February was a great month for the American economy and jobs figures after January and December outperformed better than was originally reported.
‘JOBS, JOBS, JOBS!!!’
According to the federal government, 273,000 jobs were added to the U.S. economy in February and the unemployment rate went down to 3.5 percent.
President Donald Trump tweeted on Thursday, “JOBS, JOBS, JOBS!!!”
JOBS, JOBS, JOBS!!! https://t.co/x0olZd3RLu
— Donald J. Trump (@realDonaldTrump) March 6, 2020
RELATED: US Economy Doing Far Better Than Experts Predicted, 266,000 Jobs Created Last Month
Breitbart reports, “Economists had forecast 175,000 nonfarm payroll growth and the unemployment rate to tick down slightly to 3.5 percent from 3.6 percent the prior month. Average hourly earnings were up by 3 percent compared with a year ago. The average workweek climbed a bit to 34.4 hours.”
“December’s estimate of payroll growth was revised upward by 37,000 to 184,000,” Breitbart noted. “January’s number was revised up by 48,000 to 273,000. That adds a total of 85,000 more jobs than had previously been reported putting the three-month moving average at 243,000 jobs.”
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Jobs! Jobs! Jobs!
Another incredible jobs report. Let’s keep this winning going #2020.Economy Added 273,000 Jobs in February – WSJ https://t.co/1GTjWrvoRZ
— Donald Trump Jr. (@DonaldJTrumpJr) March 6, 2020
Increasing Labor Market a Bright Spot of Overall Good Economy
The job market has been one of the more encouraging aspects of the U.S. economy recently, with unemployment dropping down to near 50-year lows and continued labor growth, and with hundreds of thousands of jobs being created with each passing month. This uptick in jobs has encouraged consumer sentiment and along with it, consumer spending, which has helped keep America’s growth relatively strong, particularly when compared with other countries with significant economies.
However, fears about the coronavirus is expected to slow down economic growth this year, but this could be temporary if the outbreak is contained or dissipates sooner than later. As of now, the Labor Department said there was no sign that coronavirus fears damaged February’s employment numbers.
"This is a very strong jobs report. So, for the month of February: U.S economy added 273,000 jobs that was way better than economist were looking for…
"Wages continued to gain for Americans." – CNBC's Sara Eisen. pic.twitter.com/MI2v0HfOUt
— Francis Brennan (Text TRUMP to 88022) (@FrancisBrennan) March 6, 2020
RELATED: Republican Governors Linked With Less Unemployment, More Growth
Good News for President Trump
This growth is obviously good news for President Donald Trump, as the 2020 presidential general election begins to take shape and the two candidates argue over who is best suited to oversee the American economy.
So far, the President has a pretty strong case.
JOBS, JOBS, JOBS – Trump Adds Another 273,000 Jobs in February, Unemployment at 3.5% – Trump Adds 7.1 Million Jobs In Same Time Period Obama Lost (1.3) Million @RealDonaldTrump @DanScavino @JoeHoft
https://t.co/Np7VU5UI5z via @gatewaypundit— Jim Hoft (@gatewaypundit) March 6, 2020