Payroll employment grew by 139,000 in May with unemployment unchanged at 4.2%, according to a report from the Bureau of Labor Statistics released Friday.<\/p>\n
Republicans and the Trump administration are touting the numbers as evidence of the administration\u2019s \u201cpro-growth policies.\u201d However, some financial experts warn the market is showing signs of cooling.<\/p>\n
White House Press Secretary Karoline Leavitt attributed the numbers to a \u201cbooming economy\u201d and the administration\u2019s American first policy.<\/p>\n
In a statement, Leavitt said, \u201cPresident Trump\u2019s America First Economic Agenda has created a BOOMING economy \u2013 jobs are up, unemployment is down, wages are increasing, and inflation is dead. More than 139,000 good jobs were added to the private sector in May, all accounted for by American-born workers. Americans should continue to trust in President Trump, who continues to beat expectations.\u201d<\/p>\n
The inflation rate of 2.3% through April \u2013 May will be released on Wednesday \u2013 is the lowest since 2021 when former President Joe Biden inherited 1.4% in January and it was still 1.7% in February. It reached 9.1% in June 2022<\/a> and was 3% for January of this year.<\/p>\n – Advertisement –\n<\/p>\n Despite the White House\u2019s rosy outlook, economists say the market is showing signs of cooling, warning that wages may change.<\/p>\n \u201cThe labor market is strong, but cooling,\u201d said Jamie Cox, managing partner for Harris Financial Group. \u201cI expect this report, with all its revisions to bring the Fed back into cutting mode in July. Wages are stable, for now, but that is likely to change in the coming months. One of the biggest factors with labor is housing \u2013 the housing market is showing early signs of trouble, and a cooling labor market will make that worse.\u201d<\/p>\n