BREAKING: The Gallup US Job Creation Index, based on a 3 day rolling average, has posted its highest mark since before the Great Recession: +24
Given the paranoia that overtook the business news media after the March jobs numbers, it is imperative that those who are confident in the economy point to the news that can go unnoticed.
Hiring is continuing, and although I personally believe March's numbers will end up being revised upwardly, the truth is over the last 18 months MILLIONS of jobs have been created.
It is tough out there, but things are getting better. Things are looking up. Let's remember where we've fallen from and how far that fall truly was. As far as the elction goes, if we average 200k until November, Obama will have put a cool 1.5+ million jobs in the bank right before the election, possibly putting him at a net positive after the bloody carcass of an economy he took control over. I along with others am fearful of how oil's choke collar on growth will affect the recovery over the next few months, but we are still chugging along.
The news regarding our dwindling trade deficit will also lead to some more upwardly revised estimates for last qtr's GDP number, which is of course more good news. Let's keep the focus on growth and give credit where it is due: let's hope Gallup keeps these numbers high.