Replacing Tax Revenue with Tariff Revenue Helps Everyone: National Economic Council's Kevin Hassett

US job growth steadied last month while the unemployment rate rose — a mixed snapshot of a job market hanging on the balance of quickly changing government policy. Friday’s report is the latest evidence that the labor market is softening, with more people permanently out of work, fewer workers on federal government payrolls and a jump in those working part-time for economic reasons. The number of Americans holding multiple jobs climbed to a record of nearly 8.9 million. That sets a weak backdrop just as President Donald Trump’s policies raise concerns about the broader economy. Inflation has proven sticky in recent months and consumers are starting to pull back on spending, which, if sustained, may lead businesses to rethink their hiring plans. Nonfarm payrolls increased 151,000 in February after a downward revision to the prior month, according to a Bureau of Labor Statistics report out Friday. The unemployment rate rose to 4.1%. White House National Economic Council Director Kevin Hassett says he was very impressed with the February report that showed the US added 151,000 jobs. He says President Donald Trump's policies will grow the economy by 3% to 4%, the administration is providing clarity, and there will be reciprocal tariffs. He speaks to Bloomberg's Jonathan Ferro. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X: https://twitter.com/BloombergRadio Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts: https://www.youtube.com/bloombergpodcasts Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake