Good news for the final month of President Obama's administration: the economy added a robust 227,000 jobs, well above last year's average monthly gain of 175,000.
This report accounts for 76 consecutive months of positive job growth - a run never seen in the history of the United States.
The unemployment rate moved up slightly to 4.8 from 4.7, mainly because more Americans started looking for work.
President Trump proudly boasted about the numbers, which is interesting since none of his policies had been implemented to have an effect on hiring.
Via The Huffington Post:
Trump used to love complaining about the Labor Department’s monthly report, which tallies the number of jobs gained and the unemployment rate.
The unemployment rate hovered around 5 percent for most of the presidential campaign, which economists consider a decently low number. “Don’t believe those phony numbers when you hear 4.9 and 5 percent unemployment,” Trump said last February. “The number’s probably 28, 29, as high as 35. In fact, I even heard recently 42 percent.”
But now, the same metric is suddenly real? #hypocrisy
Interestingly, Fox News suddenly found these numbers "fantastic" today when during the Obama administration better numbers than these were down played.
From Media Matters:
The positive coverage of the report is a complete turnaround for Fox, which went to great lengths to portray strong jobs reports in a negative light during the Obama administration.
In February 2015, the economy added 257,000 new jobs, but Fox was concerned that the unemployment rate ticked up by 0.1 points -- the same increase the rate showed in today’s report. In October of that year, Fox & Friends stumbled through a news alert in which a host claimed the economy created “only 271,000 jobs … last month” even though that report, like the data released today, also beat expectations. Last January, Fox’s spin was to claim that 292,000 new jobs was “modest by historical standards,” though it was well over this month’s 227,000.