Thursday Open Thread [7.3.14]

Filed in National by on July 3, 2014

The U.S. economy added 288,000 jobs in June, surprising some economists who only expected 215k. The economy has now added more than 200,000 jobs a month for five straight months, the best stretch since January 2000. The unemployment rate also dropped to 6.1%, the lowest it’s been since September 2008.

Also encouraging: Job gains for April and May were revised up by a total 29,000. April’s increase was revised to 304,000 from 282,000 and May’s to 224,000 from 217,000. April’s total marks the first time monthly job gains topped 300,000 since January 2012.

Payroll additions have averaged 272,000 the past three months and 231,000 for the year, vs. 194,000 in 2013.

Bob Baur, chief global economist of Principal Global Investors, says accelerating job growth is feeding into a virtuous cycle, in which stronger payroll gains lead to higher consumer spending and further employment advances.

President Obama told Marketplace that the Republican Party would have to “move back to the center” if it ever wanted to win another presidential election.

“I don’t think this is a permanent state of affairs. I think over time the Republican Party will move back to the center, mainly because if they don’t, they’ll never win the presidency again.”

Hahaha. The President is trolling the GOP here. Because he knows that now that he has said they must move to the center to win, the GOP will now move so radically to the right that Adolf Hitler will seem reasonable by comparison.

First Read: “For one thing, it gives meaning to the White House’s various executive actions. Earlier this year during the State of the Union, many of us proclaimed them simply playing ‘small ball.’ But given this lawsuit, Republicans certainly don’t see them being small. In addition, the lawsuit only emphasizes the contrast that one branch of government is doing something while the other branch is doing nothing.”

“Bottom line: The White House sees a political opportunity here — an opportunity that Republicans might not have seen coming. Would it surprise many if House Republicans quietly decide before the August recess that this lawsuit gambit is actually too politically risky for them in an election year?”

About the Author ()

Comments (8)

Trackback URL | Comments RSS Feed

  1. Delaware Dem says:

    If Romney were President right now, this would be called the Romney Recovery. LOLz.

  2. Unstable Isotope says:

    If Romney were president we wouldn’t be seeing this recovery. Raising taxes on the rich and Obamacare probably helped. Those would’ve been killed by Romney.

  3. Aint's Taking it Any More says:

    Oh joy! 282K jobs created. Unemployment down to 6.1%.

    Lest we forget approximately 6M people, over the last six years, dropped out of the labor force. As drop outs they are not counted in the unemployment rate. That’s 6M people!!!! So in addition to the approx 10M unemployed and actively looking for work add another 6M not actively looking for work.

    The total number of employed people is at the lowest rate since 1978 despite the fact that the overall population has grown by almost 32M since that time. Demographics account for some of this.

    The fix is more important than the blame.

  4. bamboozer says:

    The economy remains on a slow but steady increase of jobs and employment. I see the signs in help wanted signs as I drive around. The famed Republican lawsuit will go down as failed gambit no. 209-B and like all the rest will be replaced by new attacks of genius and cunning. The rabid GOP base will lap it up, as they do all things anti Obama, but these games always fall flat or provoke a negative image for the population as a whole. As for the Republicans moving to the center it will not happen in the short term until their base dies off or is replaced, I see neither happening in the short term, unelectable in a national election or not.

  5. rustydils says:

    If Romney were President, a lot more people would be alive in the Middle east. And our Country would have a several trillion dollar lower debt. But, that is not what our Country wanted. We wanted more dead people around the world, and we wanted to spend several more trillion dollars of our kids and grand kids money, since us adults want more things than we can afford.

    P.S. Just now got back from seeing “America”. Great movie, I predict good ticket sales. Even has a flattering part about Hillary in it. A must see for all Delaware Liberals, you will be surprised. (For example, how many of you knew that Saul Alinski’s mentor was Al Capone’s number two man.

  6. Truth Teller says:

    Wake up folks IT’S OBAMA”S FAULT

  7. ghy says:

    An admin where minimum wage has become a career.

  8. Tom Kline says:

    Obama – The half black Democrat Bush…

Switch to our mobile site