JOBS DISASTER

New York Post ^ | January 10, 2004 | PAUL THARP

[sarcasm]

January 10, 2004 -- A big hole is tearing through the economy's sails, knocking Wall Street for a loop and dimming optimism for 2004.

The damage began yesterday when dismal employment numbers triggered an economic chain reaction that tore across markets and stunned even the most pessimistic economists.

[sarcasm]

http://www.nytimes.com/2004/01/11/weekinreview/11murp.html?hp

But while the disruption would be real, Professor Borjas argues, it would not be long lasting. As proof, he says, look no further than places like Iowa, where foreign-born residents are relatively rare, but there are people working in hotels, fast-food restaurants and all the rest.

Most illegal immigrants, in fact, are concentrated in a handful of states - California, Texas, New York, Illinois and Florida - leaving many parts of the United States relatively untouched by the influx.

Estimates by the Immigration and Naturalization Service based on the 2000 census show that 15 states accounted for all but 13 percent of illegal immigrants.

If there were no undocumented workers to tend to the gardening, Californians who wanted a nice lawn would pay more for it, eventually drawing low-skilled workers from other parts of the country, Professor Borjas said, adding that American workers would be the better for it.

[JeanLM]

The participation rate is a good number to watch, as you say, but I question anyone's take on what the "should be" participation rate is. Where does Mr. Morris get his number 67 from? Higher is better but is 66 bad? Better than it has been in a look back in history at this stage of a recovery. Better than any other developed country.

Jobs numbers in the short run like a week are totally meaningless. The Stock market was looking for a chicken little event to take some profits. The seasonal adjustments will wash it out. No disaster in my opinion. I'm having trouble finding good people.

[sarcasm]

[FITZ]

It seems like a bad time to push for CAFTA --- and start sending millions of jobs to S. America and announce a new guest worker plan to start bringing in millions of new temporary workers. At best --- the timing is way off.

[null and void]

You can't mean that they are jobs that Americans will do. ~ sarcasm

Of course I do. ~ Gritty

FWIW, I'm doing manual labor. 25 years as an engineer, 4 patents, worn out 50 year old, and I'm moving boxes of rockses, sweeping floors, and painting. Haven't quite made $50 a day yet...

[sarcasm]

FTAA is next.

[tbpiper]

Using phrases such as JOBS DISASTER, A big hole is tearing through the economy's sails, knocking Wall Street for a loop and dimming optimism for 2004 doesn't sound particularly conservative to me. It's more inflamitory, particularly when it's based on one report. I don't expect every month to be a banner month so I don't find a single report like this particularly distrubing. The key is how this fits the overall trend. This report seems to be a 'flyer'.

[jpsb]

yea, Bush should have waited until he had a lame duck session of congress, like the cowards that passed NAFTA.

I'm pretty much finished with the GOP, the GOP used to be the party of main street. Now they are an elitest Wall Street party, screw them. Constitutional Party looks good, think I'll start supportng them.

[harpseal]

Here in eastern Massachusetts the unemployment rate is zero, where it's been for years. Jobs go begging. We could of put a 1,000 to work in a day. However, housing cost are brutally high due to decades of small town, county and state socialist/environmental planning. Matter of fact, some planning has been planed three or four times.

Please try to peddle that to people who are from outside the area. We get the information on MA jobs here in CT.

[sarcasm]

And just where have you been????

[harpseal]

Sick with the flu

[sarcasm]

Hope you're better. I was wondering where you were.

[harpseal]

Still weak as a kitten but I am hoping by the middle of next week I will be better. I have the laptop in the bed with me so I can read and maybe post some replies.

[sinkspur]

This is serious stuff and could turn everything upside down for the economy and for Bush.

You're overwrought. Bush is already planning another round of tax cuts, and this mixed news (several companies announced results that were HIGHER than expected) would give him an impetus to announce them.

[JoeSchem]

One thousand Jobs? We'd better open up the borders to 20 million folks from the third world.

There are six billion people in the world with living standards one-tenth the US level. So the number of folks who'd like to come here is in the billions. Think of your hometown, then multiply its population ten to twenty times over with third worlders, and that's what your life will be like in ten years.

[Lazamataz]

OMG!!!!! YER BACK BUD!!!!

[sarcasm]

No spending cuts I suppose. We'll be bankrupt by the time Bush leaves office.

[Lazamataz]

Look who's freakin' back on line.

[Lazamataz]

You a-hole. You had me worried again.

[Leisler]

Good, stay in Connecticut. Anyone who relies on economic hearsay, printed or otherwise, deserves their self made fate.