January saw an increase in jobs created. The Bureau of Labor Statistics said that January saw an increase of 227,000 jobs which was an increase from the monthly job increase average for 2016. Last month’s job increase spanned many different private sector industries. There was even an increase of individuals that jump in to look for work, over 500,000 people. Interestingly, most of them found jobs. This written by Christopher Rugaber, an AP Economist Writer, on Friday, February 3rd. So what caused this better than expected job growth?
Jobs created – President Obama’s Credit
Prior President Obama had 76 straight months of positive job-creation which gained more than 11.5 million jobs. According to the Hamilton Place Strategies, a consulting firm, President Obama is the fourth President to have the highest number of jobs created since World War II. The effects of President Obama’s economic policies have proven solid as proof in over 8 years of continuous job growth. Of course this contributed to some if not most of January job growth.
President Trump’s ?
Since the election of President Trump, there has been positive optimism towards the fulfillment of his campaign promises of bringing jobs back to America. That optimism could have played a part in January’s job increase. “There could be some optimism hiring going on,” says Sung Won Sohn, an economics professor at California State University. December small business optimism soared 38 points, its highest level since 2004 says the National Federation of independent Businesses. President Trump’s promised tax cuts, deregulation and infrastructure spending impacted the increase in optimism not only for small business owners but consumers as well. This seen in the increase in the employment rate which reflected more individuals looked for jobs in January.
Since we are not sure if we will ever know which President contributed more to January’s job growth. As we move into 2017 time will tell the story behind January 2017 steady hiring and low unemployment numbers. Fingers Crossed!
Thank you for reading and we hope you enjoyed our article regarding January’s 227,000 Jobs Created: President Obama’s credit or President Trump’s!