STATEMENT BY U.S. SECRETARY OF LABOR ACOSTA ON MAY JOBS REPORT
WASHINGTON, DC – U.S. Secretary of Labor Alexander Acosta today issued the following statement regarding the May 2019 Employment Situation report:
"May's job report added 75,000 jobs. We seek to continue job growth by opening more opportunities through policies like USMCA moving forward.
"For 15 months in a row, the unemployment rate has been at or below 4.0% as May's unemployment rate remained at 3.6%, the lowest rate since 1969. Hispanic-Americans and Americans with disabilities maintained their series low unemployment rates at 4.2% and 6.3%, respectfully.
"At 3.1%, wage growth continued a 10-month streak of being at or above 3.0%, which remains encouraging."
According to the Council of Economic Advisors for the White House, "On top of the good news about job growth, the report indicates that wages are rising, too. Nominal average hourly earnings in April rose by 3.2 percent over the past 12 months, marking the 9th straight month that year-over-year wage gains were at or above 3 percent. Prior to 2018, nominal average hourly wage gains had not reached 3 percent since April 2009. Taking inflation into account, there is more evidence that real wages are also growing. Based on the most recent Personal Consumption Expenditures (PCE) price index data from March, inflation in the past year was 1.5 percent, and, based on the most recent Consumer Price Index (CPI-U) price data from March, inflation in the past year was 1.9 percent. This offers evidence that real wages are rising, and people are able to purchase more goods and services with their larger paychecks."
"With continued positive job growth, sustained low unemployment, and rising real wages, the economy continues to thrive."