GOOD ECONOMIC REPORT? – AT 8:47 A.M. ET:  It looks good on the surface.  From the Washington Examiner: 

Employment growth accelerated in June, suggesting that the fragile economic recovery continues despite the reported sharp contraction in the first quarter.

The economy added 288,000 payroll jobs and the unemployment rate fell to 6.1 percent, the lowest rate since before the worst days of the financial crisis in September 2008, the Bureau of Labor Statistics reported Thursday morning. Both measures exceeded expectations.

COMMENT:  Given the record of this administration, I'll wait and see.  Yes, that's a pretty strong report, but remember that we must create 150,000 jobs each month just to keep up with population growth. 

Also, we must ask what kind of jobs these are.  Full time?  Quality jobs or dead enders?  And we must also ask if there was any wage growth, one of the true measures of economic progress.  American workers have been running in place or losing ground for years. 

Finally, figures are adjusted, and I'd like to see, in a month or so, where the adjustment leads.

July 3, 2014