Unemployment hits 5 year low!

[cs0564]

Hard to argue with facts! Unemployment is hitting a five year low with 96.5% of those who want to work have jobs.

The economy is moving right along and President Bush's tax breaks are really kicking in. 95,000 jobs created last month. 450,000 over the past three months.

[Labrocca]

Moved to economy forums.

Good post though and oh so true.

This is why I get angry over illegal immigration opponents. Americans aren't losing jobs to immigrants. They are hiring them to do their own work CHEAPER. It's 10x better than outsourcing to China. Why outsource the work when you can import the workers. :)

Dishwashers, cooks, landscapers, and construction...all jobs you can't export and Americans don't want (for the most part).

Anyways...Bush isn't getting ANY credit for our great economy simply because of media bias. There is no other explanation.

[Elrathin]

and Americans don't want (for the most part).



Sorry but it is important you make the correct distinction. It's not that Americans don't want them, it's that American's don't want to work them BELOW MINIMUM WAGE.

[ECW]

Let's see...

The Co-Chair of the GOP claimed on tonight's evening news that 3.5 million jobs were created by Chimpy & Company over the last three years while ignoring the 3 million jobs that he lost in the first three years. (Clinton managed only a paltry 22 million new jobs in his eight years...)

Then, upon news that unemployment has gone down, the Dow Jones loses 120+ points this week suffering six straight losing days because more employment means the Big Business people will have to pay more in wages and benefits to keep the people already employed happy which decreases their bottom line and, thus, makes stocks go down.

Yep. The economy is just booming, folks.

[ECW]

COLLEGE PARK, Md., Nov. 3 (UPI) -- Fresh data from the U.S. Labor Department indicates the U.S. economy is close to a combination of recession with inflation, an economist said Friday.

Peter Morici, economist at the University of Maryland and former chief economist at the U.S. International Trade Commission, said word that employers created a paltry 92,000 jobs last month plus a fall in unemployment during October to 4.4 percent is bad news.

"Overall, employment is growing more slowly than in the third quarter, when (gross domestic product) growth was a disappointing 1.6 percent," Morici said. "At the October pace of jobs creation, unemployment will likely rise in the months ahead, and the probability that the economy will skip into recession has grown significantly."

He also noted Labor's disclosure of strong wage growth indicates "inflation remains stubbornly high" and that the combination of recession and inflation known as "stagflation is threatening to grip the economy."

Link (http://www.upi.com/NewsTrack/view.php?StoryID=20061103-013743-9131r)

What he said...

[sbannon]

Hard to argue with facts! Unemployment is hitting a five year low with 96.5% of those who want to work have jobs.

The economy is moving right along and President Bush's tax breaks are really kicking in. 95,000 jobs created last month. 450,000 over the past three months.


It's funny how this same false number keeps getting new threads here.... but it's easy to argue with something that has no basis in reality like the BLS Unemployment Rate.

The UR report doesn't count the unemployed who've had their benefits expire--which seems important since it's supposed to be the unemployment rate, you'd think they'd want to count those who are unemployed to calculate it?--and then they create a percentage number from their incomplete figure of unemployed Americans using a formula that includes phone surveys.

Yeah, real hard to argue with those kind of facts.

[Anti-Racism]

These are mostly food service jobs :(

[Mayberry]

Dishwashers, cooks, landscapers, and construction...all jobs you can't export and Americans don't want (for the most part).
Gotta disagree with this one Labrocca. Construction WAS a decent paying job before illegal aliens swamped the market. Landscaping wasn't bad either. Dishwashers and cooks have always been a low wage job, but lower still with the influx of illegals. For instance, when I was in high school, (circa 1990) a good friend of mine's Dad was a framing carpenter. They lived in a nice home, had nice cars, went on vacations, etc... Recently in the local classifieds was an ad for framing carpenters.... $8.50 an hour. My friend's Dad took a job at the Army Depot because carpentry wasn't paying anymore. It's not that Americans don't want them, it's that American's don't want to work them BELOW MINIMUM WAGE. Elrathin is right.

[false_creeds]

No matter how good the numbers are, you'll find a lefty who'll think they are terrible and it is all Bush's fault.

Who cares if things were slowing down before he took office. It is still all his fault and things are the worst since Hoover...


A few numbers (http://freedomkeys.com/2003taxcuts.htm);
$14,374,330,000,000 -- The Total Increase in Household Wealth Since April 2003. That's over 14 TRILLION dollars [A million seconds is less than 12 days; a billion seconds is over 31 years; a trillion seconds is more than 31,000 years, and 14 trillion seconds is over 434,000 years]

$5,700,000,000,000 -- The Total Increase in Shareholder Wealth Since May 20, 2003

$863,654,000,000 -- The Total Amount of Tax Cuts Enacted Since Fiscal Year 2003

$625,000,000,000 -- The Total Increase in Federal Tax Revenues Since FY 2003 [$863,654,000,000 were removed from revenues by the Tax Cuts and $1,488,654,000,000 were THEN ADDED BACK IN DUE TO THE STRONGER ECONOMIC GROWTH THEY CAUSED and the 6,800,000 new jobs created, for a net gain of $625,000,000,000 so far, with more to come IF the prosperity is allowed to continue].

$783,890,000,000 -- The Total Amount of Additional Tax Cuts to be Returned to Taxpayers Through 2010

$207,788,000,000 -- The Reduction in the Deficit in the Past 29 Months DUE TO STRONGER ECONOMIC GROWTH

4.6% -- The Continuing Unemployment Rate, Lower than the averages of the 70's, 80's and 90's, which continues to fly in the face of the Media's agenda- driven focus on economic pessimists. Update: It just dropped to 4.4%

3.7% -- The Average GDP Growth Rate Since The Tax Cut Was Enacted (the long run average is 3.3%), Calculated Quarterly

$98,600,000,000 -- The Combined Income Gains for Shareholders From Dividend Increases AND Tax Savings from 2003 to 2005


....

more stats (http://www.whitehouse.gov/news/releases/2006/11/20061103.html)

Today, The Government Released New Jobs Figures – 92,000 Jobs Created In October. The unemployment rate decreased to 4.4 percent, the lowest rate since May 2001. Payrolls have now increased 470,000 over the past 3 months and more than 1.9 million over the past 12 months. Since August 2003, more than 6.8 million jobs have been created - more jobs than all the other major industrialized countries combined. Our economy has now added jobs for 38 straight months.

The American Economy Remains Strong And Continues To Grow

* Real Wages Grew 2.4 Percent Over The Past 12 Months. This means an extra $755 for the average full-time production worker or about $1,327 for the typical family of four with two wage earners.

* Real After-Tax Income Per Person Has Risen By 9.8 Percent – $2,660 – Since The President Took Office.

* Our Economy Has Grown A Solid 2.9 Percent Over The Past Four Quarters – Faster Than Any Other Major Industrialized Country.

* Productivity Has Grown At An Annual Rate Of 3 Percent Since The First Quarter Of 2001, Up From A 2.4 Percent Annual Rate During The Preceding Five Years.

* Gas Prices Have Fallen Almost 82 Cents A Gallon Since Early August.

* Employment Has Increased In All But One State Over The Past 12 Months Ending In September.
...


Shared Prosperity: Debunking Pessimistic Claims About Wages, Profits, and Wealth (http://www.heritage.org/Research/Economy/bg1978.cfm)

By the numbers, America’s economy is strong. The economy has expanded 3.5 percent over the past 12 months, above the average historical rate of growth, while unemployment has fallen to 4.6 percent. Except for the technology bubble of the late 1990s, unemployment has not been this low since the early 1970s. The stock market too has recovered from the collapse of the tech bubble, improving the retirement prospects of tens of millions of Americans.

The gains from America’s economic growth have been widely shared throughout society. Low- and middle-income families, not just the wealthy, have seen their standards of living improve dramatically. Family incomes have risen well above where they were a generation ago, and most Americans now enjoy luxuries that in the past only the well-off could afford. Almost all Americans now have better health, education, housing, and consumer goods than they did even a decade ago.

Despite these facts, some claim that middle-class Americans are falling behind. They look at the data and see evidence that few Americans have benefited from the growing economy.[1] Only the wealthiest Americans have seen their lot improve in recent years, they argue, while middle- and low-income families’ finances have stagnated. This analysis is based on four specific claims:

*
The share of income earned by the wealthiest Americans has risen, and these are the only AmerÂ*icans whose standards of living have improved;
*
Inflation-adjusted wages have not risen for most Americans;
*
Wages have not kept pace with rising producÂ*tivity; and
*
Wages and salaries, as a share of the economy, have fallen in recent years, while corporate profits have risen.

To these critics, America has all but returned to a new era of corporate Robber Barons, with entrenched inequality and opportunity only for a fortunate few.

The only problem with this seemingly compelling argument is that it is not true. The critics’ statistics, while usually accurate, are also incomplete and out of context, and so give a misleading impression of the state of the economy. A comprehensive look at the data reveals that most Americans have shared in the United States’ rising prosperity and that America remains the land of opportunity.

...

Seriously, I can find more if you want. It is easier and cheaper than prozac for those of you who are clinically depressed over the economy.

[sbannon]

Numbers? okay:

$8,602,838,602,058.08 <-- National Debt as of the time of this posting

$3.6+ trillion <-- Amount the debt has climbed since Bush took office. About a 50% increase in 6 years from a total that had taken 224 years to accumulate. For those who would suggest Bush or this Congress haven't done anything I'd say they've done about 112 years worth of spending. That's impressive I suppose.

But as I just mentioned in another thread, it's not all Bush's fault at all and fortunately the other culprits can be dealt with this Tuesday.

[cs0564]

Can a LIB say ANYTHING positive about Bush? For some reason all I see is the sky is falling! LIBS....................................... WHATS YOUR PLAN?

[Elrathin]

Can a LIB say ANYTHING positive about Bush?


Actually I can. In a couple of years Bush will be out of office. :D

[cs0564]

[Actually I can.ÂÂ*ÂÂ*In a couple of years Bush will be out of office. :D


You got me there!

[NortheastCynic]

Sorry if I sound blunt here, but I can't see trying to play down low unemployment as anything more than a partisan move. It is a fact that 95% of the work force is, well working, this is a good thing and I do think that GW has done a decent job with the economy overall.

-NC

[sbannon]

Can a LIB say ANYTHING positive about Bush? For some reason all I see is the sky is falling! Well, I did just say it wasn't all his fault. Isn't that sort-a-kind-a positive?

LIBS....................................... WHATS YOUR PLAN?

1) Gain control of Congress
2) Plug the flood gates of American's tax dollars being thrown away on foolishness by liberal spending Republicans
3) Win the White House
4) Clean up the rest of the mess neo-Cons have been making and leaving for 'the next guy' to deal with
5) Rinse and repeat

[Churchel]

$8,602,838,602,058.08 <-- National Debt as of the time of this posting


I keep that in real-time (http://churchel.com)

[cs0564]

LIBS.......................................Â*Â*WHA TS YOUR PLAN?

1) Gain control of Congress
2) Plug the flood gates of American's tax dollars being thrown away on foolishness by liberal spending Republicans
3) Win the White House
4) Clean up the rest of the mess neo-Cons have been making and leaving for 'the next guy' to deal with
5) Rinse and repeat



This is actually your plan? After all we have been through with the finance thing and this is as good as it gets? One thing you goit right though "liberal" spending Republicans. Liberals WILL have power if they win tonight! No place for conservatives on either side then!