Surpassing what economists predicted, job growth in January confirms that Donald Trump is delivering his promises.
Job growth of 185,000 in January would have been good news. But jobs grew instead by 234,000!
These new jobs indicate, again, that lowering taxes and reducing regulations is the right thing to do if you want economic growth. If this kind of growth had occurred under Obama, the media would have made sure that he got the credit.
Economists surveyed by Reuters had been looking for private payrolls to grow by 185,000.[…]
Within that [Service] sector some of the better-paying industries showed solid gains: Trade, transportation and utilities led with 51,000, education and health services added 47,000 and professional and businesses services contributed 46,000. Leisure and hospitality services also grew by 46,000.
On the goods-producing side, manufacturing added 12,000 jobs while construction saw 9,000 new hires despite the traditionally slow month for the industry.
“The job market juggernaut marches on,” Mark Zandi, chief economist at Moody’s Analytics, said in a statement. “Given the strong January job gain, 2018 is on track to be the eighth consecutive year in which the economy creates over 2 million jobs. If it falls short, it is likely because businesses can’t find workers to fill all the open job positions.”
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