WOW: Jobs SURGE in March As Unemployment Drops to LOWEST in Years
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Under Barack Obama, the economy floundered. Across the country, Americans lost their jobs and businesses were forced to close. This was a huge factor in Donald Trump’s victory in November — people hoped that he would improve the economy. And so far, judging by March jobs numbers, he’s doing just that.
(Photo by Tim Boyle/Getty Images)
According to the Bureau of Labor Statistics, the United States created 98,000 jobs in March, with the unemployment rate dropping to 4.5%, an almost 10-year low. While the unemployment rate improved greatly, the jobs numbers were a bit disappointing. Economists expected 180,000 jobs in March, following the average of 218,000 jobs in January and February. But those jobs were largely the result of weather, which was unusually warm for winter this year and economists expected that job growth would fall in March.
Construction jobs have had strong gains in recent months, while retail, education and health services either lost jobs or failed to gain. Still, economists seem to be optimistic. “Job growth this year is running close to last year’s pace and is running well ahead of what is needed to keep up with labor force growth,” Gus Faucher, chief economist at PNC Financial Services, said.
Economists also expect a rebound in jobs in the April-June quarter. More good signs include the fact that more homes are being built and home sales are reaching their highest in a decade. Overseas growth is also expected to provide a boost to the economy.
Do you think Trump is on the right track to fixing the economy?
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