Hey kids, guess what time it is! It’s job creation time! Which means it’s time to bring back that sexy economic data source, the Bikini Graph! That sound you hear is the GOP demanding President Obama’s impeachment for allowing this to happen on his watch. JobsGhazi!!!!
As always, red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration. Me oh my, look at all that blue!
Via Steve Benen at The Maddow Blog, here’s the latest on the new report from Bureau of Labor Statistics, including how the U.S. economy added 223,000 jobs in June. The overall unemployment rate ticked down to 5.3% which is “a seven-year low.” But “job totals were revised down,” so that’s a bit discouraging, as was “the fact that the jobs report didn’t point to increased wage growth.”
That said, there was also a big drop in long-term unemployment, which was more heartening. The overall takeaway is that this is a decent jobs report – not great, not bad.
The U.S. has added 2.9 million jobs over the last 12 months. June was the 57th consecutive month of positive job growth – the best stretch since 1939 – and the 64th consecutive month in which we’ve seen private-sector job growth, which is the longest on record.
Not bad, all in all. But imagine what our economy and employment numbers would look like if Republicans weren’t standing in the way of Democratic job growth proposals, including infrastructure bills. Too bad all we can do is imagine…