WATCH | Here's what a strong economy means for brand new college grads.
It's a good time to be a young professional.
The U.S. economy created 298,000 private-sector jobs in February, far more than initial estimates of 190,000, according to a report issued by Automatic Data Processing on Wednesday.
This makes it more likely that the Federal Reserve will increase interest rates next week, CNBC reported.
Goods producers added 106,000 jobs. The construction industry added 66,000 jobs, and manufacturing added 32,000.
"February proved to be an incredibly strong month for employment with increases we have not seen in years."
—Ahu Yildirmaz, VP of ADP Research Institute
In January, the economy added 261,000 jobs.
"Businesses are anticipating a lot of good stuff -- tax cuts, less regulation," economist Mark Zandi told CNBC.
These numbers are a big deal because they're a sign the economy is really improving.
For millennials, who have seen double-digit unemployment numbers, it could mean better job prospects.
"It’s now probably as easy to find jobs as it has been since 2007," Dr. Gary Burtless, Brookings Institution senior fellow in economic studies, told Circa.
Especially for new grads, it could be the best time in recent years to find a first job. The private-sector jobs gains in the ADP report are the highest in nearly three years.
For millennials already in the workforce, it might be a time to make a move because the for the nation's youngest workers, these statistics translate into opportunity.
"People who are older unfortunately entered when the job market was a lot weaker and maybe they had to accept jobs that in a better job market they would have rejected," Burtless said.
"This is a good time to look for a better one."
President Trump tweeted a LinkedIn report on job growth Wednesday morning.
In the past, he has taken credit for an "incredible spirit of optimism" that spurred growth.