The BLS just released the jobs report for June 2013 and it beat expectations and included significant upward revisions to prior months. The Establishment Survey showed a total increase of 195,000 jobs for June (+202,000 private payrolls) and an additional +70,000 added to the April and May reports (making them much better than initially reported). The unemployment rate (which comes from a different survey) stayed at 7.6%, which was a result of an increase in the labor force and slightly smaller job creation numbers in that survey. Overall, the report was very positive and with continued reports in a similar range, the unemployment rate will go down and the economy will see some accelerated growth (+200k/month jobs does not equate to a <2% GDP rate).

The Obama economy is really doing much better than most seem to want to give credit for. While we all long for the days of 80s/90s job creation, that may not be realistic with our aging population and increasing productivity gains. When measuring since 2000 though, Obama already owns the #1 and #3 years for private sector job creation and this year would put him on pace to have #1, #2, and #4.