Stocks Close Lower on Weaker-Than-Expected Jobs Data

The Wall Street Journal Online ^ | 9.05.03

[MJY1288]

Employment is still a problem, but the majority of the other indicators are looking up. History has shown that employment figures are a lagging indicator, so hopefully by next april or may this will turn around as well

[Elliott Jackalope]

Not to be snippy about it, but this "lagging indicator" stuff is getting a little tired. Supposedly this recession ended over a year ago, but the unemployment numbers are still "lagging" while everything else is just hunky-dory.

At this rate the unemployment numbers will be "lagging" right into the next recession. Sheesh.

[Richard-SIA]

"Nonfarm payrolls dropped 93,000 last month"

Hmm, how many illegal invaders taking American jobs nationally?

How many of those jobs were "outsourced"?

[Steel and Fire and Stone]

"The [US] jobs report is just awful"

How's the job market in India, the Philippines, China, or maybe Ireland?? Betcha they had double digit job growth, 90% of it fueled by the growing U.S. economy.

No worries, mate! The gov'ment is gonna take care of all of us. Hey... I have idea. Maybe the U.S. government can start a national job placement agency. We can employ a million Americans.. talk about job creation! All they'll have to do is create a listing of every employed American over the age of 35 with a college degree, and start matching their jobs with qualified foreign-national applicants (FNAs). Then they can take bids from the FNAs on your job. Heck, there'll probably be 10 qualified FNAs for every single job. Wages will drop though the floor, for those serfs (oops..employees) still working. Inflation will drop below zero (i.e. "deflation"). The "business friendly" environment will jump-start the economy, creating yet more jobs.

Democrats will have millions of new voters, plus millions more permanent dependents for the welfare system.

Everyone wins!

< /end sarcasm >

SFS

[MJY1288]

I understand that everyone wants the recovery to happen overnight, but it doesn't work that way. When the economy goes into recession the hardest hit is always manufacturing jobs, you know!!! the stuff people spend money on when times are good. It took 5 years to recover from Jimmy Carter's recession and the unemployment rate was in the double digits and well into Reagan's 3rd year in office it was still over 8%.

If a Democrat was in office the liberal media would be reporting about this amazingly short recession and how the President should be enormously credited for keeping the economy from free falling after all that has happened since the NASDAC bubble bursted in 1999, the recessions start in 2000, the attacks of 9/11 and the corperate scandals just after that.

I feel we are damn lucky things were not a hell of a lot worse than they were, You can focus on the negatives all you want, I choose to think differently.

Cheers

[templar]

I feel we are damn lucky things were not a hell of a lot worse than they were, You can focus on the negatives all you want, I choose to think differently.

I'd be willing to bet that, during WWII when the Germans started haluling people away to 'work' camps, there were people in the Warsaw Ghetto watching trainloads of their people hauled off and commenting that it wasn't all that bad: after all, look how many are still left.

[riri]

It took 5 years to recover from Jimmy Carter's recession and the unemployment rate was in the double digits and well into Reagan's 3rd year in office it was still over 8%.

I hope you are correct. The big difference is we weren't shipping entire professional, white collar departments and divisions to 3rd world countries during, before or after that recession.

[templar]

once congress makes Bush's tax cuts permanent, things should turn around on the job front.

The already have. In China and India and such. 93,000 last month alone.

[riri]

I see more of a parallel to the Okies...No one cared that by the time all was said and done entire families (men, women and children) were working in the fields all day for some flour, some fat and a chunk of gristle.

[MJY1288]

Nice comparison, Jews being hauled off to their deaths in Nazi Germany is always comparable to an economic slow down and recovery here in the USA.

Bravo, You should start your own debating school < /sarcasm > off

[riri]

ping

[templar]

Bravo, You should start your own debating school

Well, it most certainly seems to have gotten your attention, now hasn't it?

BTW, I don't debate. I state my position. Take it or leave it as you please.

[ETERNAL WARMING]

"The jobs report is just awful," said Bill Cheney, chief...

No s--- Sherlock! But just keep buying stock in companys that desert Americans and see how low those stocks will drop when none of us can afford your "products."

[banjo joe]

Beat me to it.
How is this for irony. They ship jobs overseas to save on payroll. Then stock valuation drops.
Guess they'll have to fake up earnings and hide liabilities.

Serves 'em right, hate it for me and other investors.

[TopQuark]

Employment is still a problem,

As evidenced by what?

[TopQuark]

Employment is still a problem,

As evidenced by what?

[banjo joe]

see how low those stocks will drop when none of us can afford your "products."

The idea is that emerging economies will stand in line to buy these goods. These are multi-national corps. Products made in China, distributed throughout the world. The U.S. is merely a bedroom community.