The U.S. Bureau of Labor Statistics report released on Friday revealed that the economy added 148,000 jobs in December; the unemployment rate remains at 4.1 percent.
The American unemployment rate remains at 4.1 percent for the third consecutive month, as roughly 6.6 million Americans continue to look for work.
Average hourly private-sector wages rose by 2.5 percent compared to last year. In November wages rose by 2.4 percent.
The American economy continues to boom under President Donald Trump. Over 100 American companies gave their employees up to $2,000 in bonuses after Trump signed the historic Tax Cuts and Jobs Act. Several corporations such as AT&T, Comcast, and Nationwide also increased their 401(k) match rate, raise their minimum wages, and increased domestic investment because of the Republican tax bill.
John Kartch, Americans for Tax Reform’s (ATR) vice president of communications, said, “Small businesses from across the country are sending me news of their tax-cut bonuses, wage hikes, and charitable donations. Many of these were only announced internally. There is a broad and deep tsunami building.”
Reports suggest that Apple will repatriate roughly $200 billion in foreign cash because of the Tax Cuts and Jobs Act.
American unemployment claim benefits remain at a record 17-year low and American consumer sentiment reached its highest level since 2000.
The Dow Jones industrial average traded above 25,000 for the first time on Thursday morning, breaking yet another economic milestone.
President Donald Trump tweeted on Friday, “Dow goes from 18,589 on November 9, 2016, to 25,075 today, for a new all-time Record. Jumped 1000 points in last 5 weeks, Record fastest 1000 point move in history. This is all about the Make America Great Again agenda! Jobs, Jobs, Jobs. Six trillion dollars in value created!”