Bessent: Today’s jobs report understates the underlying strength of the real economy
With President Trump’s policies, the fundamentals for American prosperity are in place because American workers are the best in the world. Today’s jobs report understates the underlying strength of the real economy: Main Street is building, factories are producing, and workers are becoming more productive. July marks the 5th straight month of goods-producing job growth. By creating 105K jobs so far this year, goods-producing employment has had the best 7-month start since 2023. Additionally, productivity growth rose more than double the rate expected in Q2, bolstering the conditions for durable growth and real wage gains for American workers.
Strong Q3 growth expectations further show that the economy is positioned to accelerate. When America produces more and workers become more productive, Main Street wins: higher wages, stronger businesses, more options for customers, and a durable expansion built on inflation-reducing supply-side strength rather than a temporary sugar high.
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