The economy added 298,000 jobs in February, far exceeding expectations of economists surveyed by ADP. The jobs report blew away those economists predicted 198,000 jobs would be added this month, and those who said Trump’s presidency would lead to an economic disaster.
“Confidence is playing a large role,” Moody’s Analytics chief economist Mark Zandi told CNBC. “Businesses are anticipating a lot of good stuff – tax cuts, less regulation. They are hiring more aggressively.”
This is due to President Trump’s message on the economy, his hire American buy American motto, and the slashing of regulations that are completely eradicating small businesses and certain industries, such as the Coal industry. You see this mirrored in the stock market that is now hitting record highs.
“Dive deeper into the numbers and it becomes even clearer that Trump and the American people were far more prescient than expert opinion” reports Breitbart.com. While lower-productivity service-sector jobs dominated many past jobs reports, this report shows a notable shift toward a more balanced economy. Services added 193,000, with 66,000 coming from professional and business services. Goods producers added 106,000 jobs. Construction jobs grew by 106,000. Manufacturing jobs grew by 32,000.
This is only one month’s worth of data, and of course is subject to change. The market and economy can be volatile things, though the sweeping optimism in the business sector is hard to miss. This report shows a snapshot in time telling us that employers are optimistic about the future.
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