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February Jobs Report Brings Further Signs Of Economic Growth

- March 10, 2017

February Job Statistics Reveal Job Growth And Decreasing Unemployment 

FEBRUARY JOBS REPORT

The Unemployment Rate Decreased From 4.8 Percent To 4.7 Percent In February. ( Bureau Of Labor Statistics , Accessed 3/10/17)

The Number Of Unemployed Workers In February Decreased From 7.64 Million To 7.53 Million. ( Bureau Of Labor Statistics , Accessed 3/10/17)

In February, The Nation Gained 28,000 Manufacturing Jobs. ( Bureau Of Labor Statistics , Accessed 3/10/17)

Nonfarm Payroll Increased By 235,000 In February. ( Bureau Of Labor Statistics , Accessed 3/10/17)

In February, The Nation Gained 58,000 Construction Jobs. ( Bureau Of Labor Statistics , Accessed 3/10/17)

The Real Unemployment Rate, Including Those That Are Working Part-Time Due To Economic Reasons, Decreased From 9.4 Percent To 9.2 Percent In February. ( Bureau Of Labor Statistics , Accessed 3/10/17)

The Number Of Americans Who Are Unemployed, Underemployed Or Have Given Up Looking For Work Decreased From 15.23 Million To 14.95 Million. (Bureau Of Labor Statistics, Accessed 3/10/17)

  • The Number Of Workers Working Part-Time For Economic Reasons Decreased From 5.84 Million To 5.70 Million. ( Bureau Of Labor Statistics , Accessed 3/10/17)
  • The Number Of Americans That Were Marginally Attached To The Labor Force In February Decreased From 1.75 Million To 1.72 Million. ( Bureau Of Labor Statistics , Accessed 3/10/17)

The Labor Force Participation Rate Increased From 62.9 Percent To 63.0 Percent In February. ( Bureau Of Labor Statistics , Accessed 3/10/17)

The Unemployment Rate For 16-24 Year Olds Decreased From 10.1 Percent To 9.9 Percent In February. ( Bureau Of Labor Statistics , Accessed 3/10/17)

The Unemployment Rate For 20-24 Year Olds Decreased From 8.3 Percent To 8.0 Percent In February. ( Bureau Of Labor Statistics , Accessed 3/10/17)

The Unemployment Rate For 25-34 Year Olds Decreased From 4.9 Percent To 4.8 Percent In February. ( Bureau Of Labor Statistics , Accessed 3/10/17)

The Hispanic Unemployment Rate Decreased From 5.9 Percent To 5.6 Percent In February. ( Bureau Of Labor Statistics , Accessed 3/10/17)

Average Hourly Earnings For All Employees Increased From $26.03 To $26.09 In February. ( Bureau Of Labor Statistics , Accessed 3/10/17)

This Month's Jobs Report Far Exceeds Expectations

This Month's Job Reports Exceeds Projections By 50,000 Jobs. "The market currently expects the report to show growth of about 185,000 jobs." (Jeff Cox, "Job Creation Posts Blowout Month In February: 289,000 Jobs Added To Private Sector," NBC News , 3/8/17)

This Month's Jobs Reports Contains The Biggest Pickup In Goods Producing Jobs Since 2000. "Biggest pickup in goods-producing jobs since 2000, with construction jobs rising by 58,000 and manufacturing increasing by 28,000." (Annalyn Kurtz, Twitter Feed , 3/10/17)

Construction Jobs Are At A 10 Year High And Manufacturing Jobs Gained 28,000 Jobs, A Three Year High. " Construction jobs, which can fluctuate depending on the weather, rose by 58,000, the most since March 2007, and followed a 40,000 increase in January. Manufacturing payrolls gained 28,000, a three-year high." (Patricia Laya, "U.S. Jobs, Wages Show Solid Gains In Trump's First Full Month," Bloomberg , 3/10/17)

The Positive Jobs Report Follows Several Recent Indications Of A Strong Economy Under President Trump

In February 2017, Consumer Confidence Index Rose To 114.8, Its Highest Level In More Than 15 Years. "Consumers' assessment of current conditions in the U.S. increased in February, according to a monthly survey released on Tuesday. The Consumer Confidence Index hit 114.8 in February, according to data from The Conference Board, the highest since July 2001." (Berkeley Lovelace Jr., "Consumer Confidence Hits 114.8 In February, Versus 111 Estimate," CNBC , 2/28/17)

  • According To The Conference Board, Expectations Have Improved Regarding The Economic Outlook And Consumers Expect The Economy To Keep Expanding In The Months Ahead. "Expectations improved regarding the short-term outlook for business, and to a lesser degree jobs and income prospects. Overall, consumers expect the economy to continue expanding in the months ahead." ("Consumer Confidence Survey," The Conference Board , 2/28/17)
  • Consumers Expect The Number Of Jobs And Income To Grow In The Coming Months. "The proportion expecting more jobs in the months ahead increased from 19.7 percent to 20.4 percent, while those anticipating fewer jobs declined from 14.4 percent to 13.6 percent. The percentage of consumers expecting their incomes to increase rose marginally from 18.1 percent to 18.3 percent, while the proportion expecting a decrease declined from 9.4 percent to 8.2 percent." ("Consumer Confidence Survey," The Conference Board , 2/28/17)

Gallup's U.S. Economic Confidence Index Hit The Highest Weekly Average In 9 Years . "Many Americans either gained or regained economic optimism last week, as Gallup's U.S. Economic Confidence Index soared seven points to hit +16. This marks the highest weekly average in Gallup's nine-year trend." (Andrew Dugan, U.S. Economic Confidence Index At Record High Of +16," Gallup , 3/7/17)

In February 2017, The Bloomberg Consumer Comfort Index Rose To A 10 Year High. "Consumer comfort index rose to 50.6 in the period ended March 5, the highest since March 2007, from 49.8." (Austin Weinstein, "U.S. Consumer Comfort Just Reached Its Highest Level In A Decade," Bloomberg , 3/9/17)

  • The Gauge Of The Economy Is The Highest In 15 Years. "Gauge of economy advanced to 48.2, the highest since August 2001, from 46.8." (Austin Weinstein, "U.S. Consumer Comfort Just Reached Its Highest Level In A Decade," Bloomberg , 3/9/17)
  • The Buying Climate Measure Is The Strongest In Almost 15 Years. "Buying-climate measure rose to 44.5, the strongest reading since April 2002, from 43.7." (Austin Weinstein, "U.S. Consumer Comfort Just Reached Its Highest Level In A Decade," Bloomberg , 3/9/17)

The Consumer Gauge Has Gone Up Five Of The Last Six Weeks Since President Trump Took Office. "Stock indexes near record highs and persistent strength in the job market have lifted the consumer comfort gauge in five of the last six weeks since the inauguration of President Donald Trump." (Austin Weinstein, "U.S. Consumer Comfort Just Reached Its Highest Level In A Decade," Bloomberg , 3/9/17)

The Improved Economic Outlook And Performance Has Been Cited As A Result Of President Trump's Pro-Growth Agenda

President Trump's Pro-Growth Agenda Is Spurring Businesses To Hire "Aggressively." "'Confidence is playing a large role,' Mark Zandi, chief economist of Moody's Analytics, told CNBC. 'Businesses are anticipating a lot of good stuff - tax cuts, less regulation. They are hiring more aggressively.'" (Jeff Cox, "Job Creation Posts Blowout Month In February: 289,000 Jobs Added To Private Sector," NBC News , 3/8/17)

Consumers And CEOs Are "Excited" For President Trump's Pro-Growth Agenda. "But the reason consumers and CEOs are so excited is because they expect Trump to get going on his 'pro-growth agenda.'" (Heather Long, "There's One Thing Going Right For Trump," CNN , 2/17/17)


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