“It’s the economy stupid.”
If the name of the political game is the economy, then Republicans have a lot of reasons to be optimistic about the future. Even as the Trump team finds itself embroiled in Democrat created controversies, and Democrat driven gridlock, the administration continues to go about the important work of righting our nation’s economic ship.
Over the President’s first 2+ months in office he has methodically gone about undoing many of President Obama Executive Orders and administrative actions. He has been unraveling regulations, cutting spending, and promoting a positive business environment even as he’s been pushing the GOP led legislature to begin the hard work of cutting taxes, regulations, and spending at the legislative level.
All of that hard work and all of the good will that President Trump is building in the business community is paying off. For the second month in a row the American job market exploded with new jobs.
Moody’s chief economist Mark Zandi cheered the news, “Job growth is off to a strong start in 2017. The gains are broad-based but most notable in the goods producing side of the economy including construction, manufacturing and mining.”
The year’s fast start for job creation showed no signs of letting up in March as private payrolls saw another big boost, according to a report Wednesday.
Companies added 263,000 jobs for the month, ADP and Moody’s Analytics said. That was well above the 185,000 expected from economists surveyed by Reuters and also better than the 245,000 reported for February…
In addition to the big gain on the headline number, the month also continued a trend away from services-oriented positions dominating job creation. Goods-producing firms contributed 82,000 to the total, as construction led the way with 49,000 new jobs.
The news about another spectacular month of jobs growth immediately had an impact on the stock market as well, driving stock prices up, up, up.
U.S. stocks rose on Wednesday after solid private employment data underscored the strength of the economy, boosting financial stocks and helping calm investor jitters over President Donald Trump’s ability to deliver on his policy plans…
The S&P 500 financial sector rose 0.84 percent, leading the seven gainers among the 11 major S&P sectors. The financial index’s gains were led by banks, which start reporting first-quarter results next week.
At 9:57 a.m. ET the Dow Jones industrial average was up 147.68 points, or 0.71 percent, at 20,836.92, the S&P 500 was up 13.1 points, or 0.56 percent, at 2,373.26 and the Nasdaq Composite was up 25.80 points, or 0.44 percent, at 5,924.41.