Advertisement
Advertisement
About Our People Legal Stuff
AP350240924252.jpg

Dust off those resumes, US employers are hiring

Share

UPDATE 2:20PM EST:  Trump walked back prior remarks, saying jobs numbers are "very real now."

Good news for job hunters.

American employers added a robust 235,000 new jobs in February, according to the Labor Department's monthly jobs report. The unemployment rate also dipped slightly from 4.8 percent in January to 4.7 percent last month.

Wages also rose, showing the U.S. economy is on track to recover after the Great Recession.

This is the first major economic report from President Trump's first full month in office. 


feb_jobs_report_720.png

On the campaign trail he called the jobs report fake, but has also taken credit for an "incredible spirit of optimism" that spurred growth. He will likely take credit for the hiring spree.

In fact, the official jobless rate is right around what's considered full employment. 

Here is what the unemployment rate has looked like for the past seven years in February.

Construction led the pack with 58,000 new jobs, the most in nearly a decade.

The number of Americans ages 25 to 34 back at work has shot up recently, too.

Earlier this week, payrolls processor ADP released a report showing private sector jobs grew by 298,000 in February -- well above expectations.

The Labor Department explained more Americans have begun job hunting, which has lifted the proportion of people working or looking for work. But economists have said these figures, specifically the strong construction ones, likely had something to do with the unseasonably warm weather.

For millennials, who have seen double-digit unemployment numbers, these reports signal better job prospects. "It’s now probably as easy to find jobs as it has been since 2007," Dr. Gary Burtless, Brookings Institution senior fellow in economic studies, told Circa.

It's too early to tell whether this trend of higher workforce participation will stick, but these stats make it more likely the Federal Reserve will hike interest rates.

(The Associated Press contributed to this report.)

Dust off those resumes, US employers are hiring

WATCH | Here's what the February ADP report and a strong economy mean for brand new college grads.

Comments
Read Comments
Comments
Facebook Twitter Instagram Pinterest Linked In List Menu Menu Close Angle Down Angle Up Angle Left Angle Right Grid Grid Play Align Left Search Youtube Mail Mail Angle Down