Friday, August 6, 2004
Bush's Job-Loss Recovery Continues...
Brooding right wingers take note. In your eyes, this became Bush's economy when jobs started being created a few months ago.
It's all his now. Don't try to pin this on Clinton...
The nation's payroll growth slowed dramatically in July with a paltry 32,000 jobs being added_ a potentially troubling sign that the rough patch the economy hit in June was no aberration.
The unemployment rate, however, dipped down a notch to 5.5 percent last month, from 5.6 percent in June, the Labor Department reported Friday. The new jobless rate was the lowest since October 2001.
The payrolls figure and the unemployment rate can sometimes go in different directions because they are derived from two separate statistical surveys.
Economists, however, look more closely at the payroll figure as a better barometer of the health of the jobs market. The 32,000 net jobs added in July represented the smallest gain in hiring since December and followed a revised gain of just 78,000 in June, even less than previously reported. May's payrolls also were revised down to show a gain of 208,000.
If you choose to refer to this as celebrating bad news, just remember that someone close to me just became a victim of this "juggernaut" economy, so spare me...
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