President Donald Trump and his cabinet are trumpeting the data from the latest jobs report from the Bureau of Labor Statistics (BLS) as the nation prepares to celebrate its 249th birthday.
The BLS report claims the US economy added 147,000 new jobs in June and unemployment lowered from 4.3% to 4.1%.
Economists had forecasted only roughly 100,000 jobs would be added.
Consequently, President Trump and Republicans have credited the unexpectedly positive economic data as evidencing the soundness of their economic agenda.
“President Trump is delivering WIN after WIN for the American people,” said the GOP in an official statement.
According to the BLS report, state government and health care gained the highest numbers of jobs while the Federal government lost jobs.
Employment for women and whites increased while decreasing for blacks.
Hispanics and Asians experienced scant employment shifts.
Republicans also recently celebrated reports of shrinking inflation.
BLS measured smaller growth in the Consumer Price Index (CPI), which increased 0.1 percent on a seasonally adjusted basis in May, after rising 0.2 percent in April.
The decrease from 0.2 to 0.1 means inflation is rising at a lower rate, even if still increasing.
“Inflation in May came in LIGHTER THAN EXPECTED for yet another month,” said the White House. “Inflation has come in BELOW economists' expectations every single month since President Trump took office.”
Driving inflation’s decrease are products like gasoline and fuel oils, which have each seen dramatic price decreases since Trump took office.
Conversely, energy prices rose dramatically during former President Joe Biden’s administration.
According to LBS data, natural gas and electricity prices rose 35% and 30%, respectively, while President Biden was in office.
Moreover, overall prices increased a whopping 20% during Biden’s tenure.
Republican lawmakers consequently brandished the slowdown in inflation as proof that Trump’s economic agenda is helping the American economy recover.
“Promises made, promises kept,” exclaimed Senator Rick Scott (R-FL).
