Posted on 08/05/2005 5:35:42 AM PDT by RWR8189
In July 207,000 jobs were created, above expectations, and the unemployment rate held steady at 5.0%
Upward revisions for May and June as well.
95% OF THE PEOPLE WHO CAN WORK ARE WORKING!
Great news! Of course Kermit the Frog Greenspam & Co. will raise the interest rates on Tuesday.
Thank goodness that clown is gone at the end of the year!
I wonder how much his wife has made off the Market?
Just imagine what "real" tax reform would do.
If they did it right, we would see "Tiger" growth rates, and small businesses explode.
Still, for a "developed" economy to have this much growth, this level of unemployment and this level of inflation is pretty rare today, and has been pretty rare since ww2.
Didn't Clinton run his second campaign touting a 5.6% unemployment rate?
The only employment problem I have (and I've talked with a bunch of other businessmen in my area who have the same problem) is that it's impossible to find people to hire, they just aren't out there. I have to go try to steal employees from my competitors.
Good news! Of course, the democrats and/or whiners will say people are employed, but they are making less money OR some people have just given up finding work because it's the worst economy since Hoover and it's all Bush's fault.
Just kidding... This economy is good despite the 9/11 attacks and the corporate scandles that we have..
Absolutely awesome.
Also from the other day -- the lowest trade deficit since 1947.
He's made up a third of a trillion in the budget imbalance as well.
Economy's on a roll.
Series Id: LNS14000000 Seasonal Adjusted Series title: (Seas) Unemployment Rate Labor force status: Unemployment rate Type of data: Percent Age: 16 years and over |
|||||||||||||
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Annual |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1996 | 5.6 | 5.5 | 5.5 | 5.6 | 5.6 | 5.3 | 5.5 | 5.1 | 5.2 | 5.2 | 5.4 | 5.4 | |
| 1997 | 5.3 | 5.2 | 5.2 | 5.1 | 4.9 | 5.0 | 4.9 | 4.8 | 4.9 | 4.7 | 4.6 | 4.7 | |
| 2004 | 5.7 | 5.6 | 5.7 | 5.5 | 5.6 | 5.6 | 5.5 | 5.4 | 5.4 | 5.5 | 5.4 | 5.4 | |
| 2005 | 5.2 | 5.4 | 5.2 | 5.2 | 5.1 | 5.0 | 5.0 | ||||||
Prediction............there will be NO mention of this in the MSM.
It might be a half point this time.
Alan's trying to buy more bullets back for the next recession.
Of course their wont be any mention of it in the MSM. They have to lead with their latest 'Bush is lazy', 'Bolton was an abuse of power', or 'Roberts will turn back the clock on civil rights' stories.
[Begin thundering Ted Kennedy rant] "The economy is a shambles! People are suffering! The unemployment rate is down -- among the RICH!!!! But what about the poor???? Those Republicans don't care!" [End thundering Ted Kennedy rant]
The tax cuts haven't worked. They have benefited only the rich. Millions of Americans are losing their jobs... We need more taxes! </sarcasm>
Indeed and it's rare that you hear anything about the natural rate of unemployment these days (which I still subscribe to). I have it pegged right at 5% and anything lower might even be a problem.
Interest rate management is a tricky business. After 9/11 the rates were lowered to virtually nothing in order to stimulate the economy. This along with the tax cuts worked just fine, but it is important that rates be judiciously elevated if for no other reason then to have room for them to be lowered when the next business slow down occurs. Look what happened in Japan. They lowered rates to zero and when the economy failed to pick up significant steam, they had no where to go when the need again rose to "prime the pump"
Don't forget about Karl Rove..
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