Actually I'm glad to see the numbers come out as they have over the past few months. We know the bulk of the jobs in the March numbers were part time and were helped by the grocers strike coming to an end on the West Coast, so to see the current month numbers will show that it is more of the same. My biggest worry is that the highly paid donors will hire people to show good job numbers, then fire them after the election. Close to half (123,000) of the job growth came in the Professional and Business Services sector. Since the first of the year, there has been a net increase of only 3,000 jobs in this sector. It makes me wonder if the number is true.
Posted by outofcontrol at May 7, 2004 09:49 AMLast year, Rove's strategy was to plan for a good war that would insulate Bush from the consequences of a bad economy.
At the time, I couldn't help thinking how ironic it would be if the economy improved and the war turned to shit, costing Bush any chance at re-election.
Guess what?
Posted by Zak at May 7, 2004 10:57 AMThis could be the best of both worlds.
Why is it that the BLS will not make a point of stressing the fact that another 116,000 are no longer in the labor force? That is a number that should be counted against the "jobs" number. I think Iraq will be this president's downfall as will Plamegate. I keep hearing they are close to indictments. If so, it's another scandal (treason) that will haunt them during the campaign.
Posted by outofcontrol at May 7, 2004 11:36 AMFantastic economic news for Bush today.
Posted by muckdog at May 7, 2004 12:08 PMOn the surface it looks good. Let's wait to see how it gets analyzed over the weekend. I realize all anyone will look at who isn't in tune to what is going on in this world is the raw 288,000 number. But, the markets are beginning to talk - DOW was down 123 today and has been trending down since the beginning of the year (down 7 of the last 10 days). With inflation creeping in, interest rates will rise (look at the 10 year T Bill - now at 4.77%) and see what happens when REFI's slow way down, as they have begun to do. Not such good news for the administration. If the economy is running so smoothly, how come there isn't more investor confidence? Insider trading is at a very high pace, so we need to wait and see what happens. My 401K is in cash right now and has made more money than my friends invested in stock mutual funds.
Posted by outofcontrol at May 7, 2004 01:26 PMNO mr. muckdog once again, not fantastic news for mr. Bush today, fantastic news for those 2.8 million people who lost their job under Bush's watch over the past 3 1/2 years.
Posted by emal at May 7, 2004 05:59 PMIt would be interesting to see what percentage of these new jobs offer health and retirement benefits. It looks like the professionals are taking 2nd jobs to offset the costs for education, insurance, mortgage and other expenses not being funded by the tax dollars they paid in from their primary jobs.
Posted by tim at May 7, 2004 08:39 PMIt's amazing, growth and jobs since last quarter, and there's the "wait and see", "yeah but". This from the "It's The Economy Stupid" Dems. Guess what, whe you guys were saying this, unemployment was higher and the GDP was smaller. Just what un-employment number would you claim as normal/good, and when did this happen previously. Does anyone think that 9/11 forced any small business, or people to lose their job's? Tell me what Bush policy caused the nation to slip in to a resession in his first quarter? You should probably stick to attacking W on the war, because the economy is doing to good for real complaints.
Posted by gobush at May 8, 2004 03:26 PM