American companies are riding high on the optimism created by President Trump’s election victory, adding a staggering 298,000 jobs to the U.S. economy during Trump’s first month in office.
That monster figure comes from ADP, a payroll processing company that surveys the U.S. job market. The number far exceeded the 190,000 new jobs that economists were forecasting.
President Trump tweeted a self-congratulatory note from the @POTUS account, referencing the long overdue “surging” growth in the jobs market and admitting the numbers are “much more than expected!“
U.S. private sector job creation surging with nearly 300K created last month. Much more than expected! https://t.co/XYf0Sc4eqG
— President Trump (@POTUS) March 8, 2017
The hiring frenzy occurred in President Trump’s first full month in office, as he began staunching the flow of jobs leaking over the border, enriching foreign countries and corporations at the expense of the American people.
And these weren’t part-time minimum wage jobs for the underemployed. Construction jobs increased by 66,000 in February, and the manufacturing sector added 32,000, as Trump has continued luring businesses back to the USA from overseas.
“February proved to be an incredibly strong month for employment with increases we have not seen in years,” Ahu Yildirmaz, vice president of the ADP Research Institute, said in a statement, explaining that President Trump has unlocked the golden goose’s shackles.
“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.“
The news of the massive surge in fresh jobs created by the Trump administration comes after it was revealed Trump reduced the national debt by $12 billion in his first month in office.
Inheriting a national debt of $19,947 billion – an enormous figure that was thought irreversible and had been blowing out by billions every day Obama was in office – President Trump immediately got to work and began turning the situation around.
On February 21st, just month later, the US debt load stood at $19,935 billion – a reduction of $12 billion, and the first time in decades a President has turned the debt clock backwards.
President Trump has years of bad economic governance to undo, but as the results of his first month prove, he is the right man to clean up the mess.