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Strong Jobs Growth in June

The Labor Department today said the economy added 288,000 jobs in June while the unemployment rate dipped to 6.1 percent from 6.3 percent, signaling sustained, robust job growth has arrived, at least for now.

May’s increase was adjusted up to 224,000 from 217,000 while April’s number was pegged at 304,000 from the previous estimate of 282,000.

Nevertheless, according to the Wall Street Journal, the news was not all good, as the percentage of the population in the job market remained historically low:

At 62.8%, the share of population either working or looking for work remains around 30-year lows, a sign that many of the unemployed have given up their job searches.

Furthermore, job gains continue to be led by low-paying sectors. Retail added over 40,000 new jobs while leisure and hospitality added 39,000.

Higher-paying sectors continued to lag behind in the jobs recovery. Manufacturing added 16,000 new jobs and construction added 6,000.

At 6.1 percent, the unemployment rate has reached a six year low. The Dow Jones Industrial Average rose above 17000 for the first time in response to the stronger-than-expected jobs report.

Maybe, after five misses, this will be the summer of recovery. Growth for the second quarter is expected to be at over three percent.

The economy was sure to rebound at some point. There’s only so much you can do to keep it down. But given the various shackles Obama has placed on it, I doubt if the turnaround will last for long.

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27 Responses to Strong Jobs Growth in June

  1. “But given the various shackles Obama has placed on it, I doubt if the turnaround will last for long”
    Well sounds like Dear Leader will have to double down on his efforts to economically destroy America’s middle class, resulting in the same for America.
    I’m sure he’ll find time between golf and a few more vacations.

    • Is there a middle class today? Is there a working class? I try to avoid those words. The article refers to single women or single mothers as “middle class”. I see them as the poor.

      • I think that in the last 20 years, maybe more, maybe less, the term middle class and poor are becoming interchangeable, economically, JB.

  2. Meh, I live in a “resort” area, between the beach, amusement parks including Busch Gardens, golf courses, pools and the historic areas, I think our area alone hires 200k seasonal employees in June.

    That, and I just don’t trust this administration anymore. If they tell me the sky is blue, I go outside and check :)

  3. There has only been one month in the past 4 years where the number of jobs added has exceeded the number of people leaving the workforce.

  4. I guess it would be an “inconvenient truth” to mention that over 92 million people, of working age, are not working and not looking for work.

  5. Who in their right mind would believe any of this propaganda nonsense being issued by this lawless regime. Just look at the ridiculously low unemployment rate! Horse stables that haven’t been cleaned in a week smell better than these bogus numbers.

    Bullcrap all the way.