The economy added 678,000 new jobs, greatly beating expectations (one Harvard economist admits he projected 150,000.) Unemployment dropped to nearly pre-pandemic levels.
The AP calls it “another gain that underscored the economy’s solid health as the omicron wave fades and more Americans venture out to spend at restaurants, shops and hotels despite surging inflation.”
“The Labor Department’s report Friday also showed that the unemployment rate dropped from 4% to 3.8%, extending a sharp drop in joblessness as the economy has rebounded from the pandemic recession.”
Dean Baker, senior economist at the Center for Economic and Policy Research:
#jobsday as expected, another very strong report 678k jobs, unemployment down to 3.8 percent
— Dean Baker (@DeanBaker13) March 4, 2022
Economist David Rothschild:
US has gained 506,000 more jobs in Biden’s first 13 months, than it did in Trump’s first 37 months (i.e., our peak month before the COVID crash). pic.twitter.com/SN0WpugCiq
— David Rothschild 🇺🇦 (@DavMicRot) March 4, 2022
Calling it “longest streak on record,” New York Times economics, business, and data reporter Ben Casselman notes: “We’ve added at least 400k jobs every month since May.”
Time for charts! (Will update as I get time.)
First off, the 678k gain in February was another in a streak of strong growth. We’ve added at least 400k jobs every month since May. That’s the longest streak on record. https://t.co/5S4o43pEde pic.twitter.com/tL8ECjgQ6Y
— Ben Casselman (@bencasselman) March 4, 2022
“This was an unambiguously strong jobs report,” writes economist and public policy scholar Justin Wolfers, a professor the Gerald R. Ford School of Public Policy at the University of Michigan.
“Strong payrolls growth. Similar strength in the household survey. Broad-based gains. People getting back to work. Robust revisions. And signs that wage growth may not be the constraint some had feared.”
Very very strong payrolls report: +678k jobs in February, with unemployment edging down to 3.8%. Add in solid positive revisions that added a total of +92k to the past two months, and this is a job market that’s really motoring.
— Justin Wolfers (@JustinWolfers) March 4, 2022
CNN Chief Business Correspondent:
678k. Strong jobs growth across sectors. For context, the average monthly jobs gain in 2019 was 164,000, https://t.co/HVOg6NmYpu
— Christine Romans (@ChristineRomans) March 4, 2022
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7th Victim of July 4th Mass Shooting Dies
Seven people have now died as a result of a gunman opening fire from a rooftop into an Independence Day parade in Highland Park, Illinois.
The latest victim succumbed to their injuries Tuesday afternoon, NBC 5 Chicago reported. Authorities have not identified all the victims, but have said five of those who died were adults. Another 46 people were wounded.
Police on Tuesday announced that the shooter fired at least 70 rounds into the crowd, using a “high-powered rifle” that is “similar” to a AR-15. They also revealed the suspected gunman planned the attack for weeks, purchased his weapons legally, disguised himself by wearing women’s attire to “conceal his facial tattoos and his identity,” and to “help him during the escape.” He then walked to his mother’s house after the shooting.
Law enforcement Monday evening arrested Robert Crimo, who they say is a “person of interest,” but he has not been charged.
“There are no words for the kind of monster who lies in wait and fires into a crowd of families with children celebrating a holiday with their community,” Illinois Democratic Governor J.B. Pritzker said in a statement. “There are no words for the kind of evil that robs our neighbors of their hopes, their dreams, their futures. There are no words I can offer to lift the pain of those they leave behind. Please know that our state grieves with you, that MK and I grieve with you.”
‘Planned for Weeks’: Highland Park Massacre Suspect Purchased Weapons Legally, Walked to Mother’s House After Shooting
The 21-year-old man suspected of being the shooter in Monday’s Highland Park, Illinois massacre planned the attack for weeks, purchased his weapons legally, disguised himself by wearing women’s attire to “conceal his facial tattoos and his identity,” and to “help him during the escape.” He then walked to his mother’s house after the shooting, police said in a Tuesday press conference.
Six people died and over thirty others were wounded.
The “high-powered rifle” Robert Crimo used is “similar to an AR-15,” Christopher Covelli, a spokesperson for the Lake County major crimes task force told reporters. He used it to “fire more than 70 rounds into the crowd.”
Crimo later borrowed his mother’s car.
Police say there was no one else involved. They add they were aware of him through previous interactions but those were not violent.
Law enforcement announces that they believe that Robert Crimo “preplanned this attack for several weeks” and that during “during the attack he was dressed in women’s clothing” to help conceal his facial tattoos and identity so he could flee during the chaos. pic.twitter.com/GCruC12276
— Justin Baragona (@justinbaragona) July 5, 2022
President Biden: ‘Jill and I Are Shocked by the Senseless Gun Violence’ at Highland Park July 4th Mass Shooting
“Jill and I are shocked by the senseless gun violence that has yet again brought grief to an American community on this Independence Day,” the President says in his statement. “As always, we are grateful for the first responders and law enforcement on the scene. I have spoken to Governor Pritzker and Mayor Rotering, and have offered the full support of the Federal government to their communities.”
“I also surged Federal law enforcement to assist in the urgent search for the shooter, who remains at large at this time. Members of the community should follow guidance from leadership on the ground, and I will monitor closely as we learn more about those whose lives have been lost and pray for those who are in the hospital with grievous injuries.”
President Biden notes that he “recently signed the first major bipartisan gun reform legislation in almost thirty years into law, which includes actions that will save lives. But there is much more work to do, and I’m not going to give up fighting the epidemic of gun violence.”
The President and the First Lady are expected to speak around 5 PM Monday to deliver Independence Day remarks during their barbecue at the White House with veterans.
News reports state the shooter, who has not been apprehended, is believed to be a white man, 18-20 years old, armed with a high-powered rifle.
Many on social media are criticizing the NRA, which posted a tweet tying guns to Independence Day barely hours before the mass shooting began. It reads: “The only reason you’re celebrating Independence Day is because citizens were armed.”
There were many police officers at the Highland Park parade, yet the shooter was able to inflict great loss of life, a massive number of wounded victims, and massive terror. Nearby towns canceled their Fourth of July celebrations in response.
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