The U.S. Labor Department reported the economy added 850,000 jobs in June and the unemployment rate came in at 5.9%. It was the best month for jobs since August of 2020. So in President Biden's first five full months in office (Feb-June) a total of 2,925,000 jobs have been added for a monthly average of 585,000 jobs per month.
And once again the pundits were wrong in their predictions. They were expecting job creation to be approximately 700.000. When the job numbers fail to reach their predictions on the low side they knock the economic recovery. When it exceeds their predictions, they are silent. As this writer stated before there are reasons for a bumpy recovery, the economic recession, then the pandemic which was a one two punch and when you include the Trump administrations failure to act, we can not expect a smooth economic recovery.
But the nation now has a President with an economic plan and policies to move the country and its people forward. Plus the President is an active one not willing to allow the past failures to dictate the future of America. It has been a good five months for the President's administration and precedent tells us America and its people will enjoy a better future.
This commentary written by Joe Lorio
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