It was a pretty good U.S. jobs report that came out today. 217,000 were added in May, with the unemployment rate staying at 6.3%. There were also very small downward revisions of 6,000 total for the other months, so it ended up a bit better than I expected. Most noteworthy is that the country has finally, gained back all of the 8.7 million jobs lost since the previous high mark of U.S. employment, which was back in January 2008. It also means we (hopefully) can retire this infamous chart from the Calculated Risk blog.
By the way, notice that the job recoveries keep stretching longer and flatter as time goes on, especially in our last 3 recessions (1990, 2001, and 2007)? Gee, you think "free trade", deunionization, and lower taxes on capital gains might have a little to do with this?
Calculated Risk also has a lot of other job-related stats for the last decade on its site today, so give it a look if you get a chance. One interesting item to note is that 2014 is on pace to gain the most jobs out of any one year since 1999.
Job growth, 2007-2014
2007 +1.140 million
2008 -3.576 million
2009 -5.087 million
2010 +1.058 million
2011 +2.083 million
2012 +2.236 million
2013 +2.331 million
2014 +2.563 million (12-month pace)
Guess the start of Obamacare in 2014 really killed job growth, didn't it? :P
The May growth also means Wisconsin needs to add 4,600 more jobs for May, or else the Walker jobs gap will grow even higher than the 54,000+ private sector gap that we have today. It's been a long road back for U.S. jobs, and austerity crap like we've seen in Wisconsin has certainly made the slog a lot longer and harder than it needed to be.