That’s how many jobs were added in February, while the unemployment rate fell from 4.8 percent to 4.7 percent, the Labor Department reported on Friday. That exceeded analysts’ expectations, and President Donald Trump has already retweeted the Drudge Report attributing these jobs to his young presidency.
But on Thursday, Politico reported that the forthcoming jobs report “will be the first to measure employment gains that occurred entirely under Trump’s presidency,” but “while Trump may claim credit, it’s not clear he will deserve it.”
“One of the most important elements of analyzing labor market reports is that they’re lagging indicators so they tend to be a reflection of what has been happening in the economy in the prior six months to a year,” Frances Donald, senior economist at Manulife Asset Management, told the publication. “The jobs numbers that we’ll see six months from now will probably be a better reflection of the new administration.”
It’s also curious that Trump is now embracing jobs reports, after repeatedly dismissing them last year as fake.
If the president were honest, he’d be saying what all Americans should be saying about this good economic news: Thanks, Obama.