Unemployment Rate Falls to 6.0 Percent; Payrolls Soar

Fox ^ | Nov 7 2003 | Fox

[RedBloodedAmerican]

The U.S. economy added more than twice the number of jobs expected in October and the jobless rate fell, the government said on Friday in a report offering many signs of broad job market recovery.

The Labor Department (search) also made substantial upward revisions to non-farm payrolls (search) for August and September, a sign sizzling economic growth in the third quarter translated into more jobs.

[RedBloodedAmerican]

Hey, what are you going to do to celebrate? More good news from the Bush Administration!

[Clara Lou]

Oh, the wailing and gnashing of teeth at DNC headquarters!

[RedBloodedAmerican]

But the hard-hit manufacturing sector continued to shed jobs in October -- 24,000 -- and it was the 37th consecutive month of declines in that area. The pace of job loss, however, has slowed considerably.

Slowing, too. On it's way to turning around.

We can skip the 2004 election. Reschedule it for 2008. It's a wash.

[RedBloodedAmerican]

And a few others, I might add!

[lelio]

How many jobs a month need to be created just to satisfy the growing labor pool?

[Sofa King]

You guys should see how they're reacting at DU.

They're spinning as hard as they can. I just wish I was there to see them get sick and throw up.

[Az Joe]

I love going over to DUmmies and seeing them do mental gymnastics trying to explain how the economy going up is really the economy going down.

They know their goose is well cooked.

[Paul Atreides]

You have to admire liberals: you'll never hear them wanting Fr*nce to impeach Chiraq over their soaring unemployment.

[RedBloodedAmerican]

And this is without the hi tech sector pushing the market up alone as it did in the mid 90s (with NO help from Clinton). Had we had Bush economics then as we do now, the market would have really been good, and more stable; not an overinflated bubble.

[RoseofTexas]

I don't get it? I thought today's numbers were going to take the SM to perhaps the 10,000 mark. WHAT happen? The dow was pitiful today! Something's fishy going on!

[Mr. Mojo]

The U.S. economy added more than twice the number of jobs expected in October and the jobless rate fell

The stock market and economy have been doing well, but all the Rats have been talking about is the high jobless rate. Now they don't even have that. My guess is that they'll continue saying it, and dispute the #'s somehow.

[Sofa King]

Gymnastics? At the special olypics perhaps.

[Willie Green]

" The new jobs added last month mostly were in lower-paying industries such as retail and temporary employment firms."
(Source)

White House Says Bush Believes Deficit Manageable
Consumer debt increases in Sept. by largest amount since January

The labor report is structurally skewed toward the service sector, better paying, skilled manufacturing continues to decline. And the overriding economic factor remains the near-record level twin Budget and Trade deficits.

There is no reason to believe that the debt-inflated service employment bubble is sustainable. Especially with low-wage service sector jobs.

[Brett66]

The mighty metrosexual men of the DNC are sobbing like 3 year old girls.

[Mr. Mojo]

The dow was pitiful today!

A .48% drop is nothing.

[Right_in_Virginia]

Oh, the wailing and gnashing of teeth at DNC headquarters!

With good news on the economy and their strategy to attack Bush on the war now public knowledge....wailing and gnashing of teeth at the DNC headquarters would be good news for the Demonrats ;^D

[Willie Green]

And this is without the hi tech sector pushing the market up alone as it did in the mid 90s (with NO help from Clinton). Had we had Bush economics then as we do now, the market would have really been good, and more stable; not an overinflated bubble.

At least the dotbomb bubble was fueled by tech.
Looks like Dubya's trying to hyperinflate Walmart jobs and burger flippers with debt!
BARF!!! The Bush-bubble ain't gonna last very long at all.

[teletech]

I don't get it? I thought today's numbers were going to take the SM to perhaps the 10,000 mark. WHAT happen? The dow was pitiful today! Something's fishy going on!

I too was surprised by the Stock Market going DOWN after such great news. The leftist press says its because this great news had already been priced into the market? I thought the market was waiting for good news on the job front to rise further. Guess I was wrong.

[teletech]

ECONOMY IMPROVES. WILLIE GREEN DEEPLY SADDENED.