Friday’s jobs report smashed expectations again, showing the labor market is far healthier than corporate media suggests. In April, 115,000 jobs were created, and the unemployment rate remained at 4.3%.
These job gains follow a string of strong labor market indicators this week. ADP private payrolls increased by 109,000, driven by small businesses. The latest JOLTS report showed hiring surged and quits increased, a key sign that workers are confident they can find better opportunities. Thursday’s jobless claims held at a historically low 200,000.
Main Street is driving these employment gains. U.S. Census data shows small business creation is hovering at a record level, approximately 20% above the post-pandemic average.
The boom traces back directly to last July’s Republican tax cuts, which made it easier for small businesses to start, expand and hire. According to the Small Business Administration, 12 million American small businesses got an average tax cut of over $7,000.
It’s not just tax cuts helping Main Street. In 2025 alone, the SBA guaranteed a record $45 billion in lending to 85,000 small businesses through local banks. The U.S. also secured $18 trillion in investment last year, compared with only $1 trillion over four years under the Biden administration.
And the Trump administration has cut 129 regulations for every new one added.
While high inflation and gas prices are significant headwinds, job creators understand that this time they are truly transitory — a stark contrast to the prolonged Bidenflation.
The media claims these job-creation numbers are “a surprise,” but in reality, they reflect a Main Street economy growing under conservative policies.
The media also misleadingly compares Trump’s job gains to Biden’s. However, they fail to note that under the previous administration, millions of illegal immigrants juiced the jobs reports. In fact, the Kansas City Fed estimates that the number of jobs needed each month to keep the unemployment rate steady has fallen from around 150,000 to roughly 50,000 due to Trump’s border closure.
The media also ignores the difference in job composition. Under Biden, 25% of jobs came from unproductive government positions. Under President Trump, 100% of job creation has come in the productive private sector — i.e., entrepreneurs, innovators, and small businesses.
The jobs report shows federal employment fell again last month and is now down 11% since Trump took office, a huge limited government achievement.
Republicans can build on this economic momentum by leveraging their Congressional majority to pass additional pro-growth reforms through reconciliation. At the top of this list is indexing capital gains taxes to inflation. That would protect small businesses, homeowners, investors, and retirees from paying taxes on phantom gains caused solely by inflation. According to the Tax Foundation, one-third of capital gains are attributable purely to inflation.
Correcting this injustice would go a long way to fixing the retirement savings crisis, immediately increasing the real value of brokerage accounts and real estate.
It is the natural next step for Republicans after last year’s Working Families Tax Cut and would be a huge win for the GOP to take back to voters for campaign season.
Alfredo Ortiz is CEO of Job Creators Network, author of “The Real Race Revolutionaries,” and co-host of the Main Street Matters podcast.
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.
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