The good news is that the economy added 248,000 jobs in May.
The bad news is that the unemployment rate is still unchanged, and there’s still a large net loss of jobs during this administration’s watch: 1,300,000. However, if this level of job creation keeps up for the rest of the year, Bush will narrowly avoid being remembered along with Herbert Hoover as leaving office with fewer Americans working than when he started.
We’ll see. Regardless, I think this just convinces me all the more that the president has precious little to do with the economy. He can nudge it, talk it up, but when it comes down to it, I don’t think he can control it.
