The February jobs numbers were released this morning and they were smoking hot. With unemployment already at its lowest level over 17 years, 313,000 jobs were added last month—that’s the most jobs created in a month since the summer of 2016.
Not only were hundreds of thousands of jobs created, but over 800,000 people entered the labor force. Manufacturing employment increased by 31,000 jobs last month following a gain of 25,000 jobs the month before. Since Trump took office, manufacturing employment has gained steadily following a two-year period of stagnation.
Clearly, despite the negative press coverage, the corporate and individual tax reform package has been a boon for the economy—and don’t under estimate deregulation. No way manufacturing employment would be humming like it is without the more business friendly administration.
Jeremy Jones, CFA
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