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By The Associated PressThe United States is on track to become the world’s fastest-growing major economy in 2019, according to the latest data from the U.S. Bureau of Labor Statistics.
In the 12 months ending March 1, the country added 1.25 million jobs, an increase of 740,000 over the previous year, according the BLS.
The numbers were up from the 1.15 million new jobs created in the 12-month period ending March 2018.
The economy grew an average of 5.4% in the six months ending in March, and the jobless rate dropped to 5.7% from 5.8%.
The economy is expected to grow by 2.5% in 2020.
The BLS said the U, which was already the world leader in manufacturing and trade, was on track for a faster pace of economic growth.
But it warned the economy would slow down if President Donald Trump’s agenda of deregulation and tax cuts was not met.
The president has proposed cutting taxes for businesses, while proposing a border tax.
The latest BLS data also showed manufacturing employment fell in February to a 12-year low.
That followed the government’s largest manufacturing survey since the recession, which showed the industry shedding 1,500 jobs last month.
The survey, which also showed the job growth was slower than previously expected, showed manufacturing fell to a record low.
The manufacturing sector accounts for almost one-third of the economy and employs about 16 million Americans.
It employs about 6.5 million people, about a third of the total U.T. population.
The Commerce Department said the manufacturing employment rate dropped 2.1% to 64.1%, the lowest since November 2015.
That is the lowest in two years, and it’s down from 63.9% in March 2018, the bureau said.
It’s the latest survey to show manufacturing has shed jobs in recent months.
The Bureau of Economic Analysis said in November that manufacturing lost 5,000 jobs in January.