This is Post-Katrina mind you.
Imagine an economy like this ONE MONTH after 2 major cities got decimated by a hurricane with the power of an atomic bomb like the one in Hiroshima !!
Testimony to the power of free markets and low taxes.
On the other hand in socialistic France ( with Free healthcare and high taxes ) .... ( see other threads ).
I thought the muslim riots were not suppose to happen, didn't France try to avoid this by opposing war in Iraq ??
There've been reports of lowering wages lately. My personal guess is that these reports need to go in the same file as all those polls showing the US going Democrat-- the reason being that employment is up, income is up and wealth is up.
One possibility is that the reports are lies. Another is that so many people are getting income from sources other than wages (self employment, equity income, etc.).
Your take?
FROM polipundit.com
The Job Market
Perspective
8.4 = unemployment rate in Oct. 1975.
7.1 = Oct. 1985.
5.5 = Oct. 1995.
5.0 = Oct. 2005.
Perspective - Part Deux
9.8 = unemployment rate in France.
11.6 = in Germany.
5.0 = in the U.S.A.
Job Creation - Oct. 2005
The economy created 214,000 net jobs last month, of which 56,000 were on non-farm payrolls.
Net payroll job gains in October were posted in the following high-paying labor sectors and subsectors: Commercial banking, securities and investments, computer systems design, business management, architecture and engineering, health care, real estate, and construction.
Wage Growth - Oct. 2005
Regarding lower-tiered workers (i.e., non-managers in the services sectors and production-line workers in the factory sector), average hourly earnings rose in October for the twenty-second consecutive month.
Since January 2001, such earnings have risen 14.01 percent. The total consumer inflation rate, however, only has posted an increase of around 13.54 percent over that same period. (See here.)
Job Creation - 2005 - Aggregate
Over the past ten months, the economy has created 2,490,000 net jobs, of which 1,612,000 have been on non-farm payrolls.
The following labor sectors have added substantial quantities of net W-2 jobs during that period:
234,200 = Health care services.
106,200 = Finance and insurance.
138,900 = Business services.
226,000 = Construction.
45,000 = Real estate.
Perspective - Part Three
October 1997
4.1 = unemployment rate for whites.
9.5 = for blacks.
8.0 = for latinos.
On the other hand:
October 2005
4.4 = unemployment rate for whites.
9.1 = for blacks.
5.8 = for latinos.