Unemployment Rate at 7.4%; 162,000 Jobs Created in July.

It?s that time of the month.? On the first Friday of the month, the White House trots out a statement about the 150,000-200,000 jobs created the previous month, how we?re still recovering from the worst economic crisis since the Great Depression, and how more work needs to be done. They didn?t disappoint with the release of the July numbers.

It?s an easy statement to write. It?s a cut-and-paste job because this economy has been in the same mediocre job-creation rut it?s been in for months. Even though jobs continue to be created, the amount is not enough to return to pre-recession employment levels anytime soon.

First, the top-line numbers: The unemployment rate fell slightly to 7.4%, and 162,000 jobs were created in July. According to the Hamilton Project?s jobs gap calculator, at this rate, it will take 10 years, 9 months to return to pre-recession employment levels,?and according to Zerohedge, 77% of the jobs created in 2013 are part-time.

Here are three things Washington can do now to grow the economy faster and create more jobs:

1. Keystone XL. Instead of downplaying thousands of new jobs?over 42,000 by the State Department?s estimate?the President should approve the Keystone XL pipeline now.
2. Immigration reform. Economists agree that a more-flexible labor market that provide American companies with needed workers of all skill levels will spur economic growth and create jobs.
3. Corral EPA. Get the agency to back off on proposed greenhouse gas rules that are shutting down coal-fired power plants and threatening reliable electricity and tell it to forget about duplicative federal rules on hydraulic fracturing.

This list just scratches the surface, but it?s a good start. Policymakers need to stop accepting this broken record of mediocre job numbers and do more to boost the economy and job creation.

Source: http://www.freeenterprise.com/economy-taxes/unemployment-rate-74-162000-jobs-created-july

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