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Obama Economy Rebounds As Unemployment Falls To Lowest Level In Seven Years

more from Jason Easley
Friday, May, 8th, 2015, 10:56 am

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The economy rebounded from the rough winter weather in March to create 223,000 new jobs as the unemployment rate dropped to its lowest level in seven years.

According to The White House:

The economy added 223,000 jobs in April as the unemployment rate fell to 5.4 percent—the lowest since May 2008—and the participation rate ticked up. This report largely reflects the ongoing recovery, but jobs in April were likely also boosted by a temporary bounce-back from winter weather. Notwithstanding the substantial progress our economy has made, it is critical to continue the overall momentum and further strengthen wage growth.

….

The private sector has added 12.3 million jobs over 62 straight months of job growth, extending the longest streak on record.Today we learned that private-sector employment rose by 213,000 in April. Our businesses and the economy as a whole created more than 200,000 jobs in thirteen of the past fourteen months—the first time that has happened since 1995. After taking into account the downward revision for the March jobs number, our economy has added 3.0 million new jobs over the past twelve months, nearly the fastest pace in more than a decade.

President Obama is starting to see economic numbers that the country has not put up since 1995. Wage growth is a definite concern which is why the Democratic candidates for president have zeroed in on wage growth and income inequality as key issues for 2016.

Republicans don’t have a plan to address wage growth because ideologically, they are committed to transferring wealth to the top of the economic pyramid. It is impossible for Republicans to address falling wages when their economic philosophy is centered around depressing wages in order to keep wealth at the top.

The economy is putting Democrats in a good position, and it leaving Republicans with fewer issues to talk about that matter to the country at large. There are still weaknesses to address, but it is undeniable that the economy has turned around and recovered for the disaster that happened under Republican leadership.

Obama Economy Rebounds As Unemployment Falls To Lowest Level In Seven Years was written by Jason Easley for PoliticusUSA.
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