announced, stocks should go up, not down," Trump posted. "That's the way it was for 200 years. Growth does not mean inflation!”
·New York, United States
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Chicago TribuneReposted by 
Fairbanks Daily News-Miner
Fairbanks Daily News-MinerThe US job market is strong but many Americans are still frustrated by prospects and rising prices
The American job market continues to show surprising strength — good news for President Donald Trump who has taken a beating in the polls over the surging gasoline prices that followed U.S. and Israeli attacks on Iran.
·Chicago, United States
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Coverage Details
Total News Sources32
Leaning Left5Leaning Right8Center11Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 21%
C 46%
R 33%
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