As all the extremist, left-wing candidates for the Democrat nomination for president continue to cry about how bad President Trump is, the era of Trump just keeps getting better with yet another great jobs report.
The U.S. economy just added an additional 196,000 jobs in March. And the unemployment rate has fallen to 3.8 percent, the government said Friday.
Economists only forecasted that about 170,000 jobs would be created in the last period.
Job growth in the health care field was very strong with 49,000 new jobs added. Construction added 16,000 jobs, while restaurants added another 27,000.
With the latest report, not only have an astounding 196,000 jobs been created, but unemployment is now at an unheard of 3.8 percent.
Just for a comparison, for many decades going back all the way to the 1970s, economists and government statisticians always said that “full employment” was when the unemployment rate dipped to 5 percent. By “full employment,” they meant that everyone who really wanted a job was able to get one and the few who were not working were either not employable, or refused to work.
For a long time, economists maintained that it was basically impossible to go much less than 5 percent unemployment and that any country with around 5 percent unemployment had a near perfect economy.
And Trump just got it to 3.8 percent!
Thus far in the era of Trump the U.S. economy has added a whopping 5.6 million jobs.
The government report added:
Average hourly earnings for all nonfarm employees on private nonfarm payrolls rose by 4 cents to $27.70, following a 10-cent gain in February. Over the past 12 months, average hourly earnings have increased by 3.2 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 6 cents to $23.24 in March.
Last week’s applications for unemployment benefits came in at 202,000, the lowest level in nearly 50 years.
Follow Warner Todd Huston on Twitter @warnerthuston.