First Trump Administration Jobs Report: 235,000 New Jobs, 4.7% Unemployment
President Trump has celebrated two blow-out jobs reports out earlier this week and today’s BLS report is no different.
The Bureau of Labor statistics employment situation summary report showed that the economy gained 235,000 jobs while analysts had only expected between 190,000 and 220,000.
The surprise jump in hiring drops the unemployment rate to 4.7%.
The largest job gains came in construction, private educational services, manufacturing, health care, and mining.
In February, construction employment increased by 58,000, with gains in specialty trade contractors of 36,000 and in heavy and civil engineering construction of 15,000. Construction has added 177,000 jobs over the past 6 months with a large chunk of hiring under President Trump’s policies.
Manufacturing added 28,000 jobs in February and 57,000 jobs over the last three months indicating an acceleration.
Private educational services added 29,000 while health care employment rose by 27,000 jobs.
In February, average hourly earnings increased by 6 cents to $26.09, following a 5-cent increase in January while worker hours stayed steady at 34.4 hours per week.
December’s jobs numbers were revised downward from an increase of 157,000 to only 155,000 new jobs while January was revised upwards from a 227,000 increase to 238,000.
President Trump wasted no time in tweeting about the incredibly positive employment numbers:
The trend continues the surprise seen in reports from LinkedIn and ADP earlier this week.
On Wednesday, Trump tweeted the LinkedIn report first:
LinkedIn Workforce Report: January and February were the strongest consecutive months for hiring since August and September 2015
— Donald J. Trump (@realDonaldTrump) March 8, 2017
Then came his celebration of the blowout ADP jobs number:
Great news. We are only just beginning. Together, we are going to #MAGA! https://t.co/4QayxcKjoR pic.twitter.com/fOuQkzzgRH
— President Trump 45 Archived (@POTUS45) March 8, 2017