June Jobs

The summer is always a down period for politics. People are interested in other things. Pundits take vacation, investors invest less, and Americans worry about some rest, time off and outside activities. Only the cable operators and political spin machines are busy. Today's jobs report will be dissected and argued over by both candidates for President but all this noise is meaningless. The difference today, on an economy with 165 million jobs, between gloom and hope is 25,000 jobs. This amount is almost a statistical irrelevancy but those watching will be treated to extreme analysis on both sides of the philosophical aisle. Here is my analysis. The job creators have record wealth, but are tepid in their hiring. Not because of an overregulatory government but because of a world economy that is still struggling. In our country, 4 million jobs have been created in 3 years versus 8 million lost during the recession. 84,000 people found jobs last month and this fills a football stadium. The prior month was revised upward by 7000. For those working, they were given more hours, thus more disposable income and gas prices continued to decline. Our economy is growing, not receding, and a slow and steady pace still beats a recession any day. So if you want gloom, you can find it. If you want hope, it is clearly there. The Dow is almost 13000 and it was 6000 a few years ago. I will happily take the progress. If a ship is sinking and about to capsize but then brought upright, I will take that Captain any day. Where are you Americans for reason and truth?