The Trump Job Boost Is On!
A report put out the by the Labor Department on Friday shows that the U.S. added 227,000 jobs in January.
As reported at CNBC, the U.S. created 227,000 jobs in January, 2017. This is the first jobs report of the Donald Trump presidency and it is HUGE!
The jobs number is much greater than the analyst expected one of 175,000 jobs. Also, according to the Bureau of Labor Statistics, the civilian labor force increased by 584,000 in January, and the labor force participation rate rose by 0.2 percentage point to 62.9%.
Nonfarm payrolls grew by 227,000 in January while the unemployment rate edged higher to 4.8 percent, the Bureau of Labor Statistics reported Friday.
Economists surveyed by Reuters expected payrolls to grow by 175,000, compared with 57,000 in December, and the unemployment rate to hold steady at 4.7 percent.
The report was the first since President Donald Trump took office on Jan. 20. In the past, Trump has been critical of the unemployment rate, saying it understates the actual level of joblessness.
Friday’s report comes amid a mostly positive climate for economic data. The Citigroup Economic Surprise Index is running around multiyear highs thanks in part to jumps in consumer and business confidence as well as stronger-than-expected readings on manufacturing and home sales.