Once again, it’s job creation time, which means it's time to bring back the Bikini Graph! This time around, the conclusion is that the economy is "plodding along steadily." Per an email alert from everyone's favorite, most trustworthy news source ever, the Labor Department said the economy has now recovered all 8.7 million jobs lost during the Bush recession.
As always, red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration. Via Steve Benen, more on the new report from Bureau of Labor Statistics:
[T]he U.S. economy added 217,000 jobs in May, which is almost exactly what economists expected. The overall unemployment rate, meanwhile, remained at 6.3% – still at its lowest point since September 2008, nearly six years ago.
For the fourth consecutive month, public-sector layoffs did not drag down the overall employment figures. [...]
All told, over the last 12 months, the U.S. economy has added over 2.38 million jobs overall and 2.36 million in the private sector. What’s more, May was the 51st consecutive month in which we’ve seen private-sector job growth. The year isn’t quite half over, but 2014 is currently on track to be the best year for U.S. job creation since 1999... now tied for the longest streak on record, matching a streak from Clinton’s second term.
You know what to do, right? Say it with me: When in doubt, blame Obama.