The U.S. economy is continuing the 77-month-long expansion of the labor market that started under former President Barack Obama. 235,000 jobs were added to the economy in February, and the unemployment rate fell to 4.7 percent.
During his campaign President Trump painted a dreary picture of the economy and argued that serious shortcomings under the Obama administration were to blame. He continually told supporters not to believe the numbers being reported by the labor department and called the monthly figures one of the “biggest hoaxes.”
Now that the numbers are attributable to his administration, he seems perfectly content to embrace them.
Job gains have averaged 209,000 over the past three months and there has been a steady rate of growth since October 2010.