Great news for American workers: 2,35,000 jobs created in Feb; unemployment rate down to 4.7%
 Source : News Bharati English  Date : 15-Mar-2017

Washington, March 15: “Great news for American workers”, over 2,35,000 jobs are created in various sectors of United States in the month of February which has led to the decline of the unemployment rate to 4.7 percent from 4.8 percent. However, it is a good start for the Trump’s administration as its initiative to bring the jobs back for the citizens of America has gained a good momentum.
US president Donald Trump himself tweeted and gave the good news to Americans about the creation of jobs in the month of February. He further gave the data which showed manufacturing gains of 28,000 and health care gains of 27,000. Employment in private education rose by 29,000 and in construction rose by 58,000. There was a 26,000 drop in retail trade following a 40,000 gain in January.

However, the inclusion of 235,000 jobs effectively paves the way for the Federal Reserve to raise its benchmark interest rate. The increase in jobs will also boost confidence in the people of America that the new Trump administration has started to deliver on its promise – creation of new jobs.

Embeded Object“Nonfarm payroll employment rose by 235,000 in February, and the unemployment rate changed little at 4.7 percent. Job gains occurred in construction, private educational services, manufacturing, health care, and mining,” Willian J Wiatrowski, Acting Commissioner Bureau of Labor Statistics, said in a statement.

February’s warm weather may have also played a part in the overall economic momentum and optimism with almost a quarter of the jobs about 58,000 coming from construction alone. There was the increase of 28,000 jobs in the manufacturing sector, 9,000 in food manufacturing, and 7,000 jobs in machinery, while transportation equipment lost 6,000 jobs. Manufacturing has added 57,000 jobs since November, the report said.

Ways and Means Committee Chairman Kevin Brady described this as a great report. The Committee on Ways and Means is the chief tax-writing committee of the United States House of Representatives. “The fact that hundreds of thousands more people found new jobs last month is a good sign that our economy is moving in the right direction,” he said.

“While we still have much more work to do, I’m optimistic that the actions that President Trump and House Republicans are taking will add to this momentum? creating more jobs, growing families’ paychecks, and improving the lives of all Americans,” Brady said while concluding.

Notably, US president Trump during his campaigns always promised to create more and more jobs for Americans.