Job creation in January proved stronger than expected.

The economy added 227,000 new jobs in the month and the unemployment rate ticked up to 4.8 percent, the Bureau of Labor Statistics reported Friday morning in the first jobs report published in the Trump era.

Forecasters in the private sector had expected around 175,000 new payroll jobs, adjusted for seasonality.

Friday’s report suggests that the jobs recovery, already very old by historical standards, still has momentum as President Trump’s administration settles in.

Even with a big downward revision Friday to November’s jobs numbers, job growth over the past three months has averaged a robust 183,000 a month.

Only about 100,000 new jobs a month, and possibly much fewer, are needed to keep pace with population growth and send the unemployment rate lower, according to Federal Reserve research.

Already, the unemployment rate is as low as Federal Reserve officials think it can go without eventually prompting inflation. And the rate ticked up by a tenth of a percentage point in January for the right reason, namely that the size of the labor force, which is the denominator in the calculation of the unemployment rate, grew. The participation rate rose two-tenths of a percentage point to 62.9 percent.

Trump, however, has pledged to dramatically accelerate the pace of job growth, and oversee the creation of 25 million new jobs in the next decade. In comparison, the U.S. has added just under 15.5 million jobs since 2010, a mark that includes significant catch-up from the mass layoffs of the financial crisis.

Vanity Fair, New Yorker cancel annual parties in Trump's first year

Also from the Washington Examiner

Both Vanity Fair and New Yorker magazine are canceling parties they usually host each year to help celebrate the annual White House Correspondents’ Association dinner.

Vanity Fair Editor Graydon Carter, who has publicly feuded with President Trump for years, said it’s specifically because of Trump that his publication won’t host what has become one of Washington’s most exclusive parties.

“We’ve taken a break from the dinner in the past,” Carter said, though he added that it’s because of Trump that this year will also see a break.

Natalie Raabe, spokeswoman for the New Yorker, also said the magazine will not host its own party this year, which usually helps kick off the weekend dinner celebration.

02/03/17 8:18 AM

Trump is keeping his promises

Top Story

Donald Trump’s second week as president has been full of surprises and sturm und drang.

02/03/17 5:00 AM

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