The Bureau of Labor Statistics released a surprisingly strong jobs report Thursday morning.
Employers added 288,000 jobs in June, significantly more than the 215,000 economists were anticipating. The unemployment rate, which is drawn from a different survey of households, dropped from 6.3% to 6.1% the lowest rate since September 2008.
Immediately following the news the S&P 500, The Dow Jones Industrial Average and Nasdaq Composite were in the green, continuing positive trends seen leading up to the pre-bell release. The Dow crossed 17,000 for the first time ever seconds after the opening bell before settling around 17,050.
The article goes on to remind folks that the both the May and April jobs reports were revised up after they were first announced, which means we are likely to see this already great report improve even more.
It is probably worth noting that the Republicans continue to attack Obama over an economy that they think is growing too slowly, and accuse him of costing Americans jobs due to Obamacare and his so-called attacks on the coal industry, even though there is no data to support those claims.
A recent poll came out saying that Americas think that Obama is the worst President since World War II, and that the country would have been better of if we had elected Mitt Romney.
But I think, if that poll is to be believed, it is only true because this President has been under constant assault since the day he took office, and because every one of his achievement are undermined and attacked until they seem like deficits, while every mistake is exaggerated to the point that many people believe he should be tried for treason.
Of course if Obama somehow managed to cure cancer tomorrow, Fox News and the Right Wing blogs would bitch that he was putting doctors out of business and only doing it to push forward his socialist agenda. And a number of low information Americans would have no trouble believing it was true.
Rachel Maddow's blog has already convincingly debunked that poll showing Obama as worst President. We all know better.
ReplyDeleteAnd for you Sarah (we know you are continuely lurking at this blog), the real "we the people" decisively voted for Obama in 2008 and 2012 by the largest margins in recent history and we are still exceedingly happy that he is our President!
Fox news had a story today about the "real unemployment" numbers (you know the ones they made up).
ReplyDeleteThe pollsters did not call me. If they had, i would say that President Obama is the best President since Franklin Roosevelt. He is up there in the top five as far as I am concerned.
I hope he can get those idiots in the House to pass the highway bill. If not, most construction will stop on August 1. But of course, they will say that is his fault too.
Thanks for all the time and effort you put into your blog Gryphen. Hope you get some 'me' time for relaxing and chilling over the long weekend. You deserve a break from all the insanity so generously provided by the right-wing cabals.
ReplyDeleteIf he were white, they'd be clearing land on the National Mall right now for the Obama Monument.
ReplyDeleteTo quote Vice President Joe Biden "This is a big fucking deal". Of course, I watched a little of Fox News, just to see what their spin is....... and it's "This started with policies President Bush put in place" and "Can't be trusted....liberal bias, you know".
ReplyDeleteThanks, Mr President for doing your job and doing it well.
Happy Fourth of July, Everyone!!