This is the first major economic report that covers a full period with Trump as president.
The US economy added 235,000 nonfarm payrolls in February, many more than expected, and the unemployment rate dipped to 4.7%, a report from the Bureau of Labor Statistics showed on Friday.
Economists had forecast 200,000 nonfarm payrolls in February, according to a Bloomberg survey. They raised their forecasts Thursday after a report by the payrolls-processing giant ADP showed the private sector added 298,000 jobs in February, many more than expected.
The manufacturing sector saw solid gains last month, according to the BLS and ADP. Economists cautioned, however, that this may have been because of an unusually warm month. This February was the second-warmest on record, likely increasing demand for jobs in industries that involve outdoor work. The construction sector added 58,000 jobs, the most in ten years.
The jobs report was key for the Federal Reserve and President Donald Trump.
At the Fed's policy meeting on March 14-15, it is likely to raise interest rates for the third time since the recovery. This jobs report and other employment data shown in separate surveys during February, the Fed now has its final green light.
Wages were expected to increase after an unexpected drop in January that was revised higher in Friday's report. Average hourly earnings rose by 2.8% year-on-year in January and February.
The labor force participation rate increased to 63%.
For Trump, this is the first major economic report that covers a full period with him as president; the survey week of January's report fell under President Barack Obama. Although he called the jobs report fake during his campaign and said the unemployment rate was a hoax, he is likely to take the credit for this report
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