Pres. Clinton had it right: U.S. hiring surged In August with 201,000 new jobs. Dow up 244, S & P at four-year high

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Despite all that obstruction by the GOP, despite their blocking any jobs bills that the Dems sent their way, this happened:

Forbes: U.S. businesses stepped up hiring last month, adding workers at a greater-than-expected pace, according to a new report from payroll giant ADP. The unexpected surge may suggest that the healing labor market is faring better than previous figures showed.

Private companies in August brought on 201,000 new workers in August. This is considerably higher than economists’ forecasts...  Small and medium-sized businesses contributed the lion’s share of the growth. Large corporations added only 8%, some 16,000. [...]

Another set of data this morning also seemed to reflect an improved labor market. Jobless claims fell to 365,000 last week, lower than economists estimated.

Oh, and the Dow is up 244 points today. They can blame Obama for that, too:

S.&.P. 500 Closes at Four-Year High After European Bond Plan

Decisive moves by the head of the European Central Bank sent the benchmark American stock index to a four-year high and fueled hopes that the foundation for a more lasting solution to the European debt crisis may be taking shape.

The markets have greeted several previous efforts to solve Europe’s economic woes with euphoria, only to be quickly deflated. While investors were bracing for the latest plan to run into problems, there were numerous signals that this plan may have staying power.

The Standard & Poor’s 500-stock index jumped 2 percent by the close to its highest level since January 2008. The Dow Jones industrial average added about 244 points, or 1.9 percent. And the Nasdaq composite index gained 2.2 percent for its highest close since December 2000.

Read More:
http://www.nytimes.com/2012/09/07/business/daily-stock-market-activity.html?emc=na

And via a CNN email alert:

U.S. stocks surged Thursday, with all three major indexes closing at the highest levels in years, as optimistic investors went on a buying spree.

A combination of stronger-than-expected data on the job market and the European Central Bank's bond-buying program provided the momentum. The Dow Jones industrial average closed more than 240 points higher.

The rally comes a day ahead of Friday's monthly jobs report and hours before President Barack Obama makes his case for re-election in a convention speech accepting the Democratic presidential nomination.

There's a long way to go, but if this is what the GOP are going to attack, this report just made their job a little harder.

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  • Can this president run on his record? You bet your life on it, and you should vote with that in mind. This man is working hard for the working class. Give him a Congress he can work with, fire the Tea Party Congress who obstructed him at every turn and garnered a 10% approval rating. Throw the Bums Out! What have they done to help this country?

  • Hashim Warren

    Perfect storm of great economic news for the US and for Obama's campaign.