ITS NOT JUST A TRUMP BUMP, ITS TRUMP MAKING AMERICA GREAT AGAIN …
The jobs numbers are in for President Donald Trumps first full month in the White House and they are fantastic. The U.S. economy added 235,000 jobs in February and the unemployment rate at 4.7%. However, look for this number ti go back up as millions of people will get back into the work force as they see jobs are being created. During the 2016 campaign Donald Trump promoted jobs, jobs, jobs and it appears that he is coming trough on that promise creating an environment favorable to business and job growth. From CNS News, a record 152,528,000 Americans were employed in February, 447,000 more than in January, and the labor force participation rate went up, the Labor Department’s Bureau of Labor Statistics reported on Friday. Also, job gains for December and January were revised up by 9,000. December’s was revised to 157,000 from 155,000, and January’s to 238,000 from 227,000.
The U.S. economy added a robust 235,000 jobs in February, the Labor Department said Friday.
The unemployment rate ticked down to 4.7%. Unemployment peaked at 10% in 2009, after the financial crisis.
Economists say it will be a challenge for Trump to fulfill his promise to create 25 million jobs over the next 10 years. The unemployment rate is already very low, and many Baby Boomers have either retired or left the job market.
At least in his first full month, though, Trump is on pace to fulfill that promise.
Last year the economy averaged about 190,000 new jobs per month. The economy is showing other signs of strength: Consumer and business confidence is high and stocks are at record levels.
Wage growth continued showing signs of progress after persisting at a sluggish pace for years until 2016. Wages grew a solid 2.8% in February compared with a year ago.
The participation rate, which shows the share of working-age people in the labor force, increased to 63 percent, the highest since last March, from 62.9 percent. It has been hovering close to the lowest level in more than three decades.
The number of people out of the labor force, a figure repeatedly highlighted by Trump as a sign of economic malaise, fell by 176,000 to 94.2 million.
Sixty-three percent of Americans either held a job or actively looked for one in February, the highest participation rate in ten months.
The number Americans not in the labor force continued to drop, to 94,190,000 in February, 176,000 fewer than in January and well below the record of 95,102,000 set in December 2016.
And there’s more good news in the February jobs report, the first one to cover a full month of the Trump presidency:
According to BLS, the economy added 235,000 jobs last month and the February unemployment rate dropped a tenth of a point to 4.7 percent.
The 94,190,000 million people counted as not participating in the labor force in February includes millions of baby boomer retirees, students, the disabled, homemakers and others who do not work for various reasons.