June revised down to 78,000.
Horrible, horrible news. Bush is in VERY BIG trouble. This number is beyond bad news, it will probably elect John Kerry president.
5.5% is nearly full employment.....I remember reading that comment somewhere back when unemployment used to be consistently in the 6's and 7's.
There is about a 4.5% residual unemployed group that will never be employed.
Someone help me here. Did the new welfare laws REQUIRE job applications in order to continue receiving welfare benefits after a certain amount of time on welfare?
Sounds like a quagmire of good news to me.
That is what matters.
The unemployment rate is lower now than when Clinton was re-elected.
When it was evident that an economic recovery was well underway, the Rats tried to claim "it was a jobless recovery".
When that didn't work, and it was apparent that thousands of new jobs were being added every month, the Rats Claimed "yeah, but they're low-paying jobs".
By the time election day gets here, I suspect they'll be saying the following: "Okay, the economy's in full recovery, and there are thousands and thousands of new jobs, and many of them are good paying jobs. But.....but..... we know a guy who knows someone whose cousin is dating a girl who knows a guy whose brother is out of a job, so Bush has been doing a lousy job with the economy".
For those who think we are at or near full employment, consider the fact that the Battleground States for the most part have above average unemployment rates. Maybe those of you in Wyoming who want a job can get a new high paying job in one day, that isnt necessarily the case in Ohio or Michigan where this election is going to be decided.
We're all doomed!
Doomed!
If Bush loses and JF'nK gets to raise taxes on US businesses, they have only themselves to blame. Hiring 32,000 in July means an average of 640 new hires PER STATE...just pathetic. This economy is going no where at this rate. The only thing that is up is oil prices.
Congratulations to the Democrats - their talking down of the economy is having the desired effect.
DNC on suicide watch?
Thank goodness Greenspan raised interest rates to cool off the roaring economy.
Job hires are always slow in the summer. School is now going back in session for most. Vacations are over. Recent grads will either be going to college, the military, or the workforce. The numbers will start to improve. Even though 5.5% unemployment is better than average when compared to Clintons 8 years of 5.7% average. The media can spin any positive news into a negative story. Remember, only the accidents get reported, not that millions arrived safely to work this morning.
Dumb question. Wouldn't it get harder and harder to create jobs as the economy reaches full employment ? As the pool of qualified applicants shrink, wouldn't my ability to hire also shrink ? Is it possible the demand for jobs in some sectors could still be high but the supply for certain jobs isn't there ?
Isn't it true that a lot of the tax cuts are still yet to kick in? Or am I wrong here?
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?
Though this is disappointing news, it isn't the end of the world. Last time I checked, Bush is still President.