Job growth rocks again, this is good news for Bush

[Dippo]

Job growth rocks again (http://money.cnn.com/2004/05/07/news/economy/jobless/index.htm)

Payrolls grew by 288,000 jobs last month, the Labor Department reported, well above the 173,000 economists had forecast, according to a survey by Reuters. The number even topped the highest forecasts of about 250,000.

Average hourly wages posted a relatively strong 0.3 percent gain, climbing 5 cents to $15.59 -- the biggest increase since a 6-cent gain last July. Average hours work remained unchanged, but that could also be a sign of renewed strength in the labor market.

I seems that the economy is really picking up. This is really good news for Bush, and it seems the Democratic attack is going to have to shift away from the economy due to these developments. I guess there is always Iraq :p

Any comments?

[mactastic]

Job growth up, Bush's poll numbers down. Who'da thunk it! Even though this is a great sign for our economy, we could see these kinds of numbers every month between now and November and STILL have a net job loss under Bush.

This looks good though, it was a broad spectrum of job increases. Even the manufacturing sector added a few jobs. I just hope the coming interest rate hike doesn't kill the housing market. I've got 23 more lots I want to start this year! :eek:

[zimv20]

from the article:

Even the manufacturing sector added 21,000 jobs last month after shedding jobs for 42 straight months -- until a revision showed a gain in the sector each of the last three months.

finally!

now who wants to take bets on whether or not, by the election, bush will have positive or negative job growth numbers?

and if positive, who wants to take bets on whether that growth kept pace w/ population growth?

[numediaman]

I don't think there is any doubt the job growth numbers from the past two months are encouraging -- and good news for Bush.

The trouble for Bush is that the jobs report got buried today by Rumsfeld's testimony in the Senate and the House. (And if Rumsfeld is right in that there are more photos and videos to come, well, that can't be good news.)

If job growth continues through to November, Bush might be saved. 45% of the country will not vote for Bush because of Iraq, the deficit, education, the environment, etc. 45% will vote for Bush even if he nukes NYC. That leaves the remaining 10%. If the economy grows, unemployment skrinks dramatically, Bush will win. But if gas prices continue to increase, if Iraq remains an issue, then Bush is in trouble. Right now the polls can be read anyway you want.

[blackfox]

Well I hate to say it, but even if this helps Bush into re-election *shudder*...I could sure use a rebounding economy...I have been underemployed and on a graduate program "sabbatical" for long enough...I guess I am a selfish basta*d. Just like to replenish my savings...

[Ugg]

This is good news, but there are two huge shadows that are creeping up on this recovery. Greenspan has been very vocal about the first, the largest deficit ever as well as an enormous foreign account balance. The other is directly related to gw's phony war on terror, $40 a barrel oil. If gw had been serious about terror he would have completed his rout of bin Laden and al Qaeda. instead, he decided to wage a phony war in Iraq.

It's great that jobs are increasing but is this just a blip or a full recovery?

[Neserk]

But how do the numbers compare to when he got into office?

[Dippo]

But how do the numbers compare to when he got into office?


After the economy lost 2.7 million jobs from the start of 2001 until August 2003 -- well after the recession ended -- payrolls have now grown for eight straight months, adding 1.1 million jobs.

From that I guess we are still about 1.6 million jobs in the whole since Bush took office.

Of course where are the Democrats to point this out.
Are they going to given up on the economy issue entirely?

[Neserk]

From that I guess we are still about 1.6 million jobs in the whole since Bush took office.

Of course where are the Democrats to point this out.
Are they going to given up on the economy issue entirely?

well, if we are 1.6 millionjjobs in the "whole" then that is 1.6million people out of work who were not out of work when Bush took office... so the economy *still* sucks and Bush is still responsible.