Maybe the summer months are slow hiring months and we will see a big increase in the Fall. We had a pretty lackluster 2nd quarter - with GDP at 3% - and the oil issue is getting to be more of a problem as the summer drags on. If the oil issue comes under control, then perhaps we will see the job growth.
I'd love to put a positive spin on this - and yes, the number is positive and we are adding jobs - but it's not great. June's job report was not well received, this is considerably lower than June's. Sheesh...I hope August is a blockbuster month!
I bet the unemployement rate in wash is lower than the national average. In virginia, I think it is less than 2%
We should be cautious in extrapolating broader trends from real estate and construction activity. It's not so much an indication of increasing wealth as it as indication of investment strategy.
At a certain level, it actually indicates timidity -- people are willing to invest in the hardest of all assets (real estate) because they're afraid of riskier investments in manufacturing, developing intellectual property, or other things which create lots of jobs.
It's also the logical reaction to the end of loose money -- people are desperate to break land before long-term rates move up by 100 basis points or more, which is going to happen sooner or later.
There's no way to predict what they mean at this point, and they DON'T include small business starts, so they're incomplete to begin with.
And it does NO good to assume it's all negative just because we 'hoped' for better. JMHO.
The way to spin the news is:
1) The household report is positive
2) The UE number is down.
However, the important thing, IMO, is what oil prices do. If oil prices come down, I think everything will be fine. If they stay high, that could be a big problem.
It's annoying that a guy who has not ideas whatsoever could get elected.