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US economy doing well

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The Bush administration got some unaccustomed good news Friday. The US economy appears to be humming along nicely. Statistics from the Labor Department today reveal a net growth in jobs and stable unemployment rates. Americans were working hard in June. A new government report says getting a job last month was relatively easy. Employers added 132,000 workers to their payrolls during the month. That's about what economists were expecting for the monthly jobs report. What they weren't expecting, though, was upward revisions to the April and May report which found 75,000 additional jobs. Unemployment stayed steady at 4.5 percent -- a historically low level. So where were the jobs created? The health-care sector continues strong growth, adding about 30,000 jobs. Restaurants and bars hired up last month, too. The report says about 35,000 people landed jobs there during June. State and local governments brought new teachers, road workers and other officials on board during June, adding some 41,000 workers last month. Manufacturing continues its downward trend, with about 18,000 production positions being eliminated. Department stores also reduced their rolls, shedding about 10,000 jobs. Economists say the solid jobs growth during June probably means the overall economy will see at least 2.5 percent growth during the second quarter.

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