Daily Archives: August 4, 2012
From McClatchy newspapers:
Stronger-than-expected July jobs number reported by the government Friday eased concerns about an economy slipping back into recession and gave wind to President Barack Obama’s re-election hopes. But economists warned that the road ahead is likely to remain bumpy.
The strong report sent stocks soaring for most of Friday’s trading, with the Dow Jones industrial average up more than 220 points in the first hour, closing up 217.29 for the day at 13,096.17.
Mainstream economists had expected about 100,000 new jobs, so Friday’s report was wildly above expectations and more than double the revised 64,000 jobs that were added in June. Most heartening, economists said, was that the gains were spread across all sectors but construction and government hiring.
I find this is very encouraging even though there was a slight increase in unemployment.
Add this information to the number of private jobs gained under Democrats since 1961 and you wonder what Mitt Romney is really going to do about jobs. My guess is nothing!
- Government report: Employers add more jobs than expected in July (sacbee.com)
- US economy adds 163K jobs, rate rises to 8.3 percent (bostonherald.com)
- Obama, Romney Each Read Jobs Numbers Differently (wnyc.org)
- Jobs added in July, but economists still worried (goerie.com)
- July hiring exceeds expectations, eases worries (bangordailynews.com)
- US economy adds 163K jobs, rate rises to 8.3 pct. (onlineathens.com)