Archive for economic growth

Bikini Graph time! Sixth straight month of job growth, best since 1997! #BlameObama

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bikini itsy bitsy bikini graph job creation

Once again, it’s job creation time! Which means it's also time to bring back that sexy economic data source, the Bikini Graph! This time around, we learn that this is the sixth straight month of job growth, something that hasn't happened since 1997. That sound you hear is the GOP demanding President Obama's impeachment for allowing this to happen on his watch. Da noive!

bikini graph private sector Aug 2014

bikini graph overall Aug 2014

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 at The Maddow Blog, more on the new report from Bureau of Labor Statistics, including how we added 209,000 jobs in July:

The overall unemployment rate ticked slightly higher to 6.2% – still hovering around a six-year low. (This is one of those times when an uptick is good news, not bad, since more people are entering the workforce looking for jobs.)

Once again, 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 2.57 million jobs overall and 2.48 million in the private sector. What’s more, July was the 53rd consecutive month in which we’ve seen private-sector job growth – the longest on record.

 At this point, with the year about half over, 2014 is currently on track to be the best year for U.S. job creation since 1999.

The Los Angeles Times has more:

The labor market extended its best streak since the late 1990s, posting solid job growth last month that lured more people back into the workforce. [...]

And the [unemployment rate] rise was for a good reason: The labor force grew by 329,000 last month as many people who had left the job market — and so weren't being counted in the unemployment rate — returned. That caused the labor force participation rate to inch up for the first time in five months, to 62.9%, from its lowest level since 1978. [...]

The economy grew at a robust 4% annual rate from April through June, the Commerce Department said this week... Personal income also increased 0.4% in June, the same pace as in May. And July was one of the best months in years for motor vehicle sales, automakers said Friday.

We're on our way. Unless, of course, the GOP decides to continue to block Democratic jobs and infrastructure bills... which is a given. It looks like we'll have to keep growing the economy and employment in spite of them.

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Good economic news... again! Time to impeach! #BlameObama

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economic news recovery

With all the talk of impeachment and GOP lawsuits against President Obama these days, it seemed like a good time to add more fuel to the politically insane fires. Yes, once again we have upbeat economic news. What's a blogger to do? Why, publish the upbeat economic news, of course.

Let's start with a Fox Biz email alert headline, because I know how you rely heavily on every word uttered by Fox, the most reliable name in economic news:

U.S. Economy Grows at 4% Pace in 2Q

What?! Why I oughta. Please proceed, Fox Biz:

The Commerce Department reports the U.S. economy grew at an annualized pace of 4% in the second quarter, beating Wall Street expectations for a 3% rate.

Oh what do they know... Let's see what the big bad "librul media" has to say about all this good economic news. New York Times, I'm talkin' to you:

The United States economy rebounded heartily in the spring after a dismal winter, the Commerce Department reported on Wednesday, growing at an annual rate of 4 percent from April through June and surpassing economists’ expectations.

In its initial estimate for the second quarter, the government cited a major advance in inventories for private businesses, higher government spending at the state and local level and personal consumption spending as chief contributors to growth. Economists, who had been hoping for a full reversal of the first quarter’s decline, were cheered by the second quarter’s numbers. The consensus forecast for G.D.P. was 3 percent.

“Fantastic,” Douglas Handler, chief United States economist for IHS Global Insight Analysis, said of the second-quarter G.D.P. increase. The bigger-than-expected gain further cemented views that the decrease in America’s overall output during the first quarter was most likely a fluke tied in large part to unusually stormy winter weather and other anomalies.

Huhwha? "Higher government spending at the state and local level"?

Read it and weep, impeachers.

curses foiled again

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Bikini Graph time! "No point in cherry picking because all the jobs news is good." #BlameObama

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bikini itsy bitsy bikini graph job creationgraph unemployment June 2014

Before we get to the jobs news o' the day, how's about a little upbeat update from everyone's favorite news source, the always reliable Fox Biz, hmm? Via an email alert:

The blue-chip average broke past the 17000 mark for the first time in history as traders cheered a strong jobs report. The Dow is up 58 points, or 0.35%, to 17035.

And this happened on whose watch again? Oh yeah.

President Obama is the worst. Socialist. Ever.

Now on to Ye Olde Bikinie Graphe, because, yes, once again, it’s job creation time! Which means it's time to bring back the really-not-so-old Bikini Graph! This time around, the conclusion is that "few expected the data to be this good." That sound you hear is the protesteth too mucheth from the moutheths of the GOPeth:

bikini graph private sector July 2014

bikini graph overall July 2014

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 at The Maddow Blog, more on the new report from Bureau of Labor Statistics, including how we added 288,000 jobs in June, "well ahead of forecasts." The unemployment rate is now at 6,1%, which is the lowest it's been since September 2008. That's six-- count 'em, six-- years ago. Last fall, it was a full point higher. At one point, we were at 10% (thank you, BushCo).

Benen even manages to squeeze in some excellent Benghazi!!!! snarkitude:

For the fifth consecutive month, public-sector layoffs did not drag down the overall employment figures. Though jobs reports over the last few years have shown monthly government job losses, in June, the private sector added 262,000 while the public sector added 26,000. The latter may not sound like much, but after several years in which that total was negative, it’s heartening. [...]

Overall, the report suggests the jobs landscape is clearly improving, which is no doubt proof that American employers are in on the conspiracy to distract Americans from Benghazi.

All told, over the last 12 months, the U.S. economy has added over 2.49 million jobs overall and 2.43 million in the private sector. What’s more, June was the 52nd consecutive month in which we’ve seen private-sector job growth – the longest on record.

At this point, with the year about half over, 2014 is currently on track to be the best year for U.S. job creation since 1999.

Benen is also reporting that this is "actual" good news, because "job creation was strong, even as the labor force grew. This is, in other words, how people rooting for the economy want to see the jobless rate drop."

But my favorite part was this: "There’s no point in cherry picking because all of the news is good."

Say it with me now:

blame obama Bush's fault smaller

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Bikini Graph time! Total payrolls surpass where they were before Bush recession #BlameObama

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Graph unemployment rate June 2014

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.

bikini graph overall June 2014

bikini graph private sector June 2014

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.

blame obama Bush's fault smaller

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