Another win for Trump as last months numbers come in and get analyzed by experts, the consensus seems to be that the economy boomed in the last month, largely thanks to conservative practices and renewed faith in the US economy after the election of President Trump.
There have been roughly 235,000 jobs added in February, and apparently job wages have also risen slightly but steadily. Unemployment, meanwhile fell to a new and sits at 4.7 percent, falling from 4.8 in January. According to various statistics services on job search websites, more Americans launched job searches this month, which lifts the proportion of Americans that are working or looking for work to the new highest numbers it has been at in a year. The labor force participation number rose to 63 percent which is a new high considering the last ten months.
The Daily Mail reports:
The healthy job growth, decent pay gains and falling unemployment rate will make the Federal Reserve even more likely to raise short-term rates when it meets next week.
Fed Chair Janet Yellen said last week that it would be ‘appropriate to gradually increase the federal funds rate if the economic data continue to come in about as we expect.’
The job gains were boosted by 58,000 new construction jobs, the most in nearly a decade. That figure was likely boosted by unseasonably warm weather in much of the nation.
Wage gains were also recorded in February; average hourly earnings rose six cents, or 0.2 percent, to $26.09.
And in the manufacturing sector, payrolls rose by 95,000 new positions, the highest such one-month increase since March of 2000.
Trump himself said repeatedly during his presidential campaign that some Bureau of Labor Statistics numbers are not trustworthy.