Friday, March 5, 2004
US Economy Adds a Whopping 21,000 Jobs
130,000 jobs were expected to be created, we managed 21,000. I wish I still had access to CNBC so I could see Elaine Chao spinning like a dreidel after this report...
I've tackled this subject in this space before, as this seems to happen on almost a monthly basis. And like the many other times this has happened, not only did the economy fall short of hitting the mark where jobs are concerned, last month's number was once again revised down.
The latest snapshot of the employment climate released by the Labor Department Friday depicted the painfully slow job growth the country has been enduring. The net gain in payrolls in February fell well short of the 125,000 jobs that economists had been forecasting.
Moreover, the job gains in January were revised to show a pickup of just 97,000 positions, down from the 112,000 first estimated a month ago.
P.S. Don't forget what Vice President Cheney said this week:
"If Democratic policies had been pursued over the last two-to-three years, the kind of tax increases both Kerry and Edwards are talking about, we would not have had the kind of job growth that we've had."
He may be right. If Kerry or Edwards were president, the economy may have had stronger job growth!
Emphasis: Mine. Don't like it? Tough noogies!
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