No – unemployment has actually risen since Donald Trump took office in January 2025. The U.S. jobless rate climbed to 4.3% in August, the highest in nearly four years, compared to around 3.7% at the end of 2024.

Job growth has slowed sharply, with only 22,000 jobs added in August, down 70% from a year earlier. Long-term unemployment now accounts for 25.7% of all jobless Americans, the highest share since early 2022.

Economists point to Trump’s mass deportations, tariffs, and federal job cuts as key factors tightening labor supply and hurting sectors like agriculture and manufacturing. While the White House touts early gains in private-sector hiring and wage growth, recent data and Fed statements confirm that the labor market is “cooling off,” prompting interest rate cuts to prevent a deeper slowdown.