An Amazing Jobs Report--3/9/2018
First off, the number of new jobs created for the month was 313,000. This is a MASSIVE number and about 100,000 greater than expectations. However, this isn't the big news.
The big news is that the Labor Force grew by 806,000!!!!
That means that over 800,000 people that had given up looking for a job are back in the game. Perhaps they are excited by the kinds of jobs being created or the rising wages, but something has pulled them from the sidelines to get back in the job market.
More wage earners can lead to tremendous economic gains for the U.S. economy for the simple reason more people will be making money and, therefore, have money to spend. Given our economy is about 70% consumer spending based, this is a really big deal.