With the news of Donald Trump defeating Hillary Clinton, the economy saw an immediate increase and unemployment dipped. However, as Democrats began blocking Trump’s agenda, the economy sagged for a couple of months and unemployment stabilized. However, as Trump has been able to get more of his agenda into place, employers are responding by hiring more workers, thus dropping the unemployment rate down to 4.4%, the lowest it has been since May 2007.
The pace of hiring picked up again in April and the unemployment rate fell to the lowest level in nearly a decade, providing reassurance the broader economy is poised for a strong spring after a lackluster start to the year.
Nonfarm payrolls rose by a seasonally adjusted 211,000 in April from the prior month, the Labor Department said Friday.
The unemployment rate for April edged down to 4.4% from the prior month’s 4.5% reading. The unemployment rate hasn’t been this low since May 2007–and that matched the lowest rate of any point during the prior expansion. The low rate could keep the Federal Reserve on track to gradually raise it’s short-term interest rate this year.
Obama’s policies set a record as the first one to cause unemployment to rise to 8.0 or higher for 40 consecutive months. President Donald Trump’s impact is already being felt as the latest unemployment rate is lower than any time during Obama’s reign of terror. I can’t help but wonder if part of this unemployment figure is due to Trump’s crackdown on illegal aliens?