U.S. companies added a solid 235,000 workers to their payrolls in February, the Department of Labor reported Friday morning, while the unemployment and labor force participation rates remained little changed. Because this was the first jobs report covering President Donald Trump's term in office, some conservatives apparently felt compelled to celebrate. Here, for instance, is the Drudge Report's hot take:
Ugh, no. Just no. This month's employment number was strong, yes, but also unexceptional. In January, the U.S. added 238,000 jobs; in September it tacked on 249,000. This time last year, we added 237,000. This month's result fell right within the range we've seen for the past several years. Trump's election might be making Wall Street investors and small businesses more optimistic or whatever, but there is no sign that has translated into jobs. Here's a chart of monthly jobs growth dating back to the Great Recession, for reference.
Donald Trump did not make the jobs report great again. He is still coasting on a solid economy left over from his predecessor's term in office. Frankly, Obama didn't do a great deal to influence the labor market after the first two years of his term, other than stand guard to veto the worst ideas of the GOP. Now, conservatives have a president who's ready to sign whatever legislation they manage to churn out of Congress. Let's see what happens when he starts scribbling his signature on bills.