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first_imgThis article is more than 1 year old Share on Twitter Share via Email The latest gains were in retail trade, healthcare and construction, and wage growth picked up modestly.Photograph: Eduardo Munoz/Reuters After comment on US adding 223,000 new jobs in May, economic advisers chair says Trump should never get data in advance again Fed proposes changes to rule limiting risky trading on Wall Street This article is more than 1 year old US economy Read more Donald Trump Share on LinkedIn news Share on Twitter US economy Donald Trump broke with years of protocol on Friday, commenting on the US’s latest jobs report an hour before its official release.The Bureau of Labor Statistics announced at 8.30am that the US had added 223,000 new jobs in May as the unemployment rate slid t0 3.8%, its lowest level since April 2000 and one of the lowest levels since after the second world war.Trump, who has taken credit for job market growth despite the fact that it began under Obama, said on Twitter he was looking forward to the release of the monthly jobs report just over an hour ahead of its release. … we have a small favour to ask. The Guardian will engage with the most critical issues of our time – from the escalating climate catastrophe to widespread inequality to the influence of big tech on our lives. At a time when factual information is a necessity, we believe that each of us, around the world, deserves access to accurate reporting with integrity at its heart.More people are reading and supporting The Guardian’s independent, investigative journalism than ever before. And unlike many news organisations, we have chosen an approach that allows us to keep our journalism accessible to all, regardless of where they live or what they can afford. But we need your ongoing support to keep working as we do.Our editorial independence means we set our own agenda and voice our own opinions. Guardian journalism is free from commercial and political bias and not influenced by billionaire owners or shareholders. This means we can give a voice to those less heard, explore where others turn away, and rigorously challenge those in power.We need your support to keep delivering quality journalism, to maintain our openness and to protect our precious independence. Every reader contribution, big or small, is so valuable. Support The Guardian from as little as $1 – and it only takes a minute. Thank you. Shares4545 That fall in participation was partly responsible for the latest dip in the unemployment rate, said the Economic Policy institute.“About two-thirds of the drop in the unemployment rate in May was because workers found jobs, while about one-third of the drop was from people leaving the labor force,” wrote EPi economist Elise Gould in a blog post. Jason Furman, chairman of the Council of Economic Advisers under Obama, said Trump should never again be given sight of the figures before their release.“You should have gotten the employment numbers from the Council of Economic Advisers yesterday. And if this tweet is conveying inside information about a particularly good jobs number you should never get them in advance from the Council of Economic Advisers again,” he wrote on Twitter.The latest gains were in retail trade, healthcare and construction, and wage growth – which has been slow since the end of the recession – picked up modestly. From a year ago, wages were up 2.7% – better than the 2.6% growth economists had forecast.So far this year the US has now added 207,000 new jobs a month, continuing a record nine-year streak of job creation.The strong numbers come as some economists worry that a threatened trade war could damage the US economy and as investors fret that the news will further pressure the Federal Reserve to speed up the rate at which it increases interest rates.But the report highlighted once again that many Americans remain on the sidelines despite the tightening labor market. The labor force participation rate, which measures the percentage of workers in jobs or looking for work, edged down to 62.7% from 62.8% in April – levels last seen in the 1970s. Topics Share on Facebook Dominic Rushe in New York Donald J. Trump (@realDonaldTrump)Looking forward to seeing the employment numbers at 8:30 this morning.June 1, 2018 @dominicru Last modified on Fri 1 Jun 2018 17.00 EDT Support The Guardian Since you’re here… Following his tweet, treasury yields moved sharply higher. The monthly report is one of the most market sensitive pieces of economic information released by the government and is carefully guarded ahead of its release.For anyone other than the president, the comment would likely lead to an investigation or likely firing. The report is given to senior White House officials the day before its release but is usually closely protected. Employment Read more Trade war? What you need to know about US steel tariffs Trump appears to comment on jobs report before its official release Share on Pinterest Reuse this content Fri 1 Jun 2018 09.22 EDT Share via Email Share on WhatsApp Share on Messenger Share on Facebooklast_img