U.S. economy continues growth with new jobs, more consumer spending

By Balitang America Staff, ABS-CBN North America Bureau

Aug. 1, 2014

REDWOOD CITY, Calif. – The US economy continues its climb toward recovery with a sixth straight month of growth in the job market.

The latest Bureau of Labor Statistics’ jobs report showed 209,000 new jobs added in July, marking the first time since 1997 that the economy added 200,000 or more jobs per month over a six-month stretch.

The unemployment rate ticked up just a tenth of a percentage point to 6.2 percent, but that’s still lower than the 7.3 percent seen last July.

The Commerce Department had good news too. It reports consumer spending jumped .4 percent in June, higher than in May and April. Americans also saw a .4 percent bump in their earnings, as well.

3 Comments on this post.

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  • Filam
    2 August 2014 at 11:41 pm - Reply

    False biased report.

    http://www.cnbc.com/id/101886551

    A number of economists look past the “main” unemployment rate to a different figure the Bureau of Labor Statistics calls “U-6,” which it defines as “total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers.”
    In other words, the unemployed, the underemployed and the discouraged—a rate that still remains high.

    The U-6 rate rose slightly in July to 12.2 percent. While it is down 170 basis points over the last year, the trend has been somewhat more volatile than in the main unemployment rate, which steadily declined.
    Over the last two years, the U-6 rate has changed by at least four-tenths of a point from month to month at least five times.

  • JRB
    3 August 2014 at 9:21 am - Reply

    Working only 30 hour week will that count as U.S economy growth I don’t think so. Obama should do better than 30 hour week? And the wages go up but short on the hours you work, so where back where we started no U.S. economy growth?

  • Filam
    5 August 2014 at 12:33 am - Reply
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