04-06-2004 19:27									#1
	248,000 jobs created in US last month; 947,000 in last 3 Got spare money?

Let the good times roll!

Good news for Americans. Good news for Bush.

quote: US economy creates 248,000 jobs By Christopher Swann in Washington Published: June 4 2004 13:48 | Last Updated: June 4 2004 13:48 The US economy created 248,000 jobs in May, according to official figures released on Friday morning. The figures are likely to bolster confidence of a sustained revival in the labour market. nalysts had been expecting a more modest rise of closer to 223,000. The gain in May followed a job creation rate of 346,000 in April, revised up from 288.000. The rise in employment was relatively broadbased, with job gains in both the service sector, manufacturing and construction. Unemployment remained at 5.6 per cent and the workforce partcipation rate was also unchanged at 65.9 per cent. The figure provides further evidence that the long period of sluggish jobs growth after the end of 2001 recession has come to an end. It is also good news for George W. Bush who has been lambasted for the heavy job losses sustained by the US economy under his stewardship. However, Mr Bush is still on course to be the first president since the Great Depression to preside over a net loss of jobs during his term in office. The overall jobs total was reduced by a decline of 27,000 in government jobs, acording to the Labor Department.

http://news.ft.com/servlet/ContentS...p=1012571727088

	04-06-2004 19:37									#2
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Yeah, and don't forget the new vacancies at Spook Central too.

	04-06-2004 19:39									#3
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Is the mainstream media still ignoring the economic boom, DanS? I'm curious, given that I can't follow the American media easily anymore.

	04-06-2004 19:39									#4
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These are net positive jobs. The CIA jobs are not net positive.

	04-06-2004 19:42									#5
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quote: Is the mainstream media still ignoring the economic boom, DanS?

Well, they aren't ignoring it. Just burying it on page 28 behind all the negative Iraq news they choose to print.

Actually, the Washington Post has started to cover the story for the area, but not nationwide. The Washington area is roaring.

	04-06-2004 19:45									#6
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I can't believe that. Job growth in the manufacturing, construction, and service sectors are at or near 20-year-highs, yet it isn't on the front page?

	04-06-2004 19:48									#7
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quote: Originally posted by DanS These are net positive jobs. The CIA jobs are not net positive.

Oh, RIGHT... you mean they're in the fishing industry?

	04-06-2004 19:49									#8
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It's political football season, Drake. You're surprised?

Anyway, I doubt they can continue to downplay it for long.

	04-06-2004 19:49									#9
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Now if you had wage growth in those jobs, that would be nice too. I don't find it terribly thrilling when you have large job losses, then you get job growth back to a point that's almost as many jobs as you had before.

Especially when I know a lot of people who are now making < 50% to ~80% of their previous incomes.

	04-06-2004 19:49									#10
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Yay! Found a job 2 days ago and start next week.

	04-06-2004 19:53									#11
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quote: It's political football season, Drake. You're surprised?

But why would the media want to downplay the excellent economic news, even in an election year? You're not seriously claiming that the media has it out for Bush, do you?

	04-06-2004 19:56									#12
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quote: Yay! Found a job 2 days ago and start next week.

Good show!

quote: But why would the media want to downplay the excellent economic news, even in an election year?

One possibility is that they want the economy to be shitty so they can get rid of Bush.

	04-06-2004 19:58									#13
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quote: One possibility is that they want the economy to be shitty so they can get rid of Bush.

I don't believe it!!!

	04-06-2004 19:59									#14
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quote: Especially when I know a lot of people who are now making < 50% to ~80% of their previous incomes.

All politics is local, as they say. But things as they are, you probably know a lot of people who are getting paid more now than previously.

	04-06-2004 20:00									#15
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GePap in 1...2...3...

	04-06-2004 20:02									#16
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quote: I don't believe it!!!

Now, I'm not accusing anyone. I'm just saying that the pattern of the media could be construed rather easily to support such an assertion.

	04-06-2004 20:06									#17
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quote: Originally posted by DanS Now, I'm not accusing anyone. I'm just saying that the pattern of the media could be construed rather easily to support such an assertation.

I'm sure there is a good explanation for this rather odd pattern of behavior, an explanation that one of the many wise liberals on this board should provide any minute now...

	04-06-2004 20:09									#18
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Its crazy how liberals really WANT a crappy economy. I know several people who said it to me. They want people to be out of jobs, they want people to die in Iraq, they want terribly bad things to happen just so we can get rid of Bush.

Of course I want Bush gone too, but I don't want people to be unemployed and shot by terrorists.

	04-06-2004 21:02									#19
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Do you seriously think there's that big a liberal conspiracy in the media? Were all the headlines during Clinton's administration rejoicing over good times, while all bad news was burried in the back pages?

Bad news gets front page attention, good news doesn't. That's the way it always is, right or wrong.

	04-06-2004 21:10									#20
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quote: Originally posted by DanS All politics is local, as they say. But things as they are, you probably know a lot of people who are getting paid more now than previously.

For people who've had job changes, the overall balance is strongly negative. About 20% make the same or a little more, one (who moved here from out of state) is making substantially more.

For people with the same jobs, raises have been token.

	04-06-2004 21:32									#21
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I am one who got a new job and am now making more. My base salary is less, but my quarterly bonuses are much larger. You have to like pay for performance incentive structures.

	04-06-2004 21:44									#22
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quote: Originally posted by MichaeltheGreat Now if you had wage growth in those jobs, that would be nice too. I don't find it terribly thrilling when you have large job losses, then you get job growth back to a point that's almost as many jobs as you had before. Especially when I know a lot of people who are now making < 50% to ~80% of their previous incomes.

So then there has been no positive job growth? We just returned back to where we were before?

	04-06-2004 21:50									#23
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quote: So then there has been no positive job growth? We just returned back to where we were before?

We even haven't done that, yet. Bush lost far more than a million jobs.

	04-06-2004 21:57									#24
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quote: We even haven't done that, yet.

You say that like it's an easy thing to achieve...

	04-06-2004 21:58									#25
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Strong growth is what we had under Clinton. This is decent growth.

As for the press downplaying it- you did find an article no?

What is the press supposed to report? Over the last few months we have had the kind job growth we had in the mid 90's, though not in the boom years-which means we are perhaps halfway to getting back all the jobs lost, though cost of living is rising, wages have stagnated, the trade deficit has ballooned...Yup, its all champagne and caviar!

The fact is this is not a boom, but simply the kind of growth Bush predicted about 3 years ago..so he is three years late-and he is supposed to gain political capital for that? Too little to late bubb.

	04-06-2004 22:02									#26
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quote: Originally posted by MrFun So then there has been no positive job growth? We just returned back to where we were before?

We're not even at that point:

quote: Despite a nine-month string of payroll gains through May, the Bush administration still is down a net 1.16 million jobs since the start of its tenure.

http://www.reuters.com/financeNewsA...storyID=5348157

	04-06-2004 22:02									#27
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quote: Strong growth is what we had under Clinton. This is decent growth.

The GDP growth for the past 12 months is higher than anything experienced under Clinton, IIRC. Highest since 1984...

	04-06-2004 22:03									#28
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I see



So DanS should put his pom-poms back in the closet?

	04-06-2004 22:11									#29
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Why should he? Any recovery from this recession is worth celebrating.

	04-06-2004 22:12									#30
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Ok -- a recovery is a good thing, but as others have pointed out, there is a difference between recovery and positive growth.