Unemployment unchanged at 3.8 percent as labor markets remain strong in Trump economy

April 5, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement on the latest jobs numbers:

“Payroll employment increased by 196,000 as the unemployment rate held steady at 3.8 percent. These are historically great numbers and emphasize the continued strength of the Trump economy particularly in labor markets.

“There was a slight decrease in labor participation that appears to have been driven by Baby Boomers leaving the labor force in the unadjusted dataset, because the 16-to-64-year-old participation and employment continues to grow there robustly while the number of seniors participating in labor markets decreased by 150,000. That said, it is hard to square the unadjusted data with what we see overall in the seasonally adjusted data, which is why the Bureau should really begin compiling a seasonally adjusted 16-to-64-years-old dataset as a leading indicator. Every month that goes by, as the Baby Boomers retire en masse, it throws off meaningful apples to apples comparisons.”

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