It was the 63rd. straight month of positive job growth under the Obama administration and job creation for March and April were revised upward by 32,000 more jobs than previously reported. The unemployment rate was 8.5% up from 8.4% in April. The small increase was attributed to the fact that hundreds of thousands more people began looking for jobs in May. So says a report by the U.S. Labor Department.
Construction, health care and hospitality drove the job growth in May. The oil industry shed workers for the fifth straight month because of oil prices. Average hourly wages rose 2.3% from the previous year. The number of people applying for unemployment benefits weekly remained at a historically low, 300,000 for more than four months. The recovery is expected to continue thru the end of the year and into 2016.
If the republican controlled congress ever passes the transportation bill they have been sitting on forever, the economy would enjoy a much broader increase with better paying jobs. That should be priority number one. The time for action is now. Forget about the TPP trade agreement and do something for the domestic economy.
The American economy as a whole still has a way to go for all to have jobs that are well paying and sustainable but it will not happen unless more action is taken by congress. The President's policies has worked for the economy, but more has to be done. The President continues to do his part. Will republicans ever answer the challenge and do their part?
This commentary written by Joe Lorio
