American economic growth is surging, as employers added 255,000 jobs in July, the Labor Department announced today. The jobs growth was more robust than expected. The unemployment was flat at 4.9 percent. Meanwhile, June’s gain was revised upward by 5,000 jobs, and May by 13,000.
This marks a record 70 straight months of job growth (the previous record was 48).
Honestly it seems like some Republican predictions about what Obama would do to the economy have not come true.
Obamacare was signed into law in March 2010. The private sector hasn’t lost jobs since: https://t.co/fI8Y5Xzcz3 pic.twitter.com/GsMzTQeJVQ
— Dan Diamond (@ddiamond) August 5, 2016
Your monthly reminder that virtually all the employment growth in the recovery has been full-time. pic.twitter.com/bUrVDNRg76
— Ben Casselman (@bencasselman) August 5, 2016
U.S. Unemployment Rate
July 2010: 9.5%
July 2011: 9.1%
July 2012: 8.3%
July 2013: 7.4%
July 2014: 6.2%
July 2015: 5.3%
July 2016: 4.9%— Jon Erlichman (@JonErlichman) August 5, 2016
The unemployment rate doubled under Bush. It's fallen by more than half since it peaked under Obama. pic.twitter.com/VE3Dyg6y8a
— Dan Diamond (@ddiamond) August 5, 2016
Private sector job growth…
Under W Bush: ↓ 396,000
Under Obama: ↑ 10,798,000
— Dan Diamond (@ddiamond) August 5, 2016