The Department of Labor released their August jobs report. If you have been a “doom and gloomer” and going around talking about how bad America is, you won’t like this report. The .unemployment rate dropped to 5.1 percent. That level is the lowest since the first half 2008 … before the “bottom fell out” during the last days of the Bush presidency.
Furthermore, the ‘real’ unemployment rate also fell to its lowest levels since well before the recession. That means that people who have been technically “out of the work force” have re-entered it. That is good news regardless of what economic school or political ideology one believes in.
To top it all off, the department also revised the previous two months (June and July) and added another 40,000 or so jobs to their already decent numbers. The average number of jobs per month this year stands at around 220,000. Those numbers are undeniably positive. Does that mean that America transformed into utopia overnight? Of course not. It does mean that this President’s patient approach, even in the face of unprecedented obstruction over the past seven years have proved itself to be the right one.
There is still more work to do, and progress could come faster with a Congress that might at least seem like they are trying to work with the White House, but one probably shouldn’t hold their breath waiting for that to happen.
Check out this review of the numbers from CNBC HERE;