For the first time this century the United States saw more than 200,000 jobs added to the economy for four months in a row. This and other data are pointing to a US economy in definite recovery mode, despite the continuing difficult economic struggle still experienced in Europe and Asia.
May’s gain of 217,000 jobs puts an official end to the Great Recession with the complete replacement of all the jobs that were lost during the previous economic crisis. This news accompanies other indicators that American consumers are gaining their confidence back in the economy. Service companies and manufacturers are growing and expanding.
“I don’t think we have a boom, but we have a good economy growing at about 3 percent,” said John Silvia, chief economist at Wells Fargo. “We’re pulling away from the rest of the world.”
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