The U.S. Labor Department announced that the economy created 209,000 jobs in July, the sixth straight month of job creation over 200,000. The unemployment rate ticked up to 6.2% from June's 6.1%. The increase was attributed to the fact that 329,000 who were without jobs reentered the job market and was seeking employment once again. The Labor Department does not count any one as unemployed if they drop out of the labor market. Those that reentered the job market is seen as a positive for the economy.
The department also said the economy is expected to sustain its strength into 2015. The economy expanded 4% in the second quarter and is expected to grow 3% in the second half of the year. Manufacturing is expanding and consumer spending is rising.
The positive signs of steady growth is strenghtening and President Obama said our engines are rivving a little bit louder. The stimulus passed by the democratic controlled congress in 2009 is working and moved the economy forward once it took hold. And five and half years after the great economic meltdown of 2008, the republican party in congress is still sitting on their hands doing nothing and keeping their promise of opposing every thing President Obama puts forth to continue the recovery.
The progress being made comes as no suprise to this writer because of precedent. Some thing I wrote about here in "PolitiDose" since the President was elected.
This commentary written by John Lucia.
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