Author Topic: US economy gains 209K jobs  (Read 249 times)

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US economy gains 209K jobs
« on: August 01, 2014, 08:56:36 AM »

US economy gains 209K jobs

By Vicki Needham - 08/01/14 08:37 AM EDT

The U.S. economy added 209,000 jobs in July, continuing a strong stretch that represents the nation’s best job-creation streak since the late 1990s.

The unemployment rate ticked up a tenth of a percentage point to 6.2 percent.

The report from the Bureau of Labor Statistics also revised job figures for the June and May up, finding the economy added 15,000 more jobs than previously counted.

July is the sixth straight month the economy has surpassed the 200,000 benchmark, with average gains over the past six months of 244,000.

Construction added 22,000 jobs in July while the manufacturing sector showed growth of 28,000 jobs.

The figures are a double-shot of good news for President Obama and congressional Democrats after a report earlier this week found the economy grew at a four percent clip in the second quarter.

Still, the stronger economy has yet to translate into any political success for Democrats, who are in danger of losing the Senate majority. Obama’s poll numbers also remain in the low 40s.

Republicans have blamed a slow recovery on Obama and regularly criticize the White House and Democrats for not moving GOP jobs bills.

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