Posted on 11/08/2003 2:40:55 AM PST by kattracks
Edited on 05/26/2004 5:17:20 PM PDT by Jim Robinson. [history]
November 8, 2003 -- So much for the jobless recovery. The economy added 126,000 new jobs in October, according to the Department of Labor - twice as many as analysts expected, and the third month in a row that businesses added to their payrolls.
(Excerpt) Read more at nypost.com ...
Wonder what their next one will be?
Daschle deeply saddened (for the dem party)
Like the protectionist freepers who've been saying that we'll never get jobs without raising import taxes. However, we may start seeing the the doomers claiming credit for the victory like Dick Gephardt saying that the recovery was caused by the Democrat's good tax-cuts in spite of the Republican bad tax-cuts.
| Isn't this about the time of year that cash register operators are added... The data are "Seasonal Adjusted", which means we're talking about creating more of those $60,000/year high paying software jobs that we thought were all going to India.
Data extracted on: November 8, 2003 (7:46:21 AM) Labor Force Statistics from the Current Population Survey
BTW, when you look at total employment since July, we've gained 536,000 new jobs. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Would "bye-bye" go good with ketchup?
Yep. They'll teach you all about that when you're retrained for a McJob at the drive-thru window. It comes right after the lesson about asking "Do you want fries with that?"
Consumer debt increases in Sept. by largest amount since January
The new jobs added last month mostly were in lower-paying industries such as retail and temporary employment firms. Average weekly earnings in those sectors are $366 and $318 respectively, said John A. Challenger, chief executive officer of Challenger, Gray and Christmas, an employment research and recruiting firm. The national average is $521 per week." (Source)
Consumers can't afford very much debt on a WalMart wage.
There is no reason to believe that the debt-inflated service employment bubble is sustainable.
Especially with low-wage service sector jobs.
That's what I heard too. On Fox News, they said the data did not factor in holiday seasonal hiring.
There have been more "real" jobs showing up on job boards in this area just in the last couple of weeks. Noticeably more.
Sorry, gloom and doomers. :)
But yesterday's report showed that income growth was tapering off without any growth in jobs. The yearly rate of wage gains dropped dramatically in the past two years from more than 4 percent to 2.4 percent — the lowest in a decade. The increase in take-home pay provided by President Bush's tax cuts served mostly to mask the marked downtrend in wage income, economists said....
"This time around, however, it is an indication of structural change in the labor markets. Businesses can no longer afford the costly burden of health and pension benefits."
There's no doubt that Karl Rove is so desperate for good news that he's sent out pages and pages of talking points to hype this report.
But it's a myopic kneejerk reaction that'll backfire in Dubya's face. People vote their pocketbooks, and they KNOW how much money they earn. All this hoopla about low quality McJobs will only fuel voter perception that Dubya is "out of touch" with reality, just like Papa Bush was.
"It's the economy, stupid."
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
