The US economy continues to roar to life under President Trump and the Republican-controlled Congress, with new data showing job growth smashed expectations and added over 230,000 positions in February alone.
According to CNBC, private-sector employment exceeded industry expectations of an already-healthy figure of 195,000 jobs; making February the fourth consecutive month that passed the 200,000 or higher mark.
“The job market is red hot and threatens to overheat,” said a chief economist at Moody’s. “With government spending increases and tax cuts, growth is set to accelerate.”
More surprisingly, employment in private-sector construction rose by over 20,000 in just one month, signaling a healthy boost for the American housing market and real estate.
“In terms of business size, the gains again were spread: Medium-sized firms (50-499 employees) led with 97,000. Large businesses and small firms contributed 70,000 and 68,000 respectively,” writes CNBC.
The strong economic data comes as large companies -such as AT&T, Walmart, Disney, Starbucks, FedEx, American Airlines, and others- announced higher wages, big bonuses, and expanded benefits after President Trump signed the sweeping tax overhaul into law last year.