Contributors

Thursday, July 03, 2014

Unemployment Rate Drops

U.S. employment growth jumped in June and the jobless rate closed in on a six-year low, decisive evidence the economy was moving forward at a brisk clip after a surprisingly big slump at the start of the year. Nonfarm payrolls increased by 288,000 jobs last month and the unemployment rate fell to 6.1 percent, its lowest level since September 2008, the Labor Department said on Thursday. Data for April and May were revised to show a total of 29,000 more jobs created than previously reported.

This marks the 5th straight month of 200K+ job growth which is great news for the US Economy. Of course, this is not so great for the Republicans who have now officially lost the economy as a campaign issue in the fall. If the economy is the #1 issue in the fall election and it's going in the right direction, why would they want to vote an incumbent out of office?

1 comment:

juris imprudent said...

The number of new jobs did not bring down the unemployment rate, it was the number of people that stopped looking (and therefore no longer count as "unemployed"). I guess you wouldn't pay any attention to the labor force participation rate - since it kills your feeble attempts to prop up your messiah (and his followers).