President Trump on Friday touted the November jobs report that showed stronger than expected growth — and predicted the number of people working in the US would soon eclipse the “magic mark” of 160 million.
“It was just reported that we added another 266,000 jobs in November. So we’ve had 266,000 jobs, plus we’ve created 7 million since my election. A record of 158 million Americans are now working. That’s the largest number in the history of our country, and we should be breaking the 160 million magic mark very soon,” Trump said at the White House during a meeting with businesspeople celebrating his deregulation efforts.
“I will tell you the market is up 325 points today. Our great job numbers, the numbers have been phenomenal, actually, some people said so spot on, so good that they’ve actually never seen anything like it,” the president said, and the Dow continued to rise to 335 at the closing bell.
“It’s a long way from when people were rooting for a recession because they thought they maybe could win an election, but we don’t root for a recession, we root for success, and we’re having tremendous success,” Trump continued.
He also hailed the overall economy and that the unemployment rate ticked down to 3.5 percent.
“It’s been an incredible period of time economically for our country, probably the best ever. We have the best unemployment numbers for 54 years. And we have the best numbers for African-Americans, this came out today again, African-American, Hispanic, Asian-American, the best numbers we’ve ever had,” he said.
“Numbers for women are at a record number. We think that probably if it keeps going like this it will very shortly be totally historic. But they’re at numbers that nobody believed possible,” he continued.
US job growth increased by the most in 10 months in November as the healthcare industry boosted hiring and production workers at General Motors returned to work after a strike, the strongest sign yet the economy is in no danger of stalling.
The unemployment rate ticked back down to its lowest level in nearly half a century and wage gains remained near their strongest in a decade, the Labor Department’s closely watched monthly employment report showed on Friday.
The numbers suggest consumers will keep the longest economic expansion in history, now in its 11th year, chugging along into next year when Americans will decide whether to re-elect Trump.