After a 288,000 increase in jobs for June gave some hope for an improving economy. The latest numbers of 209,000 together with 4.0% GDP estimation for the 2nd quarter which followed an upwardly revised -2.1 first quarter have show that we still haven't turned a corner. In order to get theunemployment rate to its peek low under the Bush recovery at those same labor participation rates that democrats complained were too low at the time we would need 3 to 4 hundred thousand jobs a month for a long time. GDP for the year is still only.about .9%. The administration had estimated a non-eventful 3% prior to the start of the year.
Qarterly Growth Rates