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- Private sector jobs rose by 235,000 beating expectations by 40,000
- Continues trend of 200k+ jobs growth
Jobs continued to grow above analyst expectations in February, according to the newest Moody’s/ADP report.
Wall Street economists had expected 195,000 new jobs in the previous month, but the booming economy brought in by President Donald Trump’s “America First” economic policies created a climate where private payrolls grew by 235,000 continuing the growth seen over the previous three months.
Private sector job growth has stayed above 200,000 for four consecutive months indicating that the economy is in danger of slowing down anytime soon.
“The job market is red hot and threatens to overheat,” Mark Zandi, chief economist at Moody’s, said in a statement. “With government spending increases and tax cuts, growth is set to accelerate.”
The growth occurred across both service and manufacturing sectors with leisure and hospitality leading the way with 50,000 new jobs, while business services added 46,000 and another 44,000 jobs were added in trade, transport and utilities.
Manufacturing jobs increased by 37,000, reversing a downward trend that President Obama was unable to stop.