Companies in the private sector saw a wave of jobs pour in throughout the month of February, according to a new report by ADP and Moody’s Analytics.
In the private sector, 298,000 jobs were created in February alone; according to the report, 66,000 were added within the construction industry and 32,000 within the manufacturing industry.
This is the first jobs report representing a full month President Donald Trump has been in office, CNBC reports. Trump said the country’s infrastructure would be a top priority during his campaign.
— Donald J. Trump (@realDonaldTrump) March 8, 2017
“February proved to be an incredibly strong month for employment with increases we have not seen in years,” Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said in a statement.
ADP previously estimated that only 190,000 jobs would be added in the private sector in the month of February.
“Confidence is playing a large role,” Mark Zandi, chief economist at Moody’s Analytics, told CNBC. “Businesses are anticipating a lot of good stuff — tax cuts, less regulation. They are hiring more aggressively.”
CNBC reports the growth can be seen in the following areas:
- Services – 193,000 jobs
- Small businesses – 104,000 jobs
- Large businesses – 72,000 jobs
- Mining and natural resources – 8,000 jobs
January added 261,000 new jobs, as well, according to CNBC, which reports that there is a positive sentiment in the jobs market, overall.
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