Jobs report not phony, Trump says, now that it’s his

 March 10
WASHINGTON — President Donald Trump is embracing authorities numbers he as soon as maligned as “phony” as he tries to take credit score for the newest U.S. jobs report.The new administration on Friday promoted Labor Department statistics that present U.S. employers added 235,000 jobs in February. The unemployment fee dipped to four.7 % from four.eight %.

“Great news for American workers: economy added 235,000 new jobs, unemployment rate drops to 4.7% in first report for @POTUS Trump,” tweeted White House Press Secretary Sean Spicer. “Not a bad way to start day 50 of this administration,” he later mentioned.

What a distinction from final 12 months’s presidential marketing campaign, when Trump repeatedly assailed the report’s legitimacy.

Back then, candidate Trump denounced “phony unemployment numbers” he claimed had been invented to make the Democrats look good.

 “Don’t believe those phony numbers when you hear 4.9 and 5 percent unemployment. The number’s probably 28, 29, as high as 35,” he mentioned final February, on the day of the New Hampshire presidential major.

“The 5 percent figure is one of the biggest hoaxes in modern politics,” he mentioned.

That’s final 12 months’s 5 %, not the brand new numbers reported on his watch.

Asked concerning the obvious disconnect, Spicer provided a smile and a quip: “I talked to the president prior to this, and he said to quote him very clearly: ‘They may have been phony in the past, but it’s very real now.’”

During a speech on the Detroit Economic membership final 12 months, Trump pointed to figures that present one in 5 American households would not have a single member within the labor power. He failed to say the one in 5 consists of youngsters, younger folks at school and senior residents who’re retired.

Though the jobless report has been criticized by others for omitting individuals who aren’t actively looking for work, it offers a benchmark that’s just like most different nations.

While enterprise and client confidence have risen for the reason that presidential election, economists additionally say it’s too quickly for Trump to be taking credit score for jobs.

 “No new economic policies have yet been enacted,” mentioned Scott Anderson, chief economist at Bank of the West. Instead, he pointed to an unusually delicate winter that possible boosted hiring by development companies.

Cold climate in February usually shuts down work websites throughout a lot of the nation. But final month was the second-warmest February since 1895, serving to development companies add essentially the most new jobs in a decade.

A survey of small companies exhibits that their optimism is up for the reason that election, reaching the very best degree in 12 years in January, in line with the National Federation of Independent Business. Other measures additionally present higher enterprise confidence.

But most of the company bulletins of latest jobs that Trump has promoted — by ExxonMobil, Intel and Ford, for instance — will happen over a few years and have been already deliberate earlier than the election.

Trump and Republicans have been fast to assert credit score nonetheless.

“The February jobs report exceeded expectations by 50,000 jobs,” mentioned the Republican National Committee in an e-mail, “another sign President Donald Trump’s pro-growth agenda is spurring businesses to hire ‘aggressively.’”

Spicer, in the meantime, might have jumped the gun along with his tweets. A 1985 rule bars govt department officers from commenting publicly on financial knowledge till no less than an hour after its launch. Jason Furman, President Barack Obama’s high financial adviser, mentioned on Twitter that the rule was supposed to forestall White House officers, a few of whom see the report a day early, from instantly spinning the info.

Spicer downplayed that mini- controversy, saying he didn’t assume fortunately touting information that had been broadly reported was “exactly a market disruption.”

“I apologize if we were a little excited and we’re so glad to see so many fellow Americans back to work.”