Unemployment Jumps Suddenly In May Jobs Report

The latest jobs report sent mixed signals, showing joblessness ticking up after a long stretch of low unemployment while the economy added new jobs faster than expected.

The unemployment rate unexpectedly jumped to 4% last month, according to the May jobs report, released Friday by the Labor Department.

For the past 27 months, the unemployment rate had remained below 4%, the longest such stretch since the 1960s.

The unemployment rate for black Americans jumped to 6.1% from 5.6%, while for white people, the unemployment rate remained lower than the overall rate at 3.5%.

The labor force participation rate also dipped suddenly to 62.5%, mostly due to young workers between the ages of 20 and 24 abandoning the job market.

Meanwhile, the U.S. economy added jobs faster than expected last month, although much of that growth was in part-time jobs, while the number of full-time jobs has fallen. A year ago in May, there were over a million more full-time jobs than there were last month.

Also, many of the new jobs went to migrants.

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The number of U.S.-born workers fell last month by 663,000 to about 130,445,000. Meanwhile, the number of foreign-born workers rose by 414,000.

Employers added 272,000 new non-farm jobs last month, beating economists’ estimates of about 180,000 jobs and a 3.9% unemployment rate.

Most of the new jobs appeared in health care with 68,000 additional jobs, government with 43,000 jobs, and leisure and hospitality with 42,000 jobs.

Manufacturing and construction jobs also ticked higher last month.

The high number of new jobs could discourage officials at the Federal Reserve from cutting interest rates this year since they have been waiting for the job market to cool while unemployment remains low.

Despite the robust job gains, the Labor Department’s household survey showed 408,000 fewer people working last month.

Wage gains exceeded expectations, with average hourly pay rising by 0.4% in May from the previous month. This brings the average hourly wage up 4.1% over the past year.

President Biden celebrated the jobs report, declaring in a release, “On my watch, 15.6 million more Americans have the dignity and respect that comes with a job.”

At the same time, former President Trump’s campaign slammed the jobs report in one of the campaign’s daily emails, calling the report “yet another indication that ‘Bidenomics’ does not work.”

The economy has loomed large as the election cycle heats up, with voters saying inflation is their top concern, according to recent polls. Immigration and the crisis at the border has also polled as a top issue in recent months, at times even eclipsing the economy.

If Biden’s D-Day Speech Sounded Familiar, There’s A (Reagan) Reason

In 1984, then-President Ronald Reagan gave a moving speech commemorating the 40th anniversary of the D-Day invasion on the beaches of Normandy, France — and 40 years later, for the 80th anniversary, President Joe Biden appears to have given at least parts of the same speech.

Radio host and Outkick founder Clay Travis noticed the similarities and share video of the two speeches side by side. “Joe Biden essentially plagiarized Ronald Reagan’s famous 1984 speech at Pointe du Hoc today in Normandy. Watch these clips side by side. Wow,” he commented.

WATCH:

Joe Biden essentially plagiarized Ronald Reagan’s famous 1984 speech at Pointe du Hoc today in Normandy. Watch these clips side by side. Wow: pic.twitter.com/jeGgTS2Nnm

— Clay Travis (@ClayTravis) June 7, 2024

What followed was a series of clips showing Biden’s remarks and then Reagan’s.

Biden: “At last the hour had come. Dawn. The 6th of June, 1944.”

Reagan: “At dawn, the morning of the 6th of June 1944.”

Biden: “225 American Rangers arrived by ship, jumped into the waves, and stormed the beach.”

Reagan: “225 Rangers jumped off the British landing craft and ran to the bottom of these cliffs.”

Biden: “Gunfire rained above them, but still they kept coming. Nazi grades thrown from above exploded against the cliffs, but still they kept coming.”

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Reagan: “The Rangers looked up and saw the enemy soldiers at the edge of the cliffs, shooting down at them with machine guns and throwing grenades. And the American Rangers began to climb.”

Biden: “They launched their ladders, ropes, and grappling hooks, and they began to climb.”

Reagan: “They shot rope ladders over the face of these cliffs and they began to pull themselves up.”

Biden: “When the Nazis cut their ladders, the Rangers used their ropes. When the Nazis cut the ropes, the Rangers used their hands.”

Reagan: “When one Ranger fell, another would take his place. When one rope was cut, a Ranger would grab another and begin his climb again.”

Biden: “And inch by inch, foot by foot, yard by yard, the Rangers clawed — literally clawed — their way up this mighty precipice until at last they reached the top.”

Reagan: “Soon, one by one, the Rangers pulled themselves over the top.”

Biden: “They breached this Atlantic wall, and they turned with that one effort, the tide of the war that began to save the world.”

Reagan: “And in seizing the firm land at the top of these cliffs, they began to seize back the continent of Europe.”

Several critics pointed out that when it came to plagiarism, a cribbed D-Day speech would not be Biden’s first rodeo.

“Joe Biden: Once a plagiarist, always a plagiarist,” Steve Guest posted, noting that a previous plagiarism scandal had ultimately forced Biden out of contention in the 1988 Democratic presidential primary.

Joe Biden: Once a plagiarist, always a plagiarist. https://t.co/dT1ekc1oU5 pic.twitter.com/vuWEw9aRB7

— Steve Guest (@SteveGuest) June 7, 2024

“Why would he do this? Why invite a direct comparison with Reagan with whom no president could ever compete in telling this story, much less one as inarticulate as Biden?” Marc Thiessen added.

Why would he do this? Why invite a direct comparison with Reagan with whom no president could ever compete in telling this story m, much less one as inarticulate as Biden? https://t.co/YwsFWabgtb

— Marc Thiessen 🇺🇸❤️🇺🇦🇹🇼🇮🇱 (@marcthiessen) June 7, 2024

“If only there was a history of plagiarism with Biden, then it might represent a pattern. Oh wait…” another posted.

If only there was a history of plagiarism with Biden, then it might represent a pattern.

Oh wait… https://t.co/J0FiOyhkCd

— IT Guy (@ITGuy1959) June 7, 2024

“‘Hey AI. Write me a speech about Normandy,'” the U.S. Oil and Gas Association posted. “Tell us your comms team doesn’t understand that things happened prior to 2018 when they graduated from college without telling us that they don’t understand that things happened prior to 2018 when they graduated from college …”

“Hey AI. Write me a speech about Normandy.”

Tell us your comms team doesn’t understand that things happened prior to 2018 when they graduated from college without telling us that they don’t understand that things happened prior to 2018 when they graduated from college…. https://t.co/yvG7EInZRE

— US Oil & Gas Association (@US_OGA) June 7, 2024

But while the speech patterns were very similar — a fact that Biden’s defenders claimed was simply because both presidents were describing the same events — former Governor Scott Walker (R-WI) noted a marked difference between the demeanor of the two men. Reagan, 73 at the time he gave the 40th anniversary speech, appeared to be in good health as he stood tall and saluted the veterans present that day. Biden, in contrast, raised eyebrows when he appeared unsure whether he was supposed to sit or stand — and was then escorted from the ceremonies while French President Emmanuel Macron remained behind, speaking with the veterans and guests.

“What a difference between President Ronald Reagan on the 40th anniversary of D-Day and President Joe Biden on the 80th anniversary of D-day,” Walker said, sharing side-by-side photos of the two presidents.

What a difference between President Ronald Reagan on the 40th anniversary of D-Day and President Joe Biden on the 80th anniversary of D-day. pic.twitter.com/i4EWPLwjl4

— Scott Walker (@ScottWalker) June 7, 2024

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