Jobs report no longer phony, Trump says

WASHINGTON (AP) — President Donald Trump is embracing authorities numbers he as soon as maligned as “phony” as he tries to take credit score for the newest U.S. jobs report.

The brand new administration on Friday promoted Labor Division statistics that present U.S. employers added 235,000 jobs in February. The unemployment fee dipped to four.7 % from four.eight %.

“Nice information for American staff: financial system added 235,000 new jobs, unemployment price drops to four.7% in first report for @POTUS Trump,” tweeted White Home Press Secretary Sean Spicer. “Not a nasty solution to begin day 50 of this administration,” he later stated.

What a distinction from final yr’s presidential marketing campaign, when Trump repeatedly assailed the report’s legitimacy.

Again then, candidate Trump denounced “phony unemployment numbers” he claimed had been invented to make the Democrats look good.

“Do not consider these phony numbers if you hear four.9 and 5 % unemployment. The quantity’s in all probability 28, 29, as excessive as 35,” he stated final February, on the day of the New Hampshire presidential main.

“The 5 % determine is among the largest hoaxes in trendy politics,” he stated.

That is final yr’s 5 %, not the brand new numbers reported on his watch.

Requested concerning the obvious disconnect, Spicer provided a smile and a quip: “I talked to the president previous to this, and he stated to cite him very clearly: ‘They could have been phony up to now however they’re very actual now.'”

Throughout a speech on the Detroit Financial membership final yr, Trump pointed to figures that present one in 5 American households don’t have a single member within the labor drive. He failed to say the one in 5 consists of youngsters, younger individuals in class and senior residents who’re retired.

Although the jobless report has been criticized by others for omitting individuals who aren’t actively looking for work, it offers a benchmark that’s just like most different nations.

Whereas enterprise and shopper confidence have risen because the presidential election, economists additionally say it is too quickly for Trump to be taking credit score for jobs.

“No new financial insurance policies have but been enacted,” stated Scott Anderson, chief economist at Financial institution of the West. As an alternative, he pointed to an unusually delicate winter that doubtless boosted hiring by development companies.

Chilly climate in February sometimes shuts down work websites throughout a lot of the nation. However final month was the second-warmest February since 1895, serving to development companies add probably the most new jobs in a decade.

A survey of small companies exhibits that their optimism is up because the election, reaching the very best degree in 12 years in January, in line with the Nationwide Federation of Unbiased Enterprise. Different measures additionally present higher enterprise confidence.

However most of the company bulletins of latest jobs that Trump has promoted — by ExxonMobil, Intel and Ford, for instance — will happen over a few years and have been…

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