TrumpBump-U.S. companies added a massive 298,000 new jobs in February shattering expectations by a margin of over 100,000 dollars
The report from ADP provided the numbers for the first full month of the Trump presidency.Construction jobs increased by 66,000 in February, and the manufacturing sector added 32,000.
The year is off to a sizzling start for job creation, according to the ADP counts. With a massive amount of jobs being added to the US economy.
These number fit with the message Trump’s message of improving the U.S. employment market by luring businesses from overseas and stopping jobs from fleeing across the border.
“Confidence is playing a large role,” Mark Zandi, chief economist of Moody’s Analytics, told CNBC. “Businesses are anticipating a lot of good stuff — tax cuts, less regulation. They are hiring more aggressively.”
Trump responded to the new job statistics on Twitter
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
Goods producers added 106,000 of the new jobs, with construction jobs swelling by 66,000 – the most in 11 years – and manufacturing jobs by 32,000.
“Companies employing 500 or more workers increased staffing by 72,000 jobs; payrolls rose by 122,000 at medium-sized businesses, or those with 50 to 499 employees, the most in three years; while small companies’ payrolls gained 104,000, an eight-month high,” reports Bloomberg.
Heres a breakdown of job growth over the past year