According to a report released Wednesday, the American economy created 263,000 jobs indicating accelerating growth in the critical manufacturing and construction sectors.
“The U.S. labor market finished the first quarter on a strong note,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Consumer dependent industries including healthcare, leisure and hospitality, and trade had strong growth during the month.”
The report blew out analysts estimates who had only expected 187,000 new jobs in the month of March.
The report comes after February’s amazing increase giving indications that the vaunted ‘Trump effect’ is not wearing off.
The jobs increase is another success for the Trump administration. In the past 36 hours the White House has reported that Trump has removed more regulations than all presidents combined and been highly successful curbing illegal immigration.
The official employment is due out Friday and analysts expect only 177,000 new jobs in that report. With the ADP numbers again surprising to the upside, expect that report to beat expectations as well.