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Thread: Jobs Report

  1. #1
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    U.S. Added 96,000 Jobs in September, Fewer Than Expected
    By REUTERS

    Published: October 8, 2004


    Filed at 9:15 a.m. ET

    WASHINGTON (Reuters) - U.S. businesses added 96,000 jobs to payrolls in September, the government reported on Friday, a weaker-than-expected total that was expected to sharpen a presidential debate later in the day over the economy's direction.

    The Labor Department report, showing the unemployment rate in September held steady at 5.4 percent, will provide fodder for the second debate between President Bush and Democratic Presidential contender Sen. John Kerry. It was the final jobs report before the Nov. 2 presidential election with polls indicating that jobs are of paramount concern to voters.

    The September job-creation total came in below Wall Street economists' forecasts for 148,000 new jobs. The department also revised down its estimate of August new jobs to 128,000 from 144,000 it reported a month ago.

    Most jobs in September came in the services sector, while manufacturers shed 18,000 jobs last month after increased hiring in the two prior months.

    Though four hurricanes swept through the Southeast during August and September, which Labor said likely held down employment growth, it concluded the impact was minimal.

    The Bureau of Labor Statistics commissioner, Kathleen Utgoff, said ``we do not believe the net result of...(the hurricanes) materially changes the national employment situation, but we cannot precisely quantify the weather effects.''

    Analysts described the jobs number as weak.

    ``It is a disappointing number, it suggests the economy is still not growing particularly quickly,'' said economist David Sloan of 4Cast Ltd. in New York. The U.S. Federal Reserve has raised short-term interest rates three times this year -- from 46-year lows in June -- to 1.75 percent and analysts said the jobs report left room to keep raising them but not by much.

    ``For the Fed, I think our view has been for a while that the next move will be the last one and that the fed funds rate stays at 2 percent until the end of 2005,'' predicted Jason Daw, a foreign exchange strategist at Merrill Lynch in New York.

    The dollar dropped sharply against the euro after the number was issued, apparently in the belief it raised questions about the durability of U.S. economic growth, while bond prices increased.

    Labor also said that, according to preliminary estimates, the economy added about 236,000 more jobs than previously thought in the year ended March 2004, and it will incorporate the change into benchmark revisions issued in February.

    After including the projected change, it appears that about 585,000 jobs have been lost since President Bush took office in January 2001.

  2. #2
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    Bush should have raised taxes, that would have created a ton of more jobs, huh?

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    [quote][i]Originally posted by jets5ever[/i]@Oct 8 2004, 10:35 AM
    [b] Bush should have raised taxes, that would have created a ton of more jobs, huh? [/b][/quote]
    George,

    Perhaps if Bush maintained a balanced federal budget and didn't spend $ like a drunken sailor we may have seen better job growth during his only term.

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    [quote][i]Originally posted by jets5ever[/i]@Oct 8 2004, 10:35 AM
    [b] Bush should have raised taxes, that would have created a ton of more jobs, huh? [/b][/quote]
    I dont really believe there is a magic wand for the President (any President) to wave to create jobs. I was just posting an article that would interest some people who are heading into the debate tonight. You know it will be talked about.

    5ever, Hows your wife doing?

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    I think this months # is a non event as far as tonights debate is concerned. The # was below est. but not enough to be a total bust. The real issue is gonna be the overall trend of the past year. Bush is gonna say 1.8 millions jobs have been created in the past 13 months and Kerry is gonna say there is still a net job loss since Bush took office. It's all who spins the #'s best.

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    [quote][i]Originally posted by kevin45[/i]@Oct 8 2004, 10:40 AM
    [b] I think this months # is a non event as far as tonights debate is concerned. The # was below est. but not enough to be a total bust. The real issue is gonna be the overall trend of the past year. Bush is gonna say 1.8 millions jobs have been created in the past 13 months and Kerry is gonna say there is still a net job loss since Bush took office. It's all who spins the #'s best. [/b][/quote]
    The last president to have negative job growth during his term was Herbert Hoover.

    I think that says it all.

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    the countless billions spent on turning Iraq into haites could have been spent on creating jobs!
    go figure!

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    [quote][i]Originally posted by valleyjet[/i]@Oct 8 2004, 10:42 AM
    [b]
    The last president to have negative job growth during his term was Herbert Hoover.

    I think that says it all. [/b][/quote]
    That's why you're a simpleton.

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    george5ever... Have a great weekend.

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    "The last president to have negative job growth during his term was Herbert Hoover"

    I guess that inherriting a recession which was compounded by the economic devestaion of 9/11 and further compounded by the corporate scandels of the Clinton years have nothing to do w/ it, huh ? Reciting Democratic talking points like this w/o actually thinking behind the #'s does nothing but cause you to embarrass yourself. Oh by the way the unemployment rate is 5.4%. The same rate as when Clinton ran for re-election in 96' while telling us how great the economy was.

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    [quote][i]Originally posted by kevin45[/i]@Oct 8 2004, 10:59 AM
    [b] "The last president to have negative job growth during his term was Herbert Hoover"

    I guess that inherriting a recession which was compounded by the economic devestaion of 9/11 and further compounded by the corporate scandels of the Clinton years have nothing to do w/ it, huh ? Reciting Democratic talking points like this w/o actually thinking behind the #'s does nothing but cause you to embarrass yourself. Oh by the way the unemployment rate is 5.4%. The same rate as when Clinton ran for re-election in 96' while telling us how great the economy was. [/b][/quote]
    He also nelected to mention the biggest factor which was dealing with the fallout from the stock market bubble. They were hiring people like crazy in the late 90's. It couldn't possibly be sustained.

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    [quote][i]Originally posted by kevin45[/i]@Oct 8 2004, 10:59 AM
    [b] "The last president to have negative job growth during his term was Herbert Hoover"

    I guess that inherriting a recession which was compounded by the economic devestaion of 9/11 and further compounded by the corporate scandels of the Clinton years have nothing to do w/ it, huh ? Reciting Democratic talking points like this w/o actually thinking behind the #'s does nothing but cause you to embarrass yourself. Oh by the way the unemployment rate is 5.4%. The same rate as when Clinton ran for re-election in 96' while telling us how great the economy was. [/b][/quote]
    Democratic talking points?! :lol:

    Your whole response is nothing more than regurgitated RNC talking points!

    BTW...The recession didn't begin until March 2001 two months after Bush was sworn in.

    Nevertheless let me go on to say that even if Gore was president in 2001 we would've had a recession anyway. However, I think its fair to say that the Bush Federal deficits compounded the effects of the inevitable reccession and have made it mush more difficult to recover than it would've been had the federal government maintained the fiscal dicipline of the Clinton years.

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    Balancing the budget is definately a plus for Clinton. He was smart enough to sign the budget that Congress gave him. And you are right that we were headed for a recession no matter who was in office. But I believe, as does Alan Greenspan, that tax cuts helped the recovery. Now I'll admit that Bush's spending is out of control and it's hurt the deficit. But the surpluss was based on an economy that looking back was a bubble and you have to admit those levels were unsustainable. Also as a % of GDP, which I think is currently @25-30%, the deficit is actually below historical levels. I don't have a stat to back that up, but there was an article in the Nat Review a few weeks back that I could find if needed.

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    [quote][i]Originally posted by kevin45[/i]@Oct 8 2004, 11:27 AM
    [b] Balancing the budget is definately a plus for Clinton. He was smart enough to sign the budget that Congress gave him. And you are right that we were headed for a recession no matter who was in office. But I believe, as does Alan Greenspan, that tax cuts helped the recovery. Now I'll admit that Bush's spending is out of control and it's hurt the deficit. But the surpluss was based on an economy that looking back was a bubble and you have to admit those levels were unsustainable. Also as a % of GDP, which I think is currently @25-30%, the deficit is actually below historical levels. I don't have a stat to back that up, but there was an article in the Nat Review a few weeks back that I could find if needed. [/b][/quote]
    The GOP- controlled congress during the majority of Clinton's term was a major, major reason why spending was kept down at managable levels. If the Democrats had controlled Congress, Clinton would have gotten more bills passed, or the ones that did pass would have remained at their original, higher spending levels. This is what we see today, with the same party controlling the Presidency and both houses on Congress - it is not exactly a recipe for fiscal discipline.

    Bush spends like a drunken sailor, it's annoying!

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    Hey, Hows your wife 5ever?

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    [quote][i]Originally posted by valleyjet+Oct 8 2004, 11:07 AM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>[b]QUOTE[/b] (valleyjet @ Oct 8 2004, 11:07 AM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-kevin45[/i]@Oct 8 2004, 10:59 AM
    [b] "The last president to have negative job growth during his term was Herbert Hoover"

    I guess that inherriting a recession which was compounded by the economic devestaion of 9/11 and further compounded by the corporate scandels of the Clinton years have nothing to do w/ it, huh ? Reciting Democratic talking points like this w/o actually thinking behind the #&#39;s does nothing but cause you to embarrass yourself. Oh by the way the unemployment rate is 5.4%. The same rate as when Clinton ran for re-election in 96&#39; while telling us how great the economy was. [/b][/quote]
    Democratic talking points?&#33; :lol:

    Your whole response is nothing more than regurgitated RNC talking points&#33;

    BTW...The recession didn&#39;t begin until March 2001 two months after Bush was sworn in.

    Nevertheless let me go on to say that even if Gore was president in 2001 we would&#39;ve had a recession anyway. However, I think its fair to say that the Bush Federal deficits compounded the effects of the inevitable reccession and have made it mush more difficult to recover than it would&#39;ve been had the federal government maintained the fiscal dicipline of the Clinton years. [/b][/quote]
    Where in economic theory does it ever state that deficit spending can hurt the economy? No where. If anything economic theory tells us that in times of recession increases in govt spending helps stimulate the economy.

    Your answer is so incredibly uninformed that I was actually shocked to see it put into writing. You have proven yourself to be a fraud.

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    [quote][i]Originally posted by 4th&Long[/i]@Oct 8 2004, 11:56 AM
    [b] Hey, Hows your wife 5ever? [/b][/quote]
    She&#39;s well 4th, thanks for asking. She&#39;s been chatty, she&#39;s back at work. She&#39;s been eating better. She actually hasbn&#39;t cried ro brought it up for almost three days...which is encouraging. You can become consumed with grief if you don&#39;t get control of it.


    She&#39;s determined to start trying again as soon as we are medically cleared to do so, in about another three weeks. I was surprised; I guess some women like to wait, but she&#39;s determined.

    I may have to roll up my sleeves and get to work&#33; ;)

    But seriously, thank you for asking....

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    [quote][i]Originally posted by jets5ever+Oct 8 2004, 01:06 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>[b]QUOTE[/b] (jets5ever @ Oct 8 2004, 01:06 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-4th&Long[/i]@Oct 8 2004, 11:56 AM
    [b] Hey, Hows your wife 5ever? [/b][/quote]
    She&#39;s well 4th, thanks for asking. She&#39;s been chatty, she&#39;s back at work. She&#39;s been eating better. She actually hasbn&#39;t cried ro brought it up for almost three days...which is encouraging. You can become consumed with grief if you don&#39;t get control of it.


    She&#39;s determined to start trying again as soon as we are medically cleared to do so, in about another three weeks. I was surprised; I guess some women like to wait, but she&#39;s determined.

    I may have to roll up my sleeves and get to work&#33; ;)

    But seriously, thank you for asking.... [/b][/quote]
    Thats great to hear. I am glad things are looking up...

  19. #19
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    [quote][i]Originally posted by jets5ever+Oct 8 2004, 01:06 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>[b]QUOTE[/b] (jets5ever @ Oct 8 2004, 01:06 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-4th&Long[/i]@Oct 8 2004, 11:56 AM
    [b] Hey, Hows your wife 5ever? [/b][/quote]
    She&#39;s well 4th, thanks for asking. She&#39;s been chatty, she&#39;s back at work. She&#39;s been eating better. She actually hasbn&#39;t cried ro brought it up for almost three days...which is encouraging. You can become consumed with grief if you don&#39;t get control of it.


    She&#39;s determined to start trying again as soon as we are medically cleared to do so, in about another three weeks. I was surprised; I guess some women like to wait, but she&#39;s determined.

    I may have to roll up my sleeves and get to work&#33; ;)

    But seriously, thank you for asking.... [/b][/quote]
    Good to hear...Hang in there jets5ever and continue to take good care of each other we&#39;re all pulling for you&#33;

  20. #20
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    [quote][i]Originally posted by valleyjet+Oct 8 2004, 01:12 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>[b]QUOTE[/b] (valleyjet @ Oct 8 2004, 01:12 PM)</td></tr><tr><td id='QUOTE'> [quote]Originally posted by jets5ever@Oct 8 2004, 01:06 PM
    [b] <!--QuoteBegin-4th&Long[/i]@Oct 8 2004, 11:56 AM
    [b] Hey, Hows your wife 5ever? [/b][/quote]
    She&#39;s well 4th, thanks for asking. She&#39;s been chatty, she&#39;s back at work. She&#39;s been eating better. She actually hasbn&#39;t cried ro brought it up for almost three days...which is encouraging. You can become consumed with grief if you don&#39;t get control of it.


    She&#39;s determined to start trying again as soon as we are medically cleared to do so, in about another three weeks. I was surprised; I guess some women like to wait, but she&#39;s determined.

    I may have to roll up my sleeves and get to work&#33; ;)

    But seriously, thank you for asking.... [/b][/quote]
    Good to hear...Hang in there jets5ever and continue to take good care of each other we&#39;re all pulling for you&#33; [/b][/quote]
    Thanks, man.

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