The Trump effect is in motion as today we’ve just found out that there’s a record number of Americans employed, with the construction sector seeing the largest gain in 10 years and, on top of that, the national debt decreased with $60 billion since inauguration.
The participation rate grew constantly after Donald Trump’s victory, with over 152, 528,000 Americans being employed in February, which means there are 447,000 more people with jobs than in the previous month, according to a Friday statistic from the Labor Department’s Bureau of Labor.
63% of Americans either actively looked for a job or held one in February which marks the highest participation in 10 months, while the number of Americans which are not counted in the labor force continued to drop to 94,19 million in February, which is 176,000 fewer people compared to January and almost one million below the grim record of 95.102 million from December of 2016.
The unemployment rate dropped to 4.7 percent while the economy created 235.000 jobs in February alone. The 94+ million currently not in the labor force includes millions of students, baby boomer retirees, homemakers, the disabled etc yet the figure is important as all these people are still benefiting from Social Security, health insurance subsidies, Medicaid, Medicare and various entitlements paid basically by those who do work.
Construction payrolls grew to 58,000 which makes for the biggest figure since 2007, while the mining sector created 7700 jobs, with mining employment adding 20,000 jobs since last October alone.
Under The Donald, America’s labor market is getting great again by almost any metrics or measure, with wages, payrolls and workforce participation all showing great improvement.