Companies Kept Adding Workers This Month: U.S. Economy Preview

Bloomberg ^

[Lunatic Fringe]

May 30 (Bloomberg) -- The Labor Department may report Friday that U.S. companies added 225,000 workers to their payrolls last month, fueled by an economy that's raced ahead at the fastest clip since 1984, economists said. The projected increase would bring to almost 850,000 the number of jobs created since March, for the best three months of job creation since the year 2000. The Labor Department may also report the unemployment rate held at 5.6 percent.

Separate reports from the Institute for Supply Management are forecast to show manufacturing and the service industry expanded this month. A report from the Commerce Department is projected to show that construction spending rose in April.

``It's hard to say the economy is slowing if you get payrolls growing more than 200,000 and an ISM index above 60,'' Robert Mellman, an economist at J.P. Morgan Securities Inc. in New York, said. ``The economy is doing just fine.''

[Paul Atreides]

fueled by an economy that's raced ahead at the fastest clip since 1984, economists said.

Who freakin' cares?!!! An Iraqi prisoner had panties placed on his head. /sarcasm

[Josh in PA]

Easy Prediction for Friday from the mainstream press:

"The labor department reported today that the TRBNMR Index fell 0.2 and the ZZRATSYS index rose 2 points indicating that the economy may not be growing as fast as some previous thought."

That's what I've heard on ABC Radio, Top of the hour news for the past 2 months.

[upchuck]

President Bush REALLY needs to do something about this!

[VOA]

Companies Kept Adding Workers This Month: U.S. Economy Preview

New York Times Version:
"Cruel American Taskmasters Increase Slave Workforce"

[Cap Huff]

"It's hard to say the economy is slowing if you get payrolls growing more than 200,000 and an ISM index above 60. . . "

No, its easy. Some doom and gloomers do it without any trouble at all, even in their sleep I suppose.

[Josh in PA]

Another one: "The employment rate of manufacturers of wool clothing in Ohio who use domestic wool that was raised on farms with less than 5 acres of land fell 0.2 percent today, indicating an economic slowdown could be on the way."

[TASMANIANRED]

Bush is to blame.:-}

[Paul Atreides]

Oh, no! This can be attributed to Bubba, just as we defeated Saddam with Bubba's military. However, that was before it became a quagmire, which is Bush's fault.

[TennTuxedo]

"Job gains are coming at a time when gasoline prices have reached record highs and mortgage interest rates are a percentage point higher than they were a month ago. Polls last week showed President George W. Bush's job approval ratings have dropped to the lowest of his presidency as a majority disapprove of the way he is handling economic policy"

Here we have the most vibrant and productive economy in 20 years and we have people disapproving of the way the President is handling the economy? This tells anyone with half of a brain that the media is not allowing the real news about the U.S. economy to see the light of day.

[alloysteel]

Now listen, all these people being hired NOW only means that sometime up in the future, probably quite soon, they will all have to be laid off, as the economic bubble bursts, so the "last hired" are the "first fired", suddenly releasing a vast number of disgruntled ex-employees who vote against whoever is in office.

Montgomery Burns rubs his hands together, and says to his assistant, Smithers, "Excellent! My friend George Soros could not have done better!"

[Josh in PA]

Here we have the most vibrant and productive economy in 20 years and we have people disapproving of the way the President is handling the economy? This tells anyone with half of a brain that the media is not allowing the real news about the U.S. economy to see the light of day.

===


Is there anything we can do though...

I feel helpless as I watch the media just bury everything that might give Bush a boost and beat the dead horse on everything that hurts him.

A year ago. "I'm Dan Rather and this is CBS Evening News. Now, to the top story, The Labor Department reported today that 150,000 jobs were lost last month, bringing the lost jobs total to 3 million since President Bush took office."

This Friday. "I'm Dan Rather and this is CBS Evening News. Now, to the top story, New photos were released today of the prison abuse scandal."

[goodnesswins]

Well....I think the "media" will continue to be losing jobs, as they cannot maintain their lying POS organizations in the face of the truth for much longer.....INTERNET NEWS RULES!!!

[hermgem]

Read a report today about planned layoffs by Timken in Canton, Ohio.
Unions are in negotiations for some time about ways to come up with resources to modernize several plants.
Lay off proposals are obviously a reminder that unions do not seem to cooperate.
Usual reasons by employees lay blame on trade agreements, which are of course those that are the fault of Bush.
These employees need to remember that up to this time things are within their direct influence, provided sticky profitability reasons can be mutually agreed upon.
It's in the employees, or better the unions hands now, once a no go, or shut down decision is made, it will be too late.
To think Timken is just bluffing could be fatal.