Society

Cohn: Trump Didn't Boost Jobs In Feb. But Will In Future

| by Lauren Briggs

After the Bureau of Labor Statistics released a report stating that the economy added 235,000 jobs in February, President Donald Trump's National Economic Council leader, Gary Cohn, said that the growth reflects the president's plans to boost the economy, even if the current administration is not necessarily responsible for it.

"This number reaffirms everything that we're trying to do," Cohn told CNBC in a March 10 interview.

The report found that job growth during Trump's first full month in office far exceeded the expected 190,000 new jobs, particularly in industries such as construction and manufacturing. Meanwhile, the unemployment rate has dropped to 4.7 percent -- a level that Fed officials consider to be full employment, meaning that any eligible person who wants a job should theoretically be able to get one, according to Business Insider.

Part of the employment boost, economists believe, is because the month was the second warmest February ever documented, potentially increasing the demand for construction jobs and other outside work. According to Business Insider, 58,000 of those jobs opened in the construction sector. 

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"Look, there's clearly a good February as part of the number," Cohn told CNBC. "I'm not going to deny that. But on the other hand, when you look at what we've been doing here at the White House and all of the CEOs that we've brought in -- whether it be Exxon or Sprint or Intel -- they've promised enormous amounts of jobs and job creation in the United States. Those hirings have not been done yet. Those are future hirings." 

According to Cohn, the February report shows that the economy is on its way toward a recovery from former President Barack Obama's term.

"So we're still living on the hirings from the normalized economic growth that's built into the system here," he added. "So when you look at what's ahead of us and what's built into the system, we have a huge backlog of hiring that we already know about in the normal run rate of the economy, so we're very excited about what's ahead of us."

Cohn said that the Trump administration is going to continue to do everything in its power to bring jobs "home." 

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This young teenage singer was shocked when Keith Urban invited her on stage at his concert. A few moments later, he made her wildest dreams come true:

"We want to protect American jobs, we really do," he said. "We want to bring jobs back to America, so anything we can do to incentivize manufacturers to come back to America, that's important to us."

Sources: CNBC, CNBC/Twitter, Business Insider / Photo credit: Paul Elledge Photography via Wikimedia Commons

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