President Donald Trump on Friday took a victory lap following a strong jobs report, pointing to the subsequent stock market surge and highlighting the economic impact of his tariffs.
“GREAT JOB NUMBERS, STOCK MARKET UP BIG! AT THE SAME TIME, BILLIONS POURING IN FROM TARIFFS!!!” he posted on Truth Social.
The U.S. economy added 139,000 jobs in May, exceeding forecasts of 120,000. Unemployment held steady at 4.2%. The economy added 147,000 in April. As of press time, the Dow Jones Industrial Average was up 1.07%, by nearly 500 points.
May’s data served as something of a vindication for Trump, who faced intense criticism over his Liberation Day tariffs, which the Congressional Budget Office this week conceded would reduce federal deficits by $2.8 trillion over 10 years, after accounting for their overall economic impact.
