Lance Statement on 3.8% Unemployment

WESTFIELD, N.J.  — Congressman Leonard Lance (NJ-07) issued the following statement responding to the May jobs report:

“Today’s economic report is good news for the United States, job seekers and the federal coffers.  Wages have increased and unemployment rates are the lowest in decades.  All this success could be undermined by the imposition of new tariffs on aluminum and steel imports.  I urge the Trump Administration to reconsider its decision in light of today’s excellent employment report.  Let’s keep the economy going strong.”

The Labor Department reported Friday that unemployment fell to 3.8% in May – matching its lowest point in half a century.  Since 1969, the only other time unemployment has been this low was in April 2000.

The economy added 223,000 jobs.  The job gains were broad. In April, the economy added 159,000 jobs after revisions. Over the past year, the economy has added an average 191,000 jobs a month.

Wages grew 2.7% in May compared with a year earlier

Unemployment has fallen steadily since the Great Recession. It peaked at 10% in 2009.