207,000 Jobs Created in July, Unemployment Rate Steady at 5%

In July 207,000 jobs were created, above expectations, and the unemployment rate held steady at 5.0% . Upward revisions for May and June as well.

Companies that can no longer depend on efficiency gains to meet demand are hiring more, economists said. Average job growth this year is 191,000, more than the 183,000 in 2004, when the economy expanded the most since 1999. An index reflecting the number of industries hiring jumped to 62.8 in July, the highest since May 2004.

If Kerry had won the EM would be falling all over themselves cheerleading his magnificent accomplishment. With Bush being in charge, look for it on page 48-G.