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Mainstream Media Can't Avoid June's Good Economic News

Townhall.com

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Washington, July 7, 2017 | comments

Cortney O'Brien

The economy is in pretty good shape, according to last month's labor statistics. Heck, the numbers even exceeded analysts' expectations.

The U.S. economy added 220,000 jobs in June, the best showing since February and well above analysts' expectations of 174,000.

The Labor Department's Bureau of Labor Statistics also said the number of employed Americans -- which set records in February, March and April -- set another record in June, at 153,168,000 employed.

And the number of Americans not in the labor force -- after four straight monthly gains – dropped a bit to 94,813,000.

The unemployment rate remains at 4.4 percent. It could get down to 4.0 percent by January 2019 if it continues to fall at the same rate it did from the end of 2015 to the end of 2016, according to the Economic Policy Institute's projections.

The labor force participation rate rose 0.1 percent to 62.8 percent. In its report, the BLS excluded Americans who are retired, students, homemakers, the disabled, and any other individuals who have stopped looking for employment.

House Ways and Means Committee Chairman Kevin Brady credited Friday's positive report with the GOP's effort to roll back regulations.

“With President Trump in the White House, Republicans have already taken historic steps to roll back damaging regulations that have discouraged investment, dragged down our nation’s productivity, and left too many workers waiting for better employment opportunities. 

“Our action so far is only the beginning." 

He added that Republicans are planning to improve these numbers by enacting meaningful tax reform.

Conservative groups were amused that the mainstream media was actually providing the president some positive coverage, for a change. 

Hot Air's Ed Morrissey, however, explains why we shouldn't pop the champagne quite yet, noting that Republicans have yet to put much of their economic agenda into place.

 

 

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