Resilient Economy

Post by
Scott Francis

It's hard not to be impressed by the performance of the US economy.? Every time we've seen some bad data reported on the economy (e.g. first quarter GDP), it has been contradicted in many ways by our own experience working with customers.? Of course, it is always reassuring to see the positive view born out by statistics in the longer run.

Last week's jobs report confirmed what we're seeing with customers, and in Austin - the economy and job market is healthy:

WASHINGTON ? Job growth surged in June, capping the best first half since 1999, driving blue-chip stocks to a record high and prompting analysts to say the economy is shifting to a higher gear.
Employers added 288,000 jobs last month, the Labor Department said, pushing the unemployment rate down two-tenths of a percentage point to 6.1 percent, where it last was in September 2008.

The new jobs exceeded economists? expectations that the economy would add about 200,000 jobs last month. Statisticians also increased May?s already strong preliminary jobs number by 7,000 to 224,000, and April?s number by 22,000 to 304,000.

Not that there aren't still challenges, but if you string enough months together like June, and you have a pretty good economy.

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