The Bureau of Labor Statistics' latest report shows that the U.S. economy added 223,000 jobs in June, dropping the unemployment rate to 5.3 percent.
Unfortunately, job gains in April were revised down, from 221,000 to 187,000. May was revised down as well, from 280,000 to 254,000. That brings the average gain over the past three months to 221,000. But the 2008 collapse blew a very big hole in the economy; to close it by the summer of 2017 the economy needs to be averaging 246,000 jobs added a month.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
5 rambunctious cartoons about the House speakership standoffCartoons Artists take on Mike Johnson's night terrors, the Speaker's chair, and more
-
The Week Unwrapped: Ultrarunning, menswear and a meaty rowPodcast Is the "Hardest Geezer" a high-endurance trendsetter? Will Ted Baker survive? And what's the beef with lab-grown meat?
-
Crossword: April 14, 2024The Week's daily crossword
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
-
Housing costs: the root of US economic malaise?speed read Many voters are troubled by the housing affordability crisis
-
Feds cap credit card late fees at $8speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
-
Immigration helped the US economy outpace peersspeed read The U.S. economy grew at an annualized rate of 3.2% last quarter
