ECONOMY FACTS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! U.S. Economy Shrinks by Most in Five Years ! U.S. GDP Dropped 2.9% In The First Quarter 2014, Down Sharply ! _______________________________________________________ WHITE HOUSE SPIN/BULL$HIT!!!!!!!!!!!!!!!!!!! You might be seeing a lot of news about the economy creating more jobs. Thats because at the beginning of every month, the U.S. Bureau of Labor Statistics releases a report on our countrys general employment situation for the previous month -- and this months showed good news. Whats it all mean, and why should you care? Theres still much more to do to keep moving forward, but weve put together a few key points about how our economy is doing generally. Take a look -- and if you learn something new, pass it on. Our country hasnt seen this kind of job creation since the 1990s -- and weve been adding more than 200,000 jobs a month for five months straight. The 1.4 million jobs added in the first half of this year are the most in any half since 1999. Whats more, this is the first time since September 1999-January 2000 that weve seen total job growth above 200,000 for five straight months. GIF: Heres what our jobs growth looks like. Auto sales in June are also the highest theyve been since mid-2006 -- before the financial crisis. Lets not forget that the American auto industry is continuing to bounce back -- adding 18,000 jobs this past month for a total of 463,000 jobs added since Chrysler and GM came out of bankruptcy in June 2009. Employment in Motor Vehicles and Parts Manufacturing and Sales Meanwhile, were continuing to produce more oil at home than were importing from overseas. In addition to doubling renewable electricity generation from sources like wind and solar, last October something big happened: For the first time in nearly two decades, we started importing less foreign oil than we were producing at home. U.S. Crude Oil Production and Net Imports Its progress -- but weve still got work to do. Want a more in-depth look at what the jobs numbers mean, complete with more charts, numbers, and economist-speak? Take a look at this post from Jason Furman, Chairman of the Council of Economic Advisers. And if youre looking for more great charts and infographics related to the economy, visit our Shareables hub.
Posted on: Mon, 07 Jul 2014 11:29:47 +0000