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 173,000 jobs in August. The overall unemployment rate ticked down to 5.1% which is the lowest it’s been since April 2008. But despite feeling like things aren’t as rosy as they could be, “the details paints a more encouraging picture.”
The revisions, for example, also point in a fairly encouraging direction: June’s job totals were revised up, from 231,000 to 245,000, while July’s numbers were also revised up, from 215,000 to 245,000. Combined, that’s an additional 44,000 previously unreported jobs. The same report also showed a decent increase in wages.
Even the drop in the jobless rate is for the right reasons.