Business Review Board: June Jobs Numbers Beat Predictions

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July 7, 2017

June Jobs Numbers Beat Predictions

The U.S. economy is steadily coming back to life after eight years of stagnation. More is possible.

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Business Review Board

The Labor Department has released its jobs numbers for June and the news is good. Employers added 222,000 jobs this past month, surpassing several leading economists’ predictions. June saw the strongest job increase since Donald Trump took office, which continues to indicate that the American economic engine is steadily gaining momentum. The broader measure U6 unemployment rate rose to 8.9%, which counterintuitively indicates good news — an increasing number of people who had been sitting on the sidelines are entering the workforce, proving to be another encouraging sign that the economy is indeed pulling out of years of near stagnation. Remember, the headline unemployment rate declined under Barack Obama because people were leaving the workforce.

Trump, clearly upbeat over the news, tweeted, “Really great numbers on jobs & the economy! Things are starting to kick in now, and we have just begun!” However, Republicans will need to get ObamaCare repealed and replaced and act on tax reform in order to really get the economy surging. The sooner the better.

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