http://www.usatoday.com/money/economy/employment/2004-05-07-unemployment-april_x.htm

This is only another sign of an ever strengthening economy under President Bush. Having inherited the Clinton Recession that was prolonged by 9/11 Bush has taken job losses of almost 3 million and reduced it in half. Over 800,000 people have been employed this year alone. This is only going to make things tougher for Kerry and Co.

Bush's economic policies had absolutely nothing to do with the creation of these jobs. I'm sure it's very nice for you to imagine that this is true, but sorry.... it's not.

First of all, the majority of these jobs are in service industry. You know, Taco and Burger assembly specialists. Bed making and cleaning jobs. Jobs with pay in the $6 to $9 an hour range, with little or no benefits. Gee, Thanks Uncle Bush! Now I can make my mobile home payment and buy the good ramen noodles!

Secondly, these jobs would have been created no matter who was in office. It is outrageous, but not surprising at all that Bush would try to take credit for them.

I'm sorry but this so called "economic recovery" is an illusion. The rich are still getting richer while the number of low income families is increasing all the time. How is this a good thing? Please explain. :@@:

Funny thing is though - on one hand anti-Bush people blame him for job losses, but are not willing to give him any credit for job creation.

Neither extreme matches reality, but you can't have it both ways.

Yes, but I'm not one of those that blame Bush for job losses. Our economy was on a downward slide while Clinton was still in office. At the time, I worked in the home office of a major securities firm and therefore was "in the loop" with the ability to see what was happening on a daily basis. I just think that Bush's policies have made things worse.

How are they worse? - 288,000 new jobs in April. That is a significant number. I'm not sure I understand your logic.

I agree with you that Bush has nothing to do with this at all. He cut taxes - but that isn't really doing anything. The main driver is interest rates and has no control over that.

We had a internet bubble at the end of the clinton years. We all know that, but what many of the blind republicans do not care to take into account was that Bush did not use his power to cool the overheated economy.
The same thing is happening now, real estate is selling for much more than it's actual value. The proper way of cooling an overheated economy would be to raise intrest rates, but Bush does not want to do whats best for the country. See, elections are coming up and he wants the economy to look as if it's going well when everyone votes. The bad news is that people are going to lose their shirts once the elections are over.

Well I sure as hell hope the housing prices fall when everyone "loses their shirts."

Originally posted by WindWip
We had a internet bubble at the end of the clinton years. We all know that, but what many of the blind republicans do not care to take into account was that Bush did not use his power to cool the overheated economy.
The same thing is happening now, real estate is selling for much more than it's actual value. The proper way of cooling an overheated economy would be to raise intrest rates, but Bush does not want to do whats best for the country. See, elections are coming up and he wants the economy to look as if it's going well when everyone votes. The bad news is that people are going to lose their shirts once the elections are over.

Your post is factually incorrect in many ways.

1. The recession was not created by the internet bubble correction

2. Bush has few powers to cool the economy, bar asking congress to raise taxes. Controlling the economy is the realm of the Alan Greenspan. He controls the money supply using the bond market, which sets the overnight banking lending rate - ie he sets interest rates indirectly by buying and selling bonds.

3. The statement that 'Bush does not want the best for the country' is ludicous. You may disagree with his view of what is best for the country - but to imagine that he is purposely working for what is wrong for the country is silly.

4. Exactly why are people going to lose their shirts once the election is over? What type of statement is that?

Most of the jobs are probably military spin off. John Maynard Keynes would be so proud of us.

Then again I guess there are some hot dog vendor jobs available now that baseball is in full swing (pun not intended).
$6 per hour and no benefits. Great jobs.

I'll let ya know how I feel about this when they invent a full time, good paying job for me that has benefits.

Meanwhile -- as My. Keynes said "In the long run, we're all dead".

For the poster who predicts the housing market downturn. Don't listen to those people. Especially if you're young. Buy as much real estate as you can handle and then some. When peanut butter and jelly no longer fits in your food budget -- that's when you have enough real estate.

I remember several so called housing busts. In particular the one in LA/OC in the 80's. I watched homes go from 100k to 200k and then the bust where they went back down to 100k. Well, what happens is investors start buying when the prices tumble which forces the prices back up. Long story short, those homes that were selling for 100-200k in the 80's in LA are now selling for a cool million and the people that hung in there through the tough times are living a pretty nice retirement.

After all -- 800,000 people a year move into California. They all have to live somewhere.

My comments might not apply to all 50 states but overall it's dead on.

Dop

Do you have stats to prove these are mostly Taco Bell jobs? Because I've heard nothing of the sort on NPR or the paper. I'm not saying you're wrong, but you can't always keep your wishes and reality straight.

MBanuelos -- nice post and dead on.

It's beyond sad that the majority of americans will stick their heads in the sand in defense of the neocons who are escalating the demise of the US workforce.

The facts are that bush himself is on record guaranteeing X amount of jobs to be outsourced to India. Further, they are suggesting outsourcing even some of the governmental depts ... call to check on your food stamps or federal college loan and you'll probably be talking to someone in bangalore.

At my company, they have hired 45 people so far this year. 35 of them are from the middle east. Not because they can outperform the US worker, we kick their asses daily on technical knowledge stage, but because they will work for half price and little benifits.

We are rapily becoming a service oriented workforce -- referring to your Taco bell comment. And even those jobs go only to bi-lingual applicants. In my neighborhood of LA, if you can't speak fluent Spanish, don't even think about applying at Taco Smell or Junk in the box.

Boeings newly signed contract for the 7J7 stipulates the majority of manufacturing and some of the design will be performed in China. Honeywell, recently brought a technical team to the US from Czechoslovakia, trained them on the latest software and sent them back home with software in hand and the design work for their new biz-jets -- jobs that would normally be perfomed here.

Wanna hear more stories? I have tons of them and they are all documented.

Yes, indeed -- in the very near future, a job at Taco Bell will be considered a good job and you will see people lined up to apply for one if that's not already happening.

Dop

It's pure crap that the jobs are all taco bell and Macdonalds jobs.

What would you attribute to the upswing in people eating fast food?

This is positive news for the economy - any number over 150,000 is a significant number. The economy is booming right now - the jobs are starting to follow the growth - this is perfectly normal.

I find it funny that liberal have been complaining about the loss in jobs and now that jobs are coming back they try to classify them as being insignificant, low wage jobs. Just look at Monster.com for all the jobs out there people are hiring for...they certainly are not Taco Bell and McDonald's.

Originally posted by Lungdop Philing
Wanna hear more stories? I have tons of them and they are all documented.

No, I don't want more stories, I want more documentation.

Boeing's 7J7 agreement and Honeywell's moving jobs overseas are more than well known and at one time were breaking news. If you want documentation on either of them, try google or better yet try staying informed so you don't have to ask other people to document what you should already know. I'm not here to teach you or do your homework.

Dop

Yeah, yeah, yeah. I want proof that the jobs are all fast food jobs. And my NPR, local news, local paper, and Newsweek keep me plenty informed, thank you. tvnewlies.org is not what I call staying informed.

You can't be too informed cause you mised this one ...

A snippet taken from http://finance.yahoo.com/mp with it's source being the NY Post.

read it and see how the bushbots juggle the numbers to enable their god-chosen-emporer and fool the american public. Also, do the math, it's not that hard. Look at the bankruptcy numbers -- they're staggering -- especially considering we are being told this is the best economy in the past 20 years.

Go sell your snake oil somewhere else.

snip>------- cut here --------<snip

7:16AM Investors should not get too excited about the recnt labor report given last Friday - NY Post : The New York Post discusses Friday's labor report and suggests that investors should not get too excited about all those new jobs that were supposed to have been created in April. According to the article, the bottom line is that most of the 288K jobs that the Labor Department says were created last month may not really exist and they could be figments of statisticians' optimism. Back in the March employment report, the government added 153K positions to its revised total of 337K new jobs because it thought (but couldn't prove) loads of new co's were being created in this economy. That estimate comes from the Labor Department's "birth/death model." As staggering as the assumption about new co's was in March, the Labor Department got even more brazen in April as it was disclosed that these imaginary jobs had been increased by 117K to 270K for the latest month. Without those extra 117K make-believe jobs, the total growth for April would have been just 171K, which is sub-par for an economy that's supposed to be growing at more than 4% a year.

Dop

Originally posted by Lungdop Philing
You can't be too informed cause you mised this one ...

A snippet taken from http://finance.yahoo.com/mp with it's source being the NY Post.

Go sell your snake oil somewhere else.



OMG, I am hopelessly ignorant! :( On the plus side, I don't spend every waking moment of my life surfing the internet! :D

Anyone want my surplus snake oil?

I guess all of these economic indicators are fooling Alan Greenspan too. Interest rates went up, you know.

Ya gotta love this bush economy ...

http://money.cnn.com/2004/05/13/news/economy/jobless/?cnn=yes

Dop