U.S. Economy Adds 1,000 Jobs, Fewer Than Forecast; Unemployment Rate Drops

bloomberg ^ | 01/09/04 | Bloomberg

[Pikamax]

U.S. December Payrolls Rise 1,000; Jobless Rate Falls (Update1) Jan. 9 (Bloomberg) -- The U.S. economy gained 1,000 jobs in December, fewer than the 150,000 that economists had forecast, as companies relied on productivity gains to meet increased demand, a government report showed.

[ptlurking]

"Employment in service-producing industries...rose by 13,000 Retail employment declined 38,000... Factory employment...declined by 26,000...

The rise in service jobs was led by a 45,000 increase... Education and health services employment rose 21,000.
Construction employment increased 14,000 for second straight month..."

Somebody please check my math...
13,000-38,000-26,000+45,000+21,000+14,000 = 29,000 new jobs

Not great, but better than the 1,000 reported in this article.

[Wphile]

Good luck to you on arguing for the elimination of the corporate income tax. I agree, wholeheartedly, with you but believe me, it's almost impossible to get most people to understand why it would be a good thing.

[Malsua]

I got it, we can produce more cars with fewer american workers - thus increasing productivity numbers, esp when the engine is made in mexico, the steel in japan, the seat and upolstery in china, etc.

Right.

The ultimate in productivity will be achieved when the truckers unload 10 crates of parts from out of the country onto various conveyors and out the other side of the building shoots a brand new car "Made in the USA", with zero employees. 100% productive....at least that's how they seem to be measuring productivity now.

-Mal

[sarcasm]

Report HERE

[Torie]

The idea of "corporate taxes" is a total fiction.

No it isn't. Nobody knows the precise percentage, but in an economy as large as ours, some of the corporate tax is indeed one on capital, and cannot be passed on in the form of higher prices. When you tax something that is a major input, it induces more reliance on other inputs. Trust me. Maybe half or so of the corporate tax is truly a corporate tax, but nobody knows. But it is clearly more than 0%.