The Bureau of Labor Statistics published payroll numbers this morning and they are very surprising…
After months of under performance, the U.S. economy finally added more jobs than expected in June.
Reports state that nonfarm payrolls increased by 850,000 versus the estimate of only 706,000.
Unfortunately, the unemployment rate rose to 5.9%, which was more than the predicted 5.6% rise. This is most likely due to the continued unemployment benefits favored by the Biden administration.
Economists favored by the liberal media are calling this data “a stunning continuation of a rebound helped by vaccines that have sharply reduced Covid-19 case rates along with hospitalizations and deaths.”
They’re predicting over 10% GDP growth in the second quarter, which would be a major point of bragging for Biden in the upcoming 2022 elections.