After Friday's unexpectedly positive May jobs report, President Trump's campaign is mocking the "doomsday economists" whose predictions didn't pan out — despite that group including Trump's economic advisers.
The Trump campaign put out a statement on Friday celebrating the report from the Labor Department showing the unemployment rate declined to 13.3 percent and the economy added 2.5 million jobs, a shocking result when economists forecasted the unemployment rate would rise to almost 20 percent with more than eight million jobs lost.
"Doomsday economists had predicted a loss of 8.5 million jobs in May, but the economy roared back and added 2.5 million jobs instead, thanks to President Trump's leadership and the solid foundation his policies have laid," a statement from campaign manager Brad Parscale said.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Trump also called out the inaccurate predictions in a Rose Garden press conference celebrating the numbers, describing what he called the "greatest miscalculation in the history of business shows."
But Kevin Hassett, White House economic adviser, was forecasting a grim May jobs report too, having suggested that the unemployment rate would soar to 20 percent or more. In an interview with CNN less than two weeks ago, he said he expected the unemployment rate to be "quite a bit higher" in May than in April, possibly "north of 20 percent."
Additionally, White House economic adviser Larry Kudlow warned last month after April's report that "the numbers for May are going to be also very difficult numbers," predicting that the economy starting to reopen wouldn't have an effect for "a while."
-
Marie Antoinette Style at the V&A: a ‘magnificent’ exhibitionThe Week Recommends The UK’s first show dedicated solely to the French queen explores the complex woman behind the ‘bling’
-
8 riveting museum exhibitions on view in the fallThe Week Recommends See Winslow Homer rarities and Black art reimagined
-
Crossword: September 18, 2025The Week's daily crossword
-
House posts lewd Epstein note attributed to TrumpSpeed Read The estate of Jeffrey Epstein turned over the infamous 2003 birthday note from President Donald Trump
-
Supreme Court allows 'roving' race-tied ICE raidsSpeed Read The court paused a federal judge's order barring agents from detaining suspected undocumented immigrants in LA based on race
-
South Korea to fetch workers detained in Georgia raidSpeed Read More than 300 South Korean workers detained in an immigration raid at a Hyundai plant will be released
-
DC sues Trump to end Guard 'occupation'Speed Read D.C. Attorney General Brian Schwalb argues that the unsolicited military presence violates the law
-
RFK Jr. faces bipartisan heat in Senate hearingSpeed Read The health secretary defended his leadership amid CDC turmoil and deflected questions about the restricted availability of vaccines
-
White House defends boat strike as legal doubts mountSpeed Read Experts say there was no legal justification for killing 11 alleged drug-traffickers
-
Epstein accusers urge full file release, hint at own listspeed read A rally was organized by Reps. Ro Khanna and Thomas Massie, who are hoping to force a vote on their Epstein Files Transparency Act
-
Court hands Harvard a win in Trump funding battleSpeed Read The Trump administration was ordered to restore Harvard's $2 billion in research grants
