The U.S. economy added 313,000 new jobs in the month of February, according to the February 2018 Employment Situation report published today by the Bureau of Labor Statistics.
“Job growth was the strongest since President Trump’s election, with 313,000 jobs created in the month of February. The non-stop job creation since the election has yielded 2.9 million jobs. For the fifth month in a row, the unemployment rate remained at 4.1%, a 17-year low. Goods-producing industries such as manufacturing, mining and logging, and construction collectively had the highest month-to-month growth since 1998. These were among many sectors experiencing significant growth.
“President Trump’s tax reform continues to boost economic confidence with more than 400 companies handing out bonuses, raises, or other benefits to more than 4 million Americans. Today’s report shows that average hourly earnings significantly increased in February and have increased by 2.6% over the last year. We saw positive movement in the labor force participation rate, and we would like to see that continue over the coming months.”
In total, 2.92 million jobs have been added to the U.S. economy since President Trump was elected – including 263,000 manufacturing jobs since President Trump took office. In addition, the number of long-term unemployed Americans is the lowest since 2008.