Economy & Investments, Politics

Jobs Report: US Economy Booms Again

Democrats can’t win for losing as summer comes to a close, and the final sprint to the November elections is upon us. On Friday, the U.S. Labor Department revised the jobs and unemployment numbers once again to show an additional 35,000 jobs and another drop in unemployment below 4%. In the history of presidential midterms, it’s very rare for a peacetime president with a booming economy to lose his party’s grip on Congress. It’s more bad news for Democrats, who can’t seem to catch a good break.

Here’s more from Breitbart…

The U.S. economy added another 157,000 jobs in July and the unemployment rate fell to 3.9 percent, according to a Labor Department report Friday.

Economists had expected a nonfarm payrolls gain of 190,000 and the jobless rate to tick down to 3.9 percent.

Nonfarm payroll growth for June was revised up to 248,000 from 213,000. May’s jobs were revised to 268,000 from 244,000. So what seems to have happened is that many of the jobs that were expected in July were actually created in prior months.

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Manufacturing added 37,000 jobs, with most of the gain in the durable goods component.  Over the past 12 months, manufacturing has added 327,000 jobs.  Construction added 19,000 jobs and has increased by 308,000 over the year.

One reason job creation may have slower: the closing of Toys R Us. The category for toy and hobby stores fell by 32,000 workers.

 

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