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Economy Job numbers 2004

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#1 gaius claudius

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Posted 06 August 2004 - 08:14 AM

Economist had been expecting a gain of about 243,000...they were a little off

Quote

The Labor Department report showed only 32,000 new net jobs added to payrolls during the month, down from a revised 78,000 jobs that were added in June. The increase was the smallest since December.


http://money.cnn.com...dex.htm?cnn=yes


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#2 Drew

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Posted 06 August 2004 - 08:45 AM

Figures available here.

It's not really all gloom and doom. Unemployment dropped slightly. Total non-farm employment is still on the rise, having increased 1.5 million since a year ago. And the previous two months had larger increases than expected, so it would make sense that it would level off. Employment in the financial sector is down, but employment in healthcare and the professional and business sector is up (and, in fact, appears to account for half of all employment increases in the last year.)
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#3 gaius claudius

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Posted 06 August 2004 - 08:59 AM

Drew, on Aug 6 2004, 09:43 AM, said:

Figures available here.

It's not really all gloom and doom. Unemployment dropped slightly.
No its definitely not all doom and gloom...but a 211,085 job difference in terms of estimates vs. reality is more then a bit troubling no matter what side of the political fence you're on...especially since the FED was expected to raise interest rates another quarter point next week based on the original estimates.

Quote

And the previous two months had larger increases than expected, so it would make sense that it would level off


Actually...if I'm not mistaken....those numbers have been revised down also..

Quote

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.

http://www.forbes.co.../ap1494409.html



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Edited by gaius claudius, 06 August 2004 - 09:00 AM.

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#4 Drew

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Posted 06 August 2004 - 09:12 AM

They did revise them downward, but there's still no net job loss, and consumer confidence is up, and that's a pretty good indicator that people are feeling good about the economy. And when they spend, the economy continues to improve.

Edited by Drew, 06 August 2004 - 09:13 AM.

"Someone must have slandered Josef K., for one morning, without having done anything wrong, he was arrested."

#5 Delvo

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Posted 06 August 2004 - 09:51 AM

This is what the Republicans get for making too much of a big deal out of a fairly small tax cut that wasn't big enough to cause the kind of effects we had been seeing for several months.

#6 Rov Judicata

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Posted 06 August 2004 - 11:13 AM

http://www.bls.gov/n.../empsit.nr0.htm

Quote

Nonfarm employment was little changed (+32,000) in July..

32,000? Granted, it's better than nothing, but that's not very encouraging at all. Earlier in the year, it looked like Bush might beat the 'Hoover' stigma... but that doesn't seem very likely now.

Yeesh. It looked like things were back on track. What happened?
St. Louis must be destroyed!

Me: "I have a job and five credit cards and am looking into signing a two year lease.  THAT MAKES ME OLD."
Josh: "I don't have a job, I have ONE credit card, I'm stuck in a lease and I'm 28! My mom's basement IS ONE BAD DECISION AWAY!"
~~ Josh, winning the argument.

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#7 Ogami

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Posted 06 August 2004 - 11:17 AM

100 of those jobs were new servants that Kerry hired for his mansion. (Mansions, 'scuse me.)

#8 ZipperInt

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Posted 06 August 2004 - 11:20 AM

Well, that just proves Kerry has what it takes to boost the economy... :p
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#9 Nonny

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Posted 06 August 2004 - 11:21 AM

Whatever happened to that attempt to redesignate McJobs as tech jobs?  

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#10 Delvo

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Posted 06 August 2004 - 11:42 AM

Javert Rovinski, on Aug 6 2004, 10:11 AM, said:

It looked like things were back on track. What happened?
Seriously, my guess: Something wrong with the collecting & processing of the data, which will be corrected/ammended a month or two from now. The change in the rate of growth is just too much to happen so quickly without an obvious cause.

#11 Rov Judicata

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Posted 06 August 2004 - 11:50 AM

Zipper-- Never said that. Regardless of who's president, we need our economy back on track. It looked like things were going so well.

Nonny: It was manufacturing jobs, not tech jobs. And I don't think that ever went through.

Delvo: Maybe. But last month's numbers were revised downward too. I'd like to believe that's the problem, but I'm skeptical.
St. Louis must be destroyed!

Me: "I have a job and five credit cards and am looking into signing a two year lease.  THAT MAKES ME OLD."
Josh: "I don't have a job, I have ONE credit card, I'm stuck in a lease and I'm 28! My mom's basement IS ONE BAD DECISION AWAY!"
~~ Josh, winning the argument.

"Congress . . . shall include every idiot, lunatic, insane person, and person non compos mentis[.]" ~1 U.S.C. § 1, selectively quoted for accuracy.

#12 emsparks

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Posted 06 August 2004 - 12:22 PM

Yes your right the numbers have been fudged, the question is, by whom and when? Only time will tell… I will not tell you what we of the low class blue-collar world know, cause we’re tired of being called liars.

Let me explain it to you republican types, we the great unwashed are your market, make it so we can’t buy even our basic needs, and you hurt yourselves in ways you couldn’t even begin to imagine. Since the mid 1960’s you’ve been sending our jobs over seas, and now you’ve got a country that hasn’t got the productive capacity to defend it’s self or even pay it’s own bills. We pay for the balance of trade deficit by borrowing money over seas, and have to buy the bullets for our army also over seas. You live in the world’s greatest debtor nation, and you don’t think that’s not going to hit you in your pocket book. As Radar says “wait for it.” Maybe you can play ostrich a bit longer but soon there won’t be enough jobs for your college graduate children, and then maybe it will sink in.

I love my country, but I don’t love what is being done to it, by unrestrained capitalism, and your free trade.

Sparky::

Edited by emsparks, 06 August 2004 - 12:24 PM.

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#13 QueenTiye

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Posted 06 August 2004 - 12:26 PM

we have two threads on this topic....

HM07

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#14 gaius claudius

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Posted 06 August 2004 - 12:40 PM

Rovinski again....dammitt :lol:


I'm beginnign to think you do this on purpose......... :cool:





gc    :devil:
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- Marcus Aurelius

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#15 Nonny

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Posted 06 August 2004 - 12:51 PM

Javert Rovinski, on Aug 6 2004, 04:48 PM, said:

Nonny: It was manufacturing jobs, not tech jobs. And I don't think that ever went through.
Nothing like a little close scrutiny.   :cool:

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The once and future Nonny

"Give a man a gun and he can rob a bank, give a man a bank and he can rob the world." Can anyone tell me who I am quoting?  I found this with no attribution.

Fatal miscarriages are forever.

Stupid is stupid, this I believe. And ignorance is the worst kind of stupid, since ignorance is a choice.  Suzanne Brockmann

All things must be examined, debated, investigated without exception and without regard for anyone's feelings. Diderot

#16 Drew

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Posted 06 August 2004 - 12:52 PM

Note also that spending on factories, warehouses and other structures is up as well as investments in IT and other equipment. That's a sign that businesses are bullish on the economy and quite prepared for growth. The raw numbers don't always tell you the whole story.

Edited by Drew, 06 August 2004 - 12:52 PM.

"Someone must have slandered Josef K., for one morning, without having done anything wrong, he was arrested."

#17 Nonny

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Posted 06 August 2004 - 12:54 PM

Handmaiden07, on Aug 6 2004, 05:24 PM, said:

we have two threads on this topic....

HM07
D'oh!  No wonder I couldn't find my comment!   :blush:

Nonny
Posted Image


The once and future Nonny

"Give a man a gun and he can rob a bank, give a man a bank and he can rob the world." Can anyone tell me who I am quoting?  I found this with no attribution.

Fatal miscarriages are forever.

Stupid is stupid, this I believe. And ignorance is the worst kind of stupid, since ignorance is a choice.  Suzanne Brockmann

All things must be examined, debated, investigated without exception and without regard for anyone's feelings. Diderot

#18 gaius claudius

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Posted 06 August 2004 - 12:55 PM

Nonny, on Aug 6 2004, 01:52 PM, said:

Handmaiden07, on Aug 6 2004, 05:24 PM, said:

we have two threads on this topic....

HM07
D'oh!  No wonder I couldn't find my comment!   :blush:

Nonny
Can the Mods merge this post with the July Numbers post....please...




thanks




gc   :devil:
“I seek the truth...it is only persistence in self-delusion and ignorance that does harm.”
- Marcus Aurelius

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#19 ZipperInt

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Posted 06 August 2004 - 12:56 PM

Oops, sorry Rov, I was making a little joke regarding Ogami's post - I probably should have quoted it. :D
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#20 Banapis

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Posted 06 August 2004 - 01:07 PM

Handmaiden07, on Aug 6 2004, 01:24 PM, said:

we have two threads on this topic....
Not for long. ;)

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