U.S. Employers Added A Robust 235,000 Jobs In February
The U.S. added 235,000 jobs in February, while the unemployment rate nudged down a tenth of a percentage point to 4.7 percent. The monthly report released Friday by the Bureau of Labor Statistics fell roughly in line with economists' expectations: Healthy economic growth continuing January's strong showing.
The number of unemployed Americans saw little change last month, as well, hovering at roughly 7.5 million people.
At the same time, the January payroll number was revised to 238,000 jobs, up from last month's initial estimate of 227,000.
As NPR's John Ydstie reports for our Newscast unit, the economy had already shown signs of momentum ahead of Friday's report. Growth in construction jobs had helped a private sector report earlier this week exceed expectations.
John explains that part of that boost might arise from anticipation of policies President Trump has promised: a combination of hefty tax cuts and infrastructure investment.
"President Trump won't be shy about claiming credit for a good number even though his main economic policies are not yet in place," John notes. "However, the expectation of big tax cuts and infrastructure spending may have contributed to some additional hiring by businesses."
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