Thursday, July 3, 2014

BCREA ECONOMICS NOW US Employment - July 3, 2014

The US economy added a robust 288,000 jobs in June,  while employment growth in April and May were revised higher by 29,000 jobs. The US unemployment rate fell 0.2 points to 6.1 per cent.  

In spite of a disastrous first quarter of economic growth, the US economy is clearly improving. Over the past three months, US job growth has averaged 272,000 jobs per month and the unemployment rate has fallen to its lowest level since September of 2008. We expect US economic growth to pick up considerably for the remainder of 2014, which should provide a significant boost to the BC economy and keep consumer demand in BC housing markets healthy.