Friday, March 10, 2017

Trump’s First Economic Report Card: A Strong 235,000 Jobs Added in February

The first full jobs report of the Trump administration came in like a lion: America added 235,000 new jobs to the economy in February, beating analyst expectations that had pegged the monthly figure at 190,000, and paving the way for a Fed rate hike. 

Data from the Bureau of Labor Statistics also showed that the unemployment rate ticked down from 4.8 percent to 4.7 percent, indicating that slightly fewer Americans are out looking for work.

Wage growth, a key indicator that disappointed in January but had a strong showing in December, at 2.9 percent — the biggest uptick in seven years — also improved for February, hitting 2.8 percent year on year. Higher wages indicate a tighter labor market, with employers forced to offer better pay to attract workers. 

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Source: NBC News 

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