The US Department of Labor reports that 235,000 jobs were added in February as the growth of last year continues into 2017. This new jobs report shows increases in manufacturing, construction, healthcare, mining, and education. The unemployment rate is 4.7% and has now been at or under 5% for 18 months. It looks like job seekers are feeling good about their prospects as the workforce also continues to grow. This was the indicator that many have been expected will precede action by the Fed to raise interest rates. It will also be interesting to see how President Trump views these numbers. His stance on the economy seems to have shifted as he is now touting this growth on social media. This is in contrast to the dismal economic outlook he had on the campaign trail though this job growth is nearly identical to last February’s 233,000 jobs added.
Once again, solid job numbers show that the economy is continuing to improve. Employers should take this opportunity to make sure
that they are staying on top their unemployment costs. While the climate is good, the time is right for companies to shop around to find the best software and most efficient processes to protect themelves from those inevitable changes in the employment landscape. Contact Unemployment Tracker for more information on effective UI cost management.