Transcript
Today's employment report shows an economy that is still moving forward, growing, and creating new jobs, but at a somewhat slower pace. Only 112,000 new payroll jobs were created in June, a more moderate rate of growth than in the last three months. It's not unusual or alarming for an economy to take a "breather" after three months of robust expansion. The modest nature of the report however should ease some of the fears about whether the economy is in danger of overheating and creating rapidly rising inflation. The U.S. economy is still moving forward and all performance indicators predict continued growth.
--Dr. Martin Regalia
Chief Economist
U.S. Chamber of Commerce
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