Muoio: ‘Economy Has Roared Back to Life'

IRVINE, CA—The national employment numbers for June, released this past Thursday due to the holiday falling on a Friday, offered cause for a Fourth of July celebration. Economists from Auction.com and Cassidy Turley duly lit off some fireworks, with Auction.com Research‘s Chris Muoio observing that “The economy has roared back to life this spring and summer, and will certainly keep the federal government on its current monetary projections, if not have them peeking at accelerating the process.”

At Cassidy Turley, Washington, DC-based Kevin Thorpe notes that June’s employment reports “reflect the economy’s strength.” The Bureau of Laor Statsitics reported that the US economy created 288,000 non-farm jobs last month, “easily beating the consensus forecast of 210,000.” Further, the BLS revised upward the figures for April and May, “adding 29,000 more jobs to the employment base than originally reported.”