President Donald Trump reacted to news the United States added 162,000 jobs to the economy in August, noting it broke “all estimates” by double and triple.
In a post on Truth Social, Trump continued to call for lowering “the interest rates because the U.S.A. is a much stronger credit than it was just a short time ago.” Trump added that the U.S. “should have the LOWEST RATE of any country in the World.”
“Great jobs number just announced, breaking all estimates (except mine!) by double and triple – And you haven’t seen anything yet!” Trump said. “EMPLOYERS ADDED 162,000 JOB IN AUGUST.”
“Lower the interest rates because the U.S.A. is a much stronger credit than it was just a short time ago!” Trump continued. “A STRONG COUNTRY MEANS A LOWER INTEREST RATE – IT’S A BETTER CREDIT… Very simple!”
Trump’s post continued in part:
We should have the LOWEST RATE of any country in the World, like “the old days.” Without the United States agreeing to allow them their big surpluses, and we could stop that immediately, they would no longer be considered financially ELITE! LOWER THE RATE OR I’LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT, which the U.S. Supreme Court, in its ridiculous and very costly Tariff decision, strongly acknowledged “the President” has an absolute right to do. IT’S BETTER THAN TARIFFS! The Fed Board, with its great new leader, must get smart – BE PATRIOTS for a change. High interest rates put the U.S.A. at a very unfair disadvantage, and I won’t allow that to happen!
Trump’s post on the jobs report comes as economists had been predicting that the U.S. would “add 55,000 jobs” to the economy. Economists had also predicted that the unemployment rate would increase to 4.2 percent for August, up from 4.1 percent the previous month.
Breitbart News’s John Carney reported that “the previous month’s reported job loss was revised away”
The previous month’s reported job loss was revised away. The July estimate was revised up by 44,000, from a loss of 23,000 to a gain of 21,000. The June gain was revised up by 11,000 to 31,000. After these revisions, employment in June and July combined is 55,000 higher than previously reported.
The private sector added 127,000 jobs in August, far more than the 53,000 expected. The prior month’s gain of 30,000 was revised up to 71,000.
Manufacturing payrolls rose by 16,000, above the 5,000 estimated. The July estimate was revised up from a gain of 5,000 to a gain of 14,000. Durable goods added 15,000 jobs in August after adding 24,000 in July and 13,000 in June.
In response to the jobs report, Sen. Tim Scott (R-SC) praised the Trump administration and Congress for prioritizing “American jobs from day one.”
“This administration and Congress have prioritized American jobs from day one,” Scott wrote in a post on X. “The August jobs report proves it: 162,000 private sector jobs added to the U.S. economy. More jobs. More opportunity.”
Read the full article here
