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U.S. employers added 196,000 jobs last month, more than economists had forecast. More importantly, it gave encouragement to economists who said the prior month's jobs report, which was shockingly weak, may have been an aberration and that the economy can continue to grow, albeit at a slower pace.
President Donald Trump boasted about the good news with a three-word tweet echoing what he said in 2016 were is three most important performance metrics: 'JOBS! JOBS! JOBS!'
White - House - California - US - Well
As he left the White House for California, he said the U.S. 'is doing unbelievably well.'
'We have a lot of very exciting things going on. A lot of companies will be announcing shortly they're moving back into the United States,' he said. 'They're all coming back. They want to be where the action is.'
Jobs - Report - Concerns - Economy - February
The stronger-than-expected jobs report helped smooth concerns about the economy, after February's report initially said just 20,000 jobs were added during the month, which was sharply below the recent pace. The government on Friday revised that number to growth of 33,000.
Average hourly earnings rose 3.2 per cent in March from a year earlier, which was weaker than economists' forecasts. Markets pay close attention to the numbers because while higher wages help workers afford to buy more things, they also crimp corporate profit margins.
S - P - Day - Week - Gains
The S&P 500 has climbed every day this week, though most of the gains were only modest, and it now sits just 1.4 per cent away from its most recent record high, which was set in September.
The index has been tacking on more gains since closing out its best quarter in nearly a decade, with a 13.1 per cent rise in the first three months of the year. If the index ends Friday higher, it would clinch a seven-day winning streak, its...
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