Wages and salaries from April through June rose by $56.1 billion after a revised $133.5 billion first-quarter gain that was bigger than the previous estimate of $123.3 billion.
The U.S. economy is “not rip-roaring, but it’s certainly not on its heels,” Dave Barger, president and chief executive officer of JetBlue Airways Corp., told Bloomberg on Aug. 20. “We’re nowhere close to a recession,” he said.
Today’s report showed international trade held up, indicating weaker global economies had yet to slow demand for goods produced in the U.S. Net exports, which initially subtracted from second-quarter growth, contributed 0.32 percentage point to GDP.
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On the business side, today’s report offered a first look at corporate profits. Before-tax earnings rose 0.5 percent, after falling 2.7 percent in the prior period. They climbed 6.1 percent from the same time last year.
Yeah, that Obama guy is killing us, let’s put in somebody more in agreement with the policies that nearly sent our banking & auto industries over a cliff before it’s too late!
