President Donald Trump said growth in US gross domestic product was higher than the unemployment rate for the first time in over a century, though it's happened several times since 1948, according to historical data reviewed by Bloomberg News.
Gross domestic product increased at a 4.2 annualized rate in the second quarter of 2018, and the unemployment rate was 3.9 percent in April, 3.8 percent in May and 4.0 percent in June.
The Trump administration has been in trouble in the past for inaccurate economic statistics with CNBC reporting that White House spokesperson Sarah Huckabee Sanders made false claims about the black employment rate.
In fact, US GDP growth has been higher than the unemployment rate in several quarters during the last century, including, most recently, in 2006.
"The notion that what we're seeing right now is just a continuation of trends is not super defensible", he said.
Despite Trump's incorrect tweet, both figures are good for Trump, with the GDP growth rate the highest in nearly four years and the unemployment rate the lowest it has been in nearly 18 years. "I have to kind of remind them, actually, those job numbers are the same as they were in 2015 and 2016".More news: USS Ronald Reagan to dock at South Korea port
More news: Lobbyist linked to Manafort pleads guilty, agrees to aid prosecutors
More news: Statement from Senator John McCain
President Donald Trump spent the morning bragging about the economy.
Kevin Hassett, chairman of the Council of Economic Advisers, on Monday told reporters that President Donald Trump tweeted an incorrect claim about the economy.
The economy was, however, struggling when Obama took office in 2009.
The overall U.S. economy grew at a 4.2% annual rate in the second quarter.
In fact, Obama had been talking about manufacturing jobs - not economic growth - and had said, "He just says, 'Well, I'm going to negotiate a better deal.' Well- what - how exactly are you going to negotiate that?" The bulk of that decade of growth was under Obama's presidency, and can fairly be credited to him.
Since Mr Trump took office, after-tax corporate profits are up 15 percent while the S&P 500, a broad-based index of Wall Street stock prices, is up 20%.