Trump Effect: 313,000 new jobs in February blowing out expectations

The American economy added 313,000 jobs, the most in 20 months, according to the Department of Labor.

Forecasters had expected only about 200,000 new jobs for the month and only about 100,000 additional jobs per month are needed to keep up with population growth. Jobs have increased by an average of 249,000 over the past three months.

The employers across a broad range of industries added to their payrolls with construction, retail, professional and business services, manufacturing, finance and mining topping the list.

The unemployment rate remained unchanged at 4.1%, but the number of long-term unemployed has dropped by 369,000 over the year.

The number of people that have given up looking for jobs, so-called discouraged workers, declined 149,000 from the same month last year.

Construction trades added 61,000 jobs, retail added 50,000, manufacturing added 31,000, finance added 28,000 and mining added another 9,000 positions continuing the reversal of jobs in the sector under Obama-era policies.

Hourly earnings jumped another 4 cents in February following the 7 cent hike in January making for a 2.6 percent increase in earnings over the year – something that was sorely lacking during the last administration.

Jobs grew 175,000 in December, 239,000 in January and 313,000 in February demonstrating a healthy and growing economy.