Despite adverse shocks that have created headwinds for economic growth the economy has added private sector jobs for 26 straight months, for a total of 4.25 million payroll jobs over that period. With upward revisions of 65,000 jobs to the past two months’ employment reports, in the first quarter of 2012 private employment expanded by 697,000 jobs, the largest quarterly increase since the first quarter of 2006. So far this year, 827,000 private sector jobs have been added, on net.
