Jobs report

Trump hits all-time high approval rating in Gallup poll

Photo: Drew Angerer/Getty Images

President Trump hit a 46% approval rating in Gallup's tracking poll, the highest thus far in his presidency.

The big picture: Gallup notes that Trump's bump is likely due to good economic news — higher than expected GDP and jobs growth — and the administration's interpretation of the Mueller report, which the president erroneously claimed exonerated him of allegations of collusion and obstruction.

U.S. adds 263,000 jobs in April as unemployment hits near 50-year low

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 263,000 jobs in April, blowing past the 180,000 economists were expecting, the Labor Department said on Friday, while the unemployment rate dropped from 3.8% to 3,6% — the lowest since December 1969.

The big picture: Average hourly wage growth rose 3.2% on an annual basis, which is somewhat slower than before. That's not great for workers, but it could be a sign that there's still slack in the labor market and room for more job growth.