32,000 Jobs Created in July (UE Rate Down at 5.5%)

CNBC | August 6, 2004

[RWR8189]

32,000 jobs were created in July. The unemployment rate down at 5.5%

Details to come...

ouch

[RWR8189]

Net Birth/Death Model subtracted 91,000 in July.

I guess this will stop dems from complaints about "cooking the books"

I think some on this board complained simarly.

[Dave S]

Since when does our constitution give the President the responsibility of managing the free market?

As soon as he started taking credit for its growth this Spring.

[VRWC_minion]

these are terrible numbers. there is actually a chance that we might have a negative month for august or september

Unless the statisticians are cooking a bubble to be released later in the campaign.

[POA2]

I give it 20 posts before someone says "Bush isn't responsible for your lack of planning in case of high energy prices"

Funny Sh*t - Ha - And so true.

[KQQL]

This is not good for W and republicans.( especially with June numbers being revised to 78,000)

( not extending the federal Unemployment benefits for another 13 states also Hurts W in OH, WV, NC, PA, etc)

---

HIGHER OIL PRICES HAS SLOWED THIS ECONOMY !!!!!!!

[oceanview]

we have this debate every time. the household numbers count someone who says "i have a job", when what they really do is sell stuff on EBAY. they also count people who are consultants, but spend 6 months actually receiving a salary, and 6 months of the year trying to find their next position.

[rwfromkansas]

Well, Mr. all-knowing, why aren't you in the White House so you can fix it?

[xzins]

That's what I recall reading. Thanks.

I still don't understand how they can use the household survey for the UE rate, but not use it to count jobs created. Seems like a sauce for the goose; sauce for the gander type of thing.

[hobbes1]

What is totally whacked is the household survey says we added 629,000 jobs ... why is there such a huge difference

The Payroll figure is an indicator of Economic expansion.(Business adding NEW positions.)

[montag813]

And June us revised downward too. I really think this oil stuff is causing big problems.

5 letters are the cause of this: Y-U-K-O-S

[mwl1]

What is totally whacked is the household survey says we added 629,000 jobs ... why is there such a huge difference

Is that true?

Also, anyone who believes this is not terrible news for Bush and the GOP is whistling past the graveyard. The media will hammer this for the next 6 weeks, further depressing consumers. It is exactly what they wanted.

Thank you, corporate America, for not giving this wonderful President a break.

[hobbes1]

He said 2.3


We have done 1.5 since then. No spin necessary.

[POA2]

now, if next month does not go up, then I will be concerned.

This has been the mantra of freepers for the past several months - (and was the Bush Sr. Campaign policy throughout 1992) - Always NEXT month...

[rwfromkansas]

They have had their effects.

5.5 unemployment is not bad, but we need more hirings!

I fear we are screwed.

Conservatives always seem to have the worst luck in the world.

[paul544]

OIL OIL OIL OIL OIL!!!

This has replaced Iraq as the biggest drag. You can't pay $2 a gallon for gas and not have a big impact. $44 a barrel? This has been the case for over a year. And, with capacity at the max, there is no let up in sight.
No wonder no one is hiring!

[petercooper]

and yet the UE rate remains 5.5%.

Cut these oppressive income tax rates again!

[PersonalLiberties]

Maybe Fast Track and the free trade agreements?

I am concerned for the economic future, not so much placing blame. We have higher energy prices, the FED will probably increase rates, we have a high debt (especially foreign), huge trade deficits, and job growth is another factor.

[Fab4Fan]

Bingo! With the tax cuts, especially for small businesses and Sub-chapter S's that GWB got passed in 2003, I firmly believe that SB formation and SB hiring is picking up. There are also billions of new Federal $ being appropriated for DoD and DHS that they want spent. In the DC area, where I am, new SB's, mostly started by former employees of the usual suspects (CSC, SAIC, Lockheed Martin, NGIT, etc.) are popping up all the time, just to meet the demand for contractor support, that by law cannot all be awarded to large firms. These will never be counted as "jobs created."

[golas1964]

What I don't understand is W's lack of response to the rise in oil/gas prices. Congress is not going to pass his energy bill. So isn't it high time for an executive order authorizing drilling at Anwar, etc?