A day after celebrating the House passing the American Health Care Act (AHCA), President Donald Trump received some additional positive news as the U.S. economy grew in April.
On Friday, the Labor Department released that 211,000 jobs were added last month. That surpasses predictions by economic analysts who projected that market payrolls would increase by 190,000. The unemployment rate also fell Friday to 4.4 percent. That is the lowest rate since 2007.
US unemployment hits 4.4%, lowest in a decade – CNN Money https://t.co/LetS15sAhk
— Jake Tapper (@jaketapper) May 5, 2017
Average hour earnings improved by 2.5 percent to $26.19 from this time last year. Most gains in the economy came from the leisure and hospitality, healthcare, and finance sectors.
U.S. job growth in 2017 running at 99% of 2016's pace, running at 90% of 2015 pace (Jan.-Apr)
— West Wing Reports (@WestWingReport) May 5, 2017
According to the New York Times, the administration’s solidly pro-business agenda and promises to cut taxes, eliminate regulations and repair infrastructure has buoyed many executives.
Surveys of owners of small and medium-size businesses show they are optimistic about the economy, despite several weak economic indicators, said Cathy Barrera, an economics professor at Cornell University and the chief economic adviser for ZipRecruiter, an online jobs platform. But many employers have yet to act on their stated intentions to add workers. “The thing that stands out most,” Ms. Barrera said, is the “gap between that optimism and the follow-through on that optimism.”