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Think tanks: It's too early to attribute strong February jobs data to a 'Trump bump'

President Donald Trump can't really take credit for the strengthening labor market yet because it's too early in his administration, two think-tank policy wonks told CNBC.

The government on Friday released a better-than-expected February read on job growth — saying the U.S. economy created 235,000 nonfarm payrolls last month. The unemployment rate dipped to 4.7 percent.

"I am not attributing this to the new administration since it's the first month of his presidency," said Neera Tanden, who served in the Barack Obama and Bill Clinton White Houses.

"We haven't seen any fundamental policies or anything really pass Congress yet," the CEO of the Center for American Progress contended on "Squawk Box."

Jeffrey Miron, director of economic studies at the libertarian Cato Institute, said it's possible that expectations for pro-growth policies under Trump might helped a bit.

But that didn't stop Trump from taking a victory lap, retweeting the lead of the Drudge Report, which references the president's Make America Great Again campaign slogan.

"I would be a little skeptical that there's a lot of Trump bump," Miron said. "There's plausibility a little bit in these numbers, but which are basically a continuation of what we've been seeing."

Tanden also said the strong February job growth was "a continuation of the economy we had for a while now."

Since he campaigned on bringing higher wages, Trump will be judged on how much more Americans see in their paychecks, Tanden added.

Average hourly earnings in February increased by a healthy 2.8 percent on an annualized basis.

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