The U.S. Labor Department announced that the economy created 288,000 jobs in June, more than was forecast. It also said that job creation in April and May were higher than reported, 304,000 in April and 217,000 in May. The unemployment rate in June fell to 6.1% the lowest since September of 2008. Manufacturing expanded for the 13th straight month.
The U.S. economy continues to improve steadily. It was the fifth straight month of job creation over 200,000, the best run since the 1990's. A report from the Associated Press quoted Patrick O'Keefe, director of economic research to the consultaney Cohn Reqnick as saying, this has now become a text book jobs expansion and is both broad and accelerating. While the good news continues, the republican party stays on the sidelines and the U.S. House continues to block legislation passed by the U.S. Senate that would help the economy and job creation even more. The party of Lincoln is still committed to see the country and its government fail.
The Dow Jones average hit its highest peak ever, over 17000. Corporate America and the wealthy continue to do well and it is past time that the average American to see his wages increase on a steady basis. That is the bottom line of a shared economy. It is hopeful that will start happening soon if unemployment continues to go down and the economy and job creation stays at a healthy level.
Once again a democratic administration and its policies are moving the country and its people forward. And yes, it was here in "PolitiDose" that you read when Obama was first elected President that it would be a democratic administration that would end the second great republican depression.
This commentary written by John Lucia.
