President Donald Trump moved Friday to reassure investors and highlight the latest employment data after U.S. stock markets suffered their steepest declines of the year, even as a new jobs report exceeded expectations.
The market downturn surprised many observers because it came on the same day the federal government reported stronger-than-expected job growth. The economy added 172,000 jobs in May, significantly outpacing economists’ projections of 85,000 new positions, while the unemployment rate remained unchanged at 4.3%.
Despite the positive labor market figures, investors headed for the exits. The S&P 500 dropped 2.6% on the day, while the Nasdaq plunged 4.2%, marking the worst trading session of the year for both indexes.
Trump quickly weighed in on the disconnect between the jobs report and the market reaction.
“With a great Jobs Report, like just announced, stocks should go up, not down,” Trump wrote on Truth Social.
“That’s the way it was for 200 years. Growth does not mean inflation! How else can a Country attain GREATNESS???” he added.
The president’s comments reflected frustration that strong employment data failed to generate investor confidence. Rather than reversing course after his post, however, stocks continued sliding throughout the remainder of the trading session.
Several hours after the markets closed, Trump returned to Truth Social with a longer message celebrating the jobs numbers and criticizing his political opponents as well as economists who had underestimated the month’s employment gains.
“Despite the best efforts of the America Hating Dumocrat Party, which did its very best to DESTROY the U.S.A. during the four long years of the Autopen Administration, over 172,000 AMERICANS found Jobs in the month of May alone!” Trump wrote.
The president also mocked Bloomberg economists for missing the mark on their forecasts and argued that the latest figures demonstrated the strength of the economy despite widespread skepticism.
“As usual, 100 PERCENT of Bloomberg Economists … underestimated our Economy,” Trump wrote.
Using a weather-themed comparison, Trump argued that the economy is generating jobs at a rapid pace.
“They always say ‘April showers bring May flowers.’ Well, here in the ‘HOTTEST’ Country in the World, in both April AND May, IT’S RAINING JOBS!” Trump declared.
While the White House focused on the encouraging employment figures, Wall Street appeared more concerned with other factors affecting the broader economy. Friday’s selloff was led by declines in semiconductor and artificial intelligence companies, sectors that have played a major role in driving market gains in recent years.
The downturn also came against a backdrop of continued economic uncertainty. Consumer sentiment fell in May for the third consecutive month as Americans remained concerned about inflation. Those concerns have persisted amid the ongoing closure of the Strait of Hormuz and continued debate surrounding Trump’s tariff policies.
The contrasting signals from the economy underscore a growing divide between employment data and investor sentiment. On one hand, hiring remains stronger than many economists predicted, and unemployment remains relatively stable. On the other, financial markets have shown increasing sensitivity to concerns about inflation, trade policy, and global instability.
The situation highlights a reality that often frustrates policymakers of both parties: strong job creation does not always translate into immediate gains on Wall Street. As economic growth continues and geopolitical tensions remain in focus, investors appear to be weighing a broader set of risks than the jobs report alone.
For Trump, however, the message on Friday remained simple. While markets struggled, he pointed to the addition of 172,000 jobs as evidence that the economy continues to generate employment opportunities and remains stronger than many critics expected.
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