Patrick J. O’Keefe Discusses July Jobs Report In Media; Guest Co-Hosts on Bloomberg Radio
On Friday, August 1, the Department of Labor said that the U.S. economy added 209,000 jobs in July, marking the sixth month that more than 200,000 jobs have been added. The unemployment rate ticked up to 6.2% in July, from 6.1% in June.
On Friday, Pat spoke to media outlets about the report. He appeared on Bloomberg Radio’s Hays Advantage as a guest co-host to discuss the report in-depth. Pat explained:
- It’s a solid report; goods producing sectors drove month to month increase
- Job creation in the first seven months of the year best since 2005; economy has achieved "escape velocity."
- We've added 14 million work-age people since the recession began but only about 25% of those have turned up in the labor force.
In advance of the jobs report release, he told Wall Street Journal Radio’s Gordon Deal: “Overall, the first half of the year was the strongest first half we’ve seen since 1999 and expect that carry over in the second half.”
Shortly after the report’s release, Pat told WCBS Radio 880 in New York, “It’s a solid report; it does indicate that the jobs recovery is gaining momentum.” He adds, “This is a rise in unemployment that’s virtuous; people are gaining confidence in the jobs recovery.”
Read Pat’s jobs report expectations and analysis.