Skip to main content

Representative David Schweikert - Vice Chairman

June 5, 2015 Review: Context for May Jobs Report

June 5, 2015 Review: Context for May Jobs Report

Related Image

Friday morning’s employment numbers follow a first-quarter 2015 GDP growth revision to a negative 0.7% rate, and warnings that the second quarter may not rebound substantially indicate that 2015’s GDP will hardly rise by the 3.4% projected by the White House in January. The notable 280,000 nonfarm payroll jobs added, in addition to the topline unemployment rate remaining well below recession highs, may have some pointing to this as a sign of continued economic recovery. However, until we take steps to fill the “jobs gap,” new workers, discouraged and underemployed workers bear the greatest cost.

Latest News